Funding you earn now, next payment 22:00 UTC+0.0025%/8h= +2.7% APRnext payment +$0.03 per $10,000 · paid last 24h −0.034%
Price spread now: SoDEX against Phoenix+0.157%70s7-day average −0.089% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.218% of the position
Funding, last 3 days (all we have)−0.183%−$18 on $10k
+Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.157%, 7d avg −0.089%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.246% dearer against Phoenix than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.089%. Mind the row above: over the last 3 days funding on this pair cost −0.183%, so the current rate has only just turned in your favour. The two prices were read 70 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 | 1,461.4 | 0.0075 | pay 0.0009% / 1h | 33m 49s | $4.6M | $1.6M | 10x |
| Short | SoDEX ZEC-USD | 1,463.7 | 0.0100 | get 0.0013% / 1h | 33m 49s | $222K | $4.5M | 10x |
Phoenix ZEC
SoDEX ZEC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $5.16
- Price spread: +0.157% → −0.089%
- $24.61
- Slippage, 4 orders
- −$6.77
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- $7.99
- Costs to cover
- 0.218%
- Break-even
- from the start
Slippage from Phoenix: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago | 1.78 bp | 6.6 bp −$7 | 14.4 bp −$144 | 99.2 bp −$9,918 | doesn't fit |
| Sell SoDEX live order book, 5 min ago | 0.03 bp | 4.5 bp −$4 | 15.7 bp −$157 | 104.1 bp −$10.4K | 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 | −0.3310% | 1h | 1,448.2 | −0.898% | $33K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0405% | 1h | 1,463.5 | +0.148% | $17.8M | $44.9M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0214% | 1h | 1,459.3 | −0.141% | $396K | $518K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0089% | 8h | 1,463.7 | +0.162% | $29.3M | $75.3M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,463.8 | +0.168% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0051% | 8h | 1,461.6 | +0.015% | $270.6M | $673.4M | 75x | as long as short |
| Variational Omni ZEC | −0.0025% | 8h | 1,460.9 | −0.029% | $46.5M | $34.0M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0024% | 1h | 1,463.5 | +0.145% | $430K | $820K | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L −0.0017% / S +0.0093% | 1h | 1,463.7 | +0.161% | $541K | — | 100x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,462.8 | +0.098% | $412K | $106K | 5x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
ApeX Omni ZECUSDT
GMX ZEC/USD [WBTC.b-USDC]
dYdX ZEC-USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXZECPERP | 0.0000% | 8h | 1,463.8 | +0.168% | $885K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,462.9 | +0.104% | $83K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,463.8 | +0.164% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0013% | 8h | 1,463.4 | +0.142% | $292K | $1.5M | 20x | as long as short |
| Bulk ZEC-USD | +0.0030% | 1h | 1,466 | +0.319% | $905K | $27K | 10x | as long as short |
| Gate ZEC_USDT | +0.0047% | 8h | 1,463.1 | +0.118% | $50.0M | $184.9M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0048% | 8h | 1,462.7 | +0.094% | $176.0M | $1.35B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,462.4 | +0.073% | $8K | $8K | 5x | as long as short |
| Phoenix ZEClong | +0.0075% | 1h | 1,461.4 | long leg | $4.6M | $1.6M | 10x | |
| Deribit ZEC_USDC-PERPETUAL | +0.0081% | 1h | 1,464.4 | +0.207% | $596K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,464 | +0.180% | $19.0M | $52.5M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,462.4 | +0.069% | $173K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,462.8 | +0.100% | $14K | $862K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,463 | +0.115% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,463.7 | +0.157% | $2.5M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,463.8 | +0.167% | $758.7M | $484.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,463 | +0.111% | $15.6M | $33.2M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,463.7 | +0.158% | $1.7M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,462.4 | +0.070% | $673.9M | $2.50B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,463.1 | +0.122% | $222.9M | $861.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,463.1 | +0.118% | $103.7M | $56.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,463.2 | +0.126% | $161.9M | $306.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,462.4 | +0.073% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,461.4 | +0.001% | $509K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,462.2 | +0.058% | $3.0M | $481K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,463.9 | +0.170% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462 | +0.044% | $343K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,462.1 | +0.051% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,461.9 | +0.037% | $447K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,464.3 | +0.204% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USDshort | +0.0100% | 1h | 1,463.7 | +0.157% | $222K | $4.5M | 10x | |
| HTX ZEC-USDT | +0.0100% | 8h | 1,462.6 | +0.084% | $2.5M | $24.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,463.5 | +0.147% | $3.8M | $5.4M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,463.5 | +0.146% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,463.6 | +0.153% | $36K | $367K | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0187% | 1h | 1,464 | +0.179% | $2.3M | $3.8M | 15x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,463.1 | +0.122% | $841K | $1.6M | 10x | as long as short |
| Lighter RH ZEC | +0.0384% | 1h | 1,464.4 | +0.205% | $2.0M | $8.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,465.8 | +0.300% | $3.7M | $11.6M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,464.5 | +0.212% | $738K | $8.1M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0545% | 1h | 1,464.5 | +0.216% | $40K | $34K | 10x | as long as short |
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Bulk ZEC-USD
Gate ZEC_USDT
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Backpack ZEC_USDC_PERP
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD