Funding you earn now, next payment 01:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.044%
Price spread now: Perpl against Phoenix−0.269%7-day average −0.147% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.503%−$50 on $10k
+Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.269%, 7d avg −0.147%
=Together, before fees−0.143%+ Points / potential airdropPerpl: Active · farm board−$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Perpl is 0.122% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.147%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,470 | 0.0070 | pay 0.0009% / 1h | 6m 55s | $4.6M | $1.5M | 10x |
| Short | Perpl ZEC | 1,466 | 0 | get 0.0000% / 43m | 11m 55s | $84K | $251K | 10x |
Phoenix ZEC
Perpl ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl 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
- −$14.74
- Price spread: −0.269% → −0.147%
- −$12.19
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- −$47.73
- Costs to cover
- 0.208%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 2 min ago; Perpl: 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, 2 min ago | 1.84 bp | 6.8 bp −$7 | 15.4 bp −$154 | 104.4 bp −$10.4K | doesn't fit |
| Sell Perpl no order-book sample | — | — | — | — | — |
Perpl: 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 50 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 | −0.3678% | 1h | 1,456 | −0.950% | $34K | $274K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,467.1 | −0.196% | $6K | $1K | 10x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0041% | 1h | 1,467.9 | −0.142% | $399K | $502K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0002% | 1h | 1,466.6 | −0.233% | $18.1M | $43.6M | 25x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,466.1 | −0.262% | $413K | $51K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,467 | −0.205% | $971K | $4.8M | 2.2x | as long as short |
| Perpl ZECshort | 0.0000% | 43m | 1,466 | −0.269% | $84K | $251K | 10x | |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,466.2 | −0.256% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0031% | 8h | 1,466 | −0.271% | $293K | $992K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0009% | 1h | 1,466.1 | −0.263% | $383K | — | 100x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
dYdX ZEC-USD
Kalshi KXZECPERP
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]Show all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,466.6 | −0.230% | $8K | $8K | 5x | as long as short |
| Variational Omni ZEC | +0.0067% | 8h | 1,470.6 | +0.043% | $48.0M | $32.8M | — | as long as short |
| Phoenix ZEClong | +0.0070% | 1h | 1,470 | long leg | $4.6M | $1.5M | 10x | |
| OKX ZEC-USDT-SWAP | +0.0094% | 8h | 1,466.9 | −0.214% | $180.4M | $1.25B | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,466.1 | −0.263% | $173K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,466.2 | −0.261% | $12K | $841K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,466.2 | −0.256% | $60K | $40K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,466.8 | −0.216% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,467.7 | −0.156% | $764.6M | $434.4M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,466.3 | −0.254% | $14.8M | $29.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,466.7 | −0.221% | $1.7M | $2.7M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,466.7 | −0.222% | $678.3M | $2.29B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,466.4 | −0.247% | $271.3M | $612.6M | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,472.8 | +0.189% | $894K | $18K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,466.5 | −0.238% | $50.1M | $176.9M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,466.6 | −0.232% | $215.7M | $802.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,466.6 | −0.228% | $103.1M | $56.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,466.8 | −0.219% | $162.9M | $279.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,465.8 | −0.285% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,468.8 | −0.078% | $571K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,467.5 | −0.169% | $3.0M | $453K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,468 | −0.133% | $427K | $884K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,467.3 | −0.186% | $71K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,466 | −0.271% | $343K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,466 | −0.269% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,464.7 | −0.360% | $455K | $512K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,468.2 | −0.120% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,466.2 | −0.258% | $242K | $3.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,466.4 | −0.245% | $2.5M | $18.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,467.1 | −0.198% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,466.4 | −0.241% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,466 | −0.270% | $48K | $158K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0190% | 1h | 1,467 | −0.207% | $610K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0232% | 1h | 1,468 | −0.133% | $19.2M | $48.3M | 20x | as long as short |
| Arcus ZEC-USD | +0.0254% | 1h | 1,468.6 | −0.093% | $700K | $8.6M | 10x | as long as short |
| Lighter RH ZEC | +0.0288% | 1h | 1,468.3 | −0.112% | $2.1M | $7.1M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0374% | 1h | 1,467 | −0.202% | $852K | $1.0M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0427% | 1h | 1,467.1 | −0.197% | $2.4M | $3.9M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0472% | 1h | 1,468.2 | −0.120% | $3.6M | $9.0M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0738% | 1h | 1,469.9 | −0.006% | $43K | $46K | 10x | as long as short |
01 Exchange ZECUSD
Variational Omni ZEC
OKX ZEC-USDT-SWAP
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
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
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Arcus ZEC-USD
Lighter RH ZEC
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD