Funding you earn now, next payment 21:00 UTC−0.3579%/8h= −391.9% APRnext payment −$4.47 per $10,000 · paid last 24h −0.411%
Price spread now: Injective against Phoenix−0.994%7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.616%−$262 on $10k
+Price spread, last 3 days (all we have)+2.675%+$268 · spread now −0.994%, 7d avg +0.008%
=Both sides work against this trade now: funding costs −$107 a day on $10k at the current rate, and Injective is 1.003% cheaper against Phoenix than usual: you would sell low and buy high (−$100 if the spread goes back to its 7-day average of +0.008%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,452.3 | 0.0103 | pay 0.0013% / 1h | 49m 14s | $4.6M | $1.6M | 10x |
| Short | Injective ZEC/USDC PERP | 1,437.8 | −0.3476 | pay 0.0434% / 1h | 49m 14s | $33K | $275K | 12x |
Phoenix ZEC
Injective ZEC/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$751.62
- Price spread: −0.994% → +0.008%
- −$100.28
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$858.92
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 5 min ago; Injective: live order book, 39 min ago. 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, 5 min ago | 2.20 bp | 7.3 bp −$7 | 16.4 bp −$164 | 119.1 bp −$11.9K | doesn't fit |
| Sell Injective live order book, 39 min ago | 58.14 bp | doesn't fit | doesn't fit | 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 PERPshort | −0.3476% | 1h | 1,437.8 | −0.994% | $33K | $275K | 12x | |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,454.7 | +0.170% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,452.8 | +0.041% | $17.6M | $44.6M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0066% | 8h | 1,452.8 | +0.041% | $28.9M | $75.5M | 75x | as long as short |
| Variational Omni ZEC | −0.0026% | 8h | 1,451.7 | −0.038% | $45.5M | $32.1M | — | as long as short |
| Bybit ZECUSDT | −0.0009% | 8h | 1,452.4 | +0.012% | $269.2M | $677.1M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,454.8 | +0.178% | $410K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,454.1 | +0.125% | $848K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,453.1 | +0.056% | $82K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,453.5 | +0.088% | $566K | $1.3M | 25x | as long as short |
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow 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 | 1,452.9 | +0.043% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0009% | 8h | 1,452.9 | +0.044% | $291K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0065% | 1h | 1,452.3 | +0.007% | $543K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0039% | 8h | 1,453.1 | +0.058% | $172.3M | $1.36B | 50x | as long as short |
| Aster ZECUSDT | +0.0059% | 8h | 1,454.2 | +0.136% | $15.3M | $35.2M | 75x | as long as short |
| Gate ZEC_USDT | +0.0065% | 8h | 1,452.4 | +0.010% | $49.1M | $185.5M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0072% | 1h | 1,454.1 | +0.126% | $8K | $8K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,453.8 | +0.105% | $17K | $886K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,454.3 | +0.139% | $18.7M | $53.9M | 20x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0096% | 1h | 1,449.8 | −0.169% | $394K | $517K | 5x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,453.2 | +0.068% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,453.7 | +0.100% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,454 | +0.120% | $3.0M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,453.8 | +0.107% | $751.6M | $493.4M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,453.8 | +0.107% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,452.3 | +0.006% | $658.8M | $2.55B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,455 | +0.187% | $896K | $37K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,452.9 | +0.041% | $218.0M | $881.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,452.9 | +0.043% | $103.5M | $57.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,452.9 | +0.047% | $161.9M | $316.4M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,452.1 | −0.011% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,455 | +0.191% | $2.3M | $4.2M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,453.4 | +0.079% | $487K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,455.2 | +0.200% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,452.6 | +0.027% | $706K | $606K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,452.6 | +0.025% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,452.6 | +0.024% | $298K | $2.1M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,452.5 | +0.018% | $126K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,451.7 | −0.039% | $441K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456 | +0.256% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,452.9 | +0.048% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,453 | +0.052% | $2.4M | $25.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,452.9 | +0.046% | $3.7M | $5.4M | 50x | as long as short |
| Phoenix ZEClong | +0.0103% | 1h | 1,452.3 | long leg | $4.6M | $1.6M | 10x | |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,452.9 | +0.048% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,454.5 | +0.156% | $863K | $2.5M | 10x | as long as short |
| Extended ZEC-USD | +0.0272% | 1h | 1,453.1 | +0.057% | $3.3M | $7.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,454.8 | +0.177% | $3.7M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0462% | 1h | 1,453.5 | +0.089% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,456.3 | +0.280% | $751K | $7.8M | 10x | as long as short |
| Lighter RH ZEC | +0.0728% | 1h | 1,455.1 | +0.198% | $1.9M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Aster ZECUSDT
Gate ZEC_USDT
01 Exchange ZECUSD
Katana Perps ZEC-USD
Lighter ZEC
Ondo Perps ZEC-USD.P
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Aevo ZEC-PERP
RISEx ZEC/USDC
Extended ZEC-USD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC