Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.027%

Price spread now: Phemex against 01 Exchange−0.073%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.073% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 20 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ZECUSD	1,460.3	0.0088	pay 0.0011% / 1h	0m 28s	$8K	$7K	5x
Short	Phemex ZECUSDT	1,459.2	0.0100	get 0.0100% / 8h	4h 00m	$3.8M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now −0.073%Rate

Funding earned: $2.52
Price spread: −0.073% → 0.000%: −$7.26
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$23.74
Costs to cover: 0.190%
Break-even: 72.9 days

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 3 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.12 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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 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	−0.3166%	1h	1,457.9	−0.160%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,458.3	−0.134%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,459.1	−0.079%	$29.5M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,458.2	−0.142%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	−0.114%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,460	−0.016%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,460	−0.016%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,460	−0.018%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S −0.0023%	1h	1,460.1	−0.013%	$410K	—	100x	as long as short
01 Exchange ZECUSDlong	+0.0088%	1h	1,460.3	long leg	$8K	$7K	5x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,459.7	−0.042%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.6	−0.043%	$10K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.4	−0.061%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.6	−0.046%	$2.9M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,461.8	+0.105%	$760.4M	$431.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,459.3	−0.066%	$14.8M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,459.5	−0.053%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,460.4	+0.007%	$670.8M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,459.6	−0.049%	$262.0M	$602.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,460	−0.018%	$178.5M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.6	−0.183%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	−0.187%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,460.1	−0.010%	$50.6M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.3	+0.004%	$215.5M	$777.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,459.9	−0.025%	$103.0M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.3	−0.001%	$166.0M	$270.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,459.4	−0.058%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.6	−0.182%	$47.8M	$32.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,458.8	−0.102%	$568K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.1	−0.079%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,459.1	−0.081%	$405K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.7	−0.179%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,460	−0.018%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,460.3	+0.004%	$161K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.9	−0.096%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,460.5	+0.018%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,458.4	−0.125%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458	−0.155%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,459.2	−0.073%	$3.8M	$5.1M	50x
Extended ZEC-USD	+0.0104%	1h	1,459.2	−0.074%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,460	−0.020%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.7	−0.109%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0189%	1h	1,459.4	−0.061%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0248%	1h	1,460.5	+0.017%	$19.3M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,458.4	−0.126%	$18.0M	$45.2M	25x	as long as short
Lighter RH ZEC	+0.0312%	1h	1,460.7	+0.027%	$2.1M	$7.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0319%	1h	1,459.2	−0.074%	$616K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,459.6	−0.047%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,459.9	−0.024%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,460.5	+0.014%	$679K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0678%	1h	1,459.2	−0.070%	$45K	$49K	10x	as long as short