Funding you earn now, next payment 20:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.036%
Price spread now: Variational Omni against Phoenix+0.006%54s7-day average −0.170% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.181%−$18 on $10k
+Price spread, last 7 days−0.193%−$19 · spread now +0.006%, 7d avg −0.170%
=Together, before fees−0.373%+ Points / potential airdropVariational Omni: Active · farm board−$37 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.176% dearer against Phoenix than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.170%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.8 days. At the pace of the last 3 days (−0.181% in total) that is about 3.1 days. The two prices were read 54 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 | 1,455.2 | 0.0045 | pay 0.0006% / 1h | 58m 25s | $4.6M | $1.5M | 10x |
| Short | Variational Omni ZEC | 1,455.2 | −0.0041 | pay 0.0041% / 8h | 2h 58m | $46.3M | $31.5M | — |
Phoenix ZEC
Variational Omni ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$18.11
- Price spread: +0.006% → −0.170%
- $17.6
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$7.52
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 5 min ago; Variational Omni: RFQ quote, 1 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 | 1.51 bp | 6.2 bp −$6 | 13.0 bp −$130 | 87.4 bp −$8,737 | doesn't fit |
| Sell Variational Omni RFQ quote, 1 min ago | 4.58 bp | doesn't fit | 6.6 bp −$66 | 14.3 bp −$1,429 | 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 | 1,455 | −0.009% | $34K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,452.4 | −0.191% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,452.3 | −0.194% | $17.6M | $45.0M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0058% | 8h | 1,452.6 | −0.174% | $29.2M | $76.3M | 75x | as long as short |
| Variational Omni ZECshort | −0.0041% | 8h | 1,455.2 | +0.006% | $46.3M | $31.5M | — | |
| Ondo Perps ZEC-USD.P | −0.0041% | 1h | 1,454.2 | −0.066% | $395K | $523K | 5x | as long as short |
| Bybit ZECUSDT | −0.0023% | 8h | 1,450.4 | −0.330% | $268.6M | $677.8M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,453 | −0.150% | $409K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,453.7 | −0.100% | $850K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,450.8 | −0.301% | $82K | $400K | 10x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Ondo Perps ZEC-USD.P
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ZEC_USDC | +0.0004% | 8h | 1,452.7 | −0.168% | $291K | $1.5M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0007% | 1h | 1,453.3 | −0.126% | $569K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,451.2 | −0.270% | $5.1M | — | 150x | as long as short |
| Polymarket Perps ZEC-USD | +0.0017% | 1h | 1,450.6 | −0.313% | $298K | $2.1M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0031% | 8h | 1,450.7 | −0.309% | $172.4M | $1.37B | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0043% / S +0.0060% | 1h | 1,452.8 | −0.164% | $535K | — | 100x | as long as short |
| Phoenix ZEClong | +0.0045% | 1h | 1,455.2 | long leg | $4.6M | $1.5M | 10x | |
| Aster ZECUSDT | +0.0047% | 8h | 1,451.6 | −0.248% | $15.0M | $35.0M | 75x | as long as short |
| Gate ZEC_USDT | +0.0052% | 8h | 1,451.4 | −0.260% | $49.2M | $183.7M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,451.1 | −0.280% | $8K | $8K | 5x | as long as short |
| MEXC ZEC_USDT | +0.0091% | 8h | 1,451.1 | −0.282% | $213.2M | $876.1M | 150x | as long as short |
| Binance ZECUSDT | +0.0093% | 8h | 1,450.6 | −0.313% | $660.1M | $2.55B | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,451.3 | −0.268% | $17K | $886K | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,450.6 | −0.311% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,451.5 | −0.252% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.8 | −0.229% | $3.0M | $7.0M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,451.6 | −0.245% | $753.1M | $506.8M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.9 | −0.226% | $1.6M | $3.1M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,454.9 | −0.019% | $896K | $37K | 10x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,450.5 | −0.317% | $103.7M | $57.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,451 | −0.284% | $162.9M | $317.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,450.4 | −0.326% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,452.9 | −0.154% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,454.7 | −0.032% | $488K | $9.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,454.8 | −0.023% | $3.0M | $512K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,454.2 | −0.065% | $712K | $608K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,453 | −0.152% | $109K | $4.8M | 30x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,451.1 | −0.280% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,451.5 | −0.252% | $441K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456 | +0.054% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,452.7 | −0.166% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,451.8 | −0.230% | $2.4M | $25.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,452.7 | −0.167% | $3.7M | $5.6M | 50x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,453.1 | −0.141% | $36K | $362K | 20x | as long as short |
| Lighter ZEC | +0.0136% | 1h | 1,452.7 | −0.169% | $18.8M | $53.5M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,451.4 | −0.258% | $861K | $2.5M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,456.3 | +0.075% | $3.7M | $11.6M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0462% | 1h | 1,454.8 | −0.028% | $39K | $32K | 10x | as long as short |
| Lighter RH ZEC | +0.0464% | 1h | 1,453.6 | −0.104% | $2.0M | $8.3M | 10x | as long as short |
| Extended ZEC-USD | +0.0504% | 1h | 1,451.5 | −0.252% | $3.3M | $7.0M | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,454 | −0.077% | $752K | $7.8M | 10x | as long as short |
Orderly PERP_ZEC_USDC
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Polymarket Perps ZEC-USD
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
Aster ZECUSDT
Gate ZEC_USDT
01 Exchange ZECUSD
MEXC ZEC_USDT
Binance ZECUSDT
Katana Perps ZEC-USD
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Bulk ZEC-USD
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Lighter RH ZEC
Extended ZEC-USD
Arcus ZEC-USD