Funding you earn now, next payment 21:00 UTC−0.0003%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.025%
Price spread now: Nado against Phoenix−0.443%7-day average −0.101% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$250.252% of the position
Funding, last 3 days (all we have)−0.159%−$16 on $10k
+Price spread, last 7 days+0.323%+$32 · spread now −0.443%, 7d avg −0.101%
=Together, before fees+0.164%+ Points / potential airdropNado: Active · farm board+$16 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: Nado is 0.342% cheaper against Phoenix than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of −0.101%.
| 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 | 32m 55s | $4.5M | $1.6M | 10x |
| Short | Nado ZEC-PERP | 1,445.9 | 0.0100 | get 0.0012% / 1h | 32m 55s | $2.4M | $7.1M | 10x |
Phoenix ZEC
Nado ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$0.7
- Price spread: −0.443% → −0.101%
- −$34.24
- Slippage, 4 orders
- −$11.17
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$60.12
- Costs to cover
- 0.252%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 6 min ago; Nado: live order book, 1 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 | 2.27 bp | 7.4 bp −$7 | 15.7 bp −$157 | 121.4 bp −$12.1K | doesn't fit |
| Sell Nado live order book, 1 min ago | 0.04 bp | 5.9 bp −$6 | 13.2 bp −$132 | 44.8 bp −$4,478 | 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 | 1,438.5 | −0.952% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0096% | 8h | 1,445.3 | −0.483% | $28.7M | $74.7M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,445.3 | −0.483% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0072% | 1h | 1,444.5 | −0.540% | $17.6M | $44.5M | 25x | as long as short |
| Variational Omni ZEC | −0.0009% | 8h | 1,449.1 | −0.222% | $45.6M | $32.2M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,445.1 | −0.495% | $407K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,445.2 | −0.491% | $907K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,444.7 | −0.523% | $82K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,445.3 | −0.481% | $588K | $1.3M | 25x | as long as short |
| Bybit ZECUSDT | +0.0005% | 8h | 1,444.9 | −0.515% | $266.4M | $675.5M | 75x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
Bybit ZECUSDTShow 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 | 1,445.1 | −0.498% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,444.9 | −0.515% | $290K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0029% / S +0.0070% | 1h | 1,444.7 | −0.522% | $543K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0054% | 8h | 1,445.6 | −0.466% | $171.1M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0071% | 8h | 1,444.5 | −0.538% | $49.4M | $188.1M | 75x | as long as short |
| Aster ZECUSDT | +0.0076% | 8h | 1,444.6 | −0.532% | $15.2M | $34.7M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0080% | 1h | 1,445.6 | −0.466% | $7K | $8K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,445 | −0.508% | $13K | $873K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,446.1 | −0.428% | $18.7M | $54.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,445.4 | −0.475% | $173K | $2.0M | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0098% | 1h | 1,448.2 | −0.284% | $394K | $518K | 5x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,446 | −0.437% | $59K | $37K | 10x | as long as short |
| Nado ZEC-PERPshort | +0.0100% | 1h | 1,445.9 | −0.443% | $2.4M | $7.1M | 10x | |
| Hyperliquid ZEC | +0.0100% | 1h | 1,444.9 | −0.512% | $746.8M | $493.4M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,445.5 | −0.473% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,445.3 | −0.486% | $657.7M | $2.53B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,452.5 | +0.012% | $895K | $33K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,445.2 | −0.494% | $213.9M | $891.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,444.6 | −0.534% | $102.6M | $56.6M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,445.1 | −0.496% | $160.1M | $313.1M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,444.6 | −0.535% | — | $102.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,445.3 | −0.486% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,449.9 | −0.169% | $488K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,448.7 | −0.251% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,451.4 | −0.063% | $706K | $607K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,450.2 | −0.145% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,444.9 | −0.512% | $297K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,444.6 | −0.529% | $126K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,443.3 | −0.620% | $439K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,446.5 | −0.401% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,444.8 | −0.518% | $219K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,445.1 | −0.496% | $2.4M | $24.8M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,445 | −0.502% | $3.7M | $5.3M | 50x | as long as short |
| Phoenix ZEClong | +0.0103% | 1h | 1,452.3 | long leg | $4.5M | $1.6M | 10x | |
| Extended ZEC-USD | +0.0104% | 1h | 1,445.7 | −0.458% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,444.9 | −0.513% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,446.3 | −0.419% | $863K | $1.9M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,447 | −0.364% | $3.7M | $11.4M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0449% | 1h | 1,450 | −0.157% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,447.5 | −0.329% | $768K | $7.9M | 10x | as long as short |
| Lighter RH ZEC | +0.0696% | 1h | 1,447 | −0.369% | $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
Gate ZEC_USDT
Aster ZECUSDT
01 Exchange ZECUSD
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Ondo Perps ZEC-USD.P
Paradex ZEC-USD-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC