ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h +0.008%

Price spread now: Phoenix against Polymarket Perps+0.061%7-day average +0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs+$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.604%+$60 on $10k

Price spread, last 7 days+0.190%+$19 · spread now +0.061%, 7d avg +0.151%

Together, before fees+0.794%+$79 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.090% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.061% now, against its 7-day average of +0.151%). If the spread goes back, that is −$9 on $10k: about 19 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.604% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZEC-USD	1,461.8	0.0100	pay 0.0013% / 1h	12m 40s	$356K	$1.8M	10x
Short	Phoenix ZEC	1,462.7	0.0116	get 0.0015% / 1h	12m 40s	$4.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now +0.061%Rate

Funding earned: $3.39
Price spread: +0.061% → +0.151%: −$8.97
Slippage, 4 orders: −$11.01
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.59
Costs to cover: 0.260%
Break-even: 72.2 days

Slippage from Polymarket Perps: live order book, 1 min ago; Phoenix: 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 Polymarket Perps live order book, 1 min ago	2.39 bp	6.4 bp −$6	9.2 bp −$92	doesn't fit	doesn't fit
Sell Phoenix live order book, 1 min ago	1.57 bp	6.3 bp −$6	13.9 bp −$139	51.6 bp −$5,155	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	−0.3042%	1h	1,461.1	−0.051%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,463.4	+0.107%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,461.9	+0.003%	$29.6M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462.8	+0.068%	$407K	$40K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,461.5	−0.021%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,461.8	+0.003%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,461.6	−0.012%	$292K	$916K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0078%	1h	1,460.4	−0.096%	$396K	$435K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0087% / S −0.0039%	1h	1,461.8	−0.001%	$436K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.9	+0.077%	$175K	$1.6M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,464.1	+0.157%	$14K	$804K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463	+0.084%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,462.1	+0.021%	$2.8M	$6.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,463	+0.084%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.8	+0.071%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462.9	+0.078%	$673.5M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,462.3	+0.036%	$262.0M	$589.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,462.8	+0.070%	$179.5M	$1.21B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.081%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,462.8	+0.071%	$52.3M	$172.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462.6	+0.052%	$220.3M	$772.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462.8	+0.066%	$103.2M	$53.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,463.1	+0.088%	$166.1M	$268.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,462.8	+0.068%	—	$106.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,458.8	−0.207%	$47.8M	$32.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,460.1	−0.117%	$568K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,461.4	−0.027%	$3.0M	$464K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,458.6	−0.216%	$403K	$944K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.1	+0.019%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USDlong	+0.0100%	1h	1,461.8	long leg	$356K	$1.8M	10x
Bullet ZEC-USD	+0.0100%	1h	1,461.7	−0.010%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.7	−0.076%	$446K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.2	+0.166%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.7	−0.008%	$234K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461.5	−0.024%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,461.8	−0.003%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.9	+0.077%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.4	−0.024%	$47K	$151K	20x	as long as short
Phoenix ZECshort	+0.0116%	1h	1,462.7	+0.061%	$4.7M	$1.3M	10x
Lighter RH ZEC	+0.0120%	1h	1,464.3	+0.172%	$2.1M	$7.0M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,463.6	+0.122%	$8K	$7K	5x	as long as short
Hyperliquid ZEC	+0.0146%	1h	1,464.2	+0.164%	$763.0M	$424.8M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,463.5	+0.117%	$19.4M	$45.4M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0183%	1h	1,462.7	+0.058%	$616K	$1.3M	25x	as long as short
Kalshi KXZECPERP	+0.0187%	8h	1,462.4	+0.044%	$1.5M	$4.4M	2.2x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,463.3	+0.102%	$925K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0284%	1h	1,462.4	+0.044%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0332%	1h	1,461.6	−0.016%	$18.1M	$45.1M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,464.3	+0.171%	$685K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,465.2	+0.230%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0679%	1h	1,460.9	−0.063%	$45K	$49K	10x	as long as short