ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0003%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.039%

Price spread now: Hyperliquid against Phoenix+0.039%81s7-day average −0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.228% of the position

Long on Phoenix Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

Price spread, last 7 days−0.147%−$15 · spread now +0.039%, 7d avg −0.108%

Together, before fees−0.385%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.147% dearer against Phoenix than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.108%. The two prices were read 81 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	1,455.5	0.0103	pay 0.0013% / 1h	17m 54s	$4.6M	$1.6M	10x
Short	Hyperliquid ZEC	1,456.1	0.0100	get 0.0013% / 1h	17m 54s	$752.4M	$494.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$0.7
Price spread: +0.039% → −0.108%: $14.69
Slippage, 4 orders: −$6.83
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$8.84
Costs to cover: 0.228%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; Hyperliquid: live order book, 6 min ago.

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, 6 min ago	1.51 bp	6.1 bp −$6	13.4 bp −$134	88.8 bp −$8,884	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.34 bp	5.8 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit

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	−0.3476%	1h	1,433.1	−1.538%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,456.6	+0.075%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.1	+0.105%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,455.4	−0.010%	$17.7M	$44.6M	25x	as long as short
Deribit ZEC_USDC-PERPETUAL	−0.0004%	1h	1,456	+0.030%	$592K	$1.3M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.2	+0.117%	$410K	$106K	5x	as long as short
Bybit ZECUSDT	0.0000%	8h	1,454.1	−0.101%	$267.6M	$677.1M	75x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,456.6	+0.077%	$933K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,455.8	+0.016%	$83K	$401K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.2	+0.045%	$5.2M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEC	+0.0008%	8h	1,455.6	+0.004%	$45.8M	$33.2M	—	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,455.4	−0.012%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0021% / S +0.0071%	1h	1,455.8	+0.016%	$556K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,455.8	+0.017%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,454.9	−0.047%	$173.3M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0072%	8h	1,455.1	−0.027%	$49.4M	$190.5M	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0082%	1h	1,454.6	−0.064%	$395K	$521K	5x	as long as short
Aster ZECUSDT	+0.0095%	8h	1,455.5	−0.002%	$15.3M	$34.4M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,456.1	+0.041%	$13K	$872K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,456.9	+0.092%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,455.4	−0.010%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.4	+0.057%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.7	+0.079%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZECshort	+0.0100%	1h	1,456.1	+0.039%	$752.4M	$494.5M	10x
Pacifica ZEC	+0.0100%	1h	1,456.3	+0.054%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,455	−0.039%	$663.7M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,454.8	−0.047%	$216.7M	$897.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,455	−0.037%	$102.9M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,454.8	−0.050%	$161.0M	$313.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,455.7	+0.013%	—	$101.3M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,455.8	+0.018%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.3	+0.056%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.5	0.000%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457	+0.100%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.3	+0.121%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,455.3	−0.016%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.2	−0.021%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.2	−0.090%	$442K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.4	+0.130%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455.4	−0.012%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456.3	+0.053%	$2.4M	$25.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.1	+0.036%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	−0.037%	$896K	$26K	10x	as long as short
Phoenix ZEClong	+0.0103%	1h	1,455.5	long leg	$4.6M	$1.6M	10x
Extended ZEC-USD	+0.0104%	1h	1,455.8	+0.015%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.6	+0.001%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,456.3	+0.050%	$862K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,457.9	+0.161%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0454%	1h	1,456.6	+0.075%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,457.8	+0.156%	$747K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0632%	1h	1,457.4	+0.130%	$1.9M	$8.5M	10x	as long as short