Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX−0.114%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1471.473% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)+0.516%+$52 · spread now −0.114%, 7d avg −0.080%

Together, before fees+0.328%+$33 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: Phemex is 0.034% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEC-USDT	1,512.3	0.0100	pay 0.0100% / 8h	7h 22m	$3K	$1.2M	20x
Short	Phemex ZECUSDT	1,510.5	0.0100	get 0.0100% / 8h	7h 22m	$4.0M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.080%: −$3.41
Slippage, 4 orders: −$127.3
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$150.71
Costs to cover: 1.473%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Phemex: live order book, 6 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 SunX live order book, 11 min ago	29.05 bp	49.3 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	0.33 bp	19.7 bp −$20	35.7 bp −$357	doesn't fit	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	−0.3702%	1h	1,488.8	−1.550%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,510	−0.153%	$62K	$304K	10x	as long as short
Aftermath Perps ZECUSD	−0.0225%	1h	1,506.9	−0.356%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0167%	8h	1,510	−0.150%	$31.8M	$76.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,508.8	−0.231%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,508.4	−0.256%	$417K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,510.6	−0.110%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,510.4	−0.122%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,510.5	−0.117%	$18.4M	$47.5M	25x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,510.3	−0.134%	$8K	$6K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0082%	1h	1,509.5	−0.186%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,510	−0.151%	$305K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,511.6	−0.045%	$19.6M	$45.2M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,511.6	−0.046%	$2.1M	$7.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,510.5	−0.118%	$172K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,510	−0.153%	$16K	$895K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,510	−0.152%	$62K	$16K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,509.5	−0.181%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,509.7	−0.170%	$789.5M	$441.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,509.2	−0.201%	$14.2M	$30.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,509.8	−0.163%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,509.6	−0.174%	$712.2M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,508.6	−0.241%	$271.9M	$617.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,509	−0.214%	$184.8M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,508.6	−0.243%	$409K	$547K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,510.7	−0.103%	$596K	$8.9M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,503.8	−0.563%	$774K	$147K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,509.8	−0.165%	$61.0M	$186.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,510	−0.152%	$407.5M	$838.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,510.7	−0.104%	$103.5M	$56.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,509.4	−0.188%	$163.7M	$295.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,508.5	−0.249%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,506.5	−0.385%	$49.9M	$35.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,508.4	−0.253%	$557K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,508.2	−0.266%	$3.1M	$541K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.9	−0.485%	$413K	$952K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,509.5	−0.184%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,510.7	−0.104%	$375K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,510.4	−0.125%	$169K	$192K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502	−0.678%	$449K	$419K	6.7x	as long as short
SunX ZEC-USDTlong	+0.0100%	8h	1,512.3	long leg	$3K	$1.2M	20x
SoDEX ZEC-USD	+0.0100%	1h	1,510.4	−0.124%	$255K	$3.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,509.7	−0.167%	$2.7M	$21.0M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,510.5	−0.114%	$4.0M	$4.9M	50x
Extended ZEC-USD	+0.0104%	1h	1,509.8	−0.166%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,510.3	−0.127%	$45K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,510.2	−0.139%	$954K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0162% / S −0.0167%	1h	1,510.1	−0.143%	$335K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0184%	1h	1,511.4	−0.059%	$692K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0209%	1h	1,510.9	−0.094%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,510.1	−0.142%	$3.8M	$10.0M	50x	as long as short