Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.009%

Price spread now: MEXC against Phoenix+0.072%47s7-day average −0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as 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−$130.129% of the position

Long on Phoenix Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.554%−$55 on $10k

Price spread, last 7 days−0.231%−$23 · spread now +0.072%, 7d avg −0.126%

Together, before fees−0.785%−$79 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: MEXC is 0.198% dearer against Phoenix than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.126%. The two prices were read 47 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	1,514.3	0.0096	pay 0.0012% / 1h	0m 29s	$4.8M	$1.4M	10x
Short	MEXC ZEC_USDT	1,515.4	0.0100	get 0.0100% / 8h	0m 29s	$262.3M	$832.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0.93
Price spread: +0.072% → −0.126%: $19.85
Slippage, 4 orders: −$5.86
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $7.92
Costs to cover: 0.129%
Break-even: from the start

Slippage from Phoenix: live order book, 3 min ago; MEXC: live order book, 4 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, 3 min ago	1.65 bp	6.4 bp −$6	14.4 bp −$144	94.7 bp −$9,466	doesn't fit
Sell MEXC live order book, 4 min ago	0.03 bp	0.0 bp $0	0.2 bp −$2	32.8 bp −$3,284	75.7 bp −$37.9K

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	−0.3442%	1h	1,496.3	−1.189%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,513.1	−0.075%	$62K	$306K	10x	as long as short
Bulk ZEC-USD	−0.0412%	1h	1,508.1	−0.407%	$776K	$147K	10x	as long as short
BloFin ZEC-USDT	−0.0163%	8h	1,515.2	+0.059%	$31.4M	$77.0M	75x	as long as short
Aftermath Perps ZECUSD	−0.0097%	1h	1,511.1	−0.208%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,515.1	+0.052%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,513.8	−0.029%	$421K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,514.3	+0.004%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,514.9	+0.043%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0011%	1h	1,515	+0.047%	$18.3M	$47.8M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0070%	1h	1,510	−0.282%	$413K	$552K	5x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,515.2	+0.064%	$8K	$6K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,514.3	+0.005%	$305K	$863K	20x	as long as short
Phoenix ZEClong	+0.0096%	1h	1,514.3	long leg	$4.8M	$1.4M	10x
Lighter RH ZEC	+0.0096%	1h	1,515.9	+0.108%	$2.1M	$7.7M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,515.2	+0.059%	$177K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,515	+0.047%	$16K	$897K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,515.1	+0.054%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,515.3	+0.069%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,515.2	+0.061%	$792.8M	$447.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,514.5	+0.017%	$14.2M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,515	+0.049%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,515.3	+0.069%	$716.1M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,514.5	+0.016%	$273.7M	$627.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,515	+0.048%	$183.4M	$1.38B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,515.2	+0.063%	$60.0M	$191.6M	75x	as long as short
MEXC ZEC_USDTshort	+0.0100%	8h	1,515.4	+0.072%	$262.3M	$832.1M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,514.6	+0.022%	$103.8M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,515.2	+0.061%	$163.7M	$294.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,515	+0.045%	—	$119.8M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,513.8	−0.032%	$50.0M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.8	−0.227%	$578K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,510.9	−0.225%	$3.1M	$532K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,509.9	−0.287%	$416K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,514.1	−0.013%	$54K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,515.4	+0.075%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,515	+0.048%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,513.2	−0.072%	$462K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.8	+0.167%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.5	+0.016%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,513.2	−0.074%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,515.5	+0.081%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,515.2	+0.058%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,514.7	+0.031%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,515.4	+0.074%	$962K	$1.1M	10x	as long as short
Lighter ZEC	+0.0128%	1h	1,516	+0.111%	$19.7M	$47.1M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0146%	1h	1,515.3	+0.066%	$692K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0151% / S −0.0151%	1h	1,515.1	+0.053%	$336K	—	100x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,515.6	+0.088%	$596K	$8.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,516.2	+0.127%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0491%	1h	1,515.2	+0.063%	$2.4M	$3.8M	15x	as long as short