Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.086%

Price spread now: Phemex against ApeX Omni+0.262%77s7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.535% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+1.027%+$103 on $10k

Price spread, last 4 days (all we have)+0.595%+$60 · spread now +0.262%, 7d avg +0.166%

Together, before fees+1.623%+$162 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 0.096% dearer against ApeX Omni than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.166%. The two prices were read 77 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	ApeX Omni ZECUSDT	1,486.6	0.0100	pay 0.0013% / 1h	19m 43s	$409K	$942K	50x
Short	Phemex ZECUSDT	1,490.5	0.0100	get 0.0100% / 8h	1h 19m	$4.0M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now +0.262%Rate

Funding earned: $0
Price spread: +0.262% → +0.166%: $9.62
Slippage, 4 orders: −$31.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.87
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 24 min ago; Phemex: live order book, 4 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 ApeX Omni live order book, 24 min ago	4.76 bp	10.5 bp −$11	32.7 bp −$327	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	5.52 bp	18.6 bp −$19	31.5 bp −$315	doesn't fit	doesn't fit

ZEC on 50 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	−0.3684%	1h	1,461.9	−1.658%	$36K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0147%	8h	1,488.2	+0.110%	$30.5M	$74.5M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,490.6	+0.270%	$18.1M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,487.2	+0.041%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	+0.040%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496.4	+0.659%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,489.5	+0.198%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,488	+0.096%	$62K	$304K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,487.2	+0.044%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0069%	1h	1,483.9	−0.176%	$47K	$64K	10x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0078%	8h	1,489.3	+0.186%	$300K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,489.4	+0.192%	$168K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,488.8	+0.149%	$12K	$876K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,489.7	+0.213%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,496	+0.636%	$14.0M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,496.5	+0.668%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,496.1	+0.639%	$697.1M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,496	+0.637%	$267.7M	$633.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,496.7	+0.684%	$182.3M	$1.33B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,484.2	−0.158%	$406K	$512K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,493.6	+0.475%	$54.8M	$184.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,496.3	+0.655%	$248.7M	$789.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,496.5	+0.667%	$102.8M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,496.9	+0.694%	$161.2M	$289.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,496.6	+0.673%	—	$116.1M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,485.5	−0.068%	$48.4M	$34.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,485.6	−0.066%	$570K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,487.2	+0.045%	$3.0M	$511K	10x	as long as short
ApeX Omni ZECUSDTlong	+0.0100%	1h	1,486.6	long leg	$409K	$942K	50x
StandX ZEC-USD	+0.0100%	1h	1,487.4	+0.054%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,489.4	+0.192%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,489.6	+0.203%	$164K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,491.8	+0.350%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,490	+0.235%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,490	+0.231%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,490.5	+0.262%	$4.0M	$5.0M	50x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,496.7	+0.685%	$62K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,492.4	+0.395%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,489.9	+0.228%	$43K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,489.9	+0.227%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,489.6	+0.203%	$932K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,487.9	+0.094%	$4.7M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0136%	1h	1,490.6	+0.270%	$681K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0145%	1h	1,490.5	+0.266%	$2.3M	$3.9M	15x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0150% / S −0.0164%	1h	1,490.3	+0.254%	$482K	—	100x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,497	+0.700%	$632K	$8.7M	10x	as long as short
Hyperliquid ZEC	+0.0228%	1h	1,495.6	+0.609%	$777.2M	$442.6M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,496.8	+0.692%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,498.2	+0.784%	$19.8M	$46.0M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,492.2	+0.383%	$3.7M	$10.0M	50x	as long as short