ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0085%/8h= −9.3% APRnext payment −$0.11 per $10,000 · paid last 24h −0.035%

Price spread now: GMX against Phoenix+0.280%65s7-day average −0.062% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.275%−$27 on $10k

Price spread, last 3 days (all we have)−0.323%−$32 · spread now +0.280%, 7d avg −0.062%

Together, before fees−0.598%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.342% dearer against Phoenix than usual: you sell high and buy low (spread +0.280% now, against its 7-day average of −0.062%): +$34 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 3 days (−0.275% in total) that is about 3.9 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ZEC	1,470.8	0.0075	pay 0.0009% / 1h	56m 21s	$4.6M	$1.6M	10x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,474.9	L +0.0038% / S +0.0009%	pay 0.0001% / 1h	56m 21s	$366K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee GMXbpOrdersPrice spread, now +0.280%Rate

Funding earned: −$17.76
Price spread: +0.280% → −0.062%: $34.21
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$2.55
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 3 min ago	1.56 bp	6.2 bp −$6	13.6 bp −$136	90.3 bp −$9,030	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZEC/USDC PERP	−0.3089%	1h	1,474	+0.215%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0334%	1h	1,473.5	+0.184%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0224%	1h	1,475	+0.283%	$18.0M	$45.0M	25x	as long as short
BloFin ZEC-USDT	−0.0110%	8h	1,474.6	+0.256%	$29.5M	$75.8M	75x	as long as short
Bybit ZECUSDT	−0.0082%	8h	1,474.1	+0.226%	$273.5M	$666.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.9	+0.278%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0037%	8h	1,468.5	−0.159%	$46.8M	$33.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,475	+0.289%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,474.6	+0.262%	$898K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.6	+0.255%	$84K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.1	+0.295%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,474.5	+0.252%	$295K	$1.4M	20x	as long as short
SoDEX ZEC-USD	+0.0031%	1h	1,474.6	+0.261%	$227K	$4.5M	10x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,475.2	+0.302%	$8K	$8K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0038% / S +0.0009%	1h	1,474.9	+0.280%	$366K	—	100x
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,474.5	+0.254%	$180.1M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0045%	8h	1,474.8	+0.272%	$50.4M	$183.6M	75x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0071%	1h	1,475.1	+0.294%	$615K	$1.3M	25x	as long as short
Phoenix ZEClong	+0.0075%	1h	1,470.8	long leg	$4.6M	$1.6M	10x
Popdex ZECUSDT	+0.0096%	1h	1,474.7	+0.262%	$176K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,475.4	+0.310%	$12K	$828K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.6	+0.257%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,475	+0.289%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,476	+0.354%	$765.9M	$479.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,475	+0.285%	$15.7M	$32.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475.2	+0.297%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474.5	+0.251%	$681.5M	$2.47B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475.3	+0.307%	$714K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.1	+0.022%	$908K	$26K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,474.6	+0.258%	$224.9M	$827.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.8	+0.273%	$104.3M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.5	+0.248%	$162.9M	$304.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,473.6	+0.189%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.8	+0.002%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,471	+0.012%	$3.0M	$482K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,472.7	+0.126%	$432K	$827K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,474.7	+0.263%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.7	+0.265%	$348K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.4	+0.247%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.1	+0.159%	$449K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.5	+0.384%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,473.8	+0.201%	$2.5M	$23.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,475	+0.284%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,475.2	+0.299%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474.4	+0.248%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,475.4	+0.315%	$836K	$1.3M	10x	as long as short
Lighter ZEC	+0.0136%	1h	1,476.6	+0.395%	$19.1M	$52.1M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,476.8	+0.409%	$3.8M	$11.5M	50x	as long as short
Lighter RH ZEC	+0.0472%	1h	1,476.6	+0.396%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0620%	1h	1,473	+0.150%	$41K	$34K	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0645%	1h	1,475.7	+0.334%	$2.4M	$3.7M	15x	as long as short