Funding you earn now, next payment 22:00 UTC+0.0075%/8h= +8.3% APRnext payment +$0.09 per $10,000 · paid last 24h +0.053%
Price spread now: Phoenix against dYdX−0.086%46s7-day average +0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as 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−$910.914% of the position
Funding, last 7 days+0.352%+$35 on $10k
+Price spread, last 4 days (all we have)−0.421%−$42 · spread now −0.086%, 7d avg +0.109%
=Funding pays, the price is against you. Phoenix is 0.195% cheaper against dYdX than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.109%). If the spread goes back, that is −$19 on $10k: about 8.6 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.352% in total) that is about 3.9 days. The two prices were read 46 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 | dYdX ZEC-USD | 1,469.5 | 0 | get 0.0000% / 1h | 8m 28s | $414K | $104K | 5x |
| Short | Phoenix ZEC | 1,468.2 | 0.0075 | get 0.0009% / 1h | 8m 28s | $4.6M | $1.6M | 10x |
dYdX ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. 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
- $15.84
- Price spread: −0.086% → +0.109%
- −$19.46
- Slippage, 4 orders
- −$74.41
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$95.03
- Costs to cover
- 0.914%
- Break-even
- 49.0 days
Slippage from dYdX: live order book, 11 min ago; Phoenix: live order book, 5 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 dYdX live order book, 11 min ago | 30.89 bp | 43.2 bp −$43 | 53.0 bp −$530 | 89.5 bp −$8,951 | 310.7 bp −$155.4K |
| Sell Phoenix live order book, 5 min ago | 1.50 bp | 6.1 bp −$6 | 13.4 bp −$134 | 49.3 bp −$4,929 | 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 | −0.3310% | 1h | 1,469.5 | +0.003% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0403% | 1h | 1,469.4 | −0.007% | $17.9M | $44.5M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0249% | 1h | 1,466.9 | −0.175% | $398K | $515K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0118% | 8h | 1,468.8 | −0.048% | $29.3M | $75.6M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469.1 | −0.024% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0074% | 8h | 1,467.8 | −0.117% | $271.8M | $665.4M | 75x | as long as short |
| Variational Omni ZEC | −0.0034% | 8h | 1,466.7 | −0.189% | $46.6M | $33.4M | — | as long as short |
| dYdX ZEC-USDlong | 0.0000% | 1h | 1,469.5 | long leg | $414K | $104K | 5x | |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,469.5 | +0.003% | $889K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,468.9 | −0.040% | $83K | $404K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,468.9 | −0.037% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0009% | 8h | 1,469.1 | −0.024% | $294K | $1.4M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0009% | 1h | 1,468.8 | −0.043% | $359K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0040% | 8h | 1,468.2 | −0.089% | $177.8M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0045% | 8h | 1,468.7 | −0.052% | $50.0M | $187.1M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,469.4 | −0.003% | $8K | $8K | 5x | as long as short |
| Phoenix ZECshort | +0.0075% | 1h | 1,468.2 | −0.086% | $4.6M | $1.6M | 10x | |
| ApeX Omni ZECUSDT | +0.0088% | 1h | 1,467.7 | −0.121% | $430K | $825K | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,468.8 | −0.047% | $174K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,469.5 | −0.001% | $13K | $823K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,468.7 | −0.053% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,469.6 | +0.012% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,469.5 | +0.005% | $762.6M | $477.8M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,468.9 | −0.037% | $15.6M | $32.5M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,469.5 | −0.001% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,468.8 | −0.048% | $677.5M | $2.47B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,467.7 | −0.118% | $906K | $27K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,468.2 | −0.085% | $223.9M | $871.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,468.3 | −0.080% | $103.7M | $55.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,468.4 | −0.073% | $162.3M | $303.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,467.9 | −0.108% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,467.4 | −0.138% | $511K | $9.3M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,467.5 | −0.137% | $3.0M | $481K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,469.4 | −0.004% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,468.8 | −0.046% | $346K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,468.3 | −0.082% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,467.7 | −0.122% | $447K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,471.5 | +0.135% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,469.3 | −0.011% | $223K | $4.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,468.3 | −0.080% | $2.5M | $23.6M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,469.3 | −0.013% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,469.3 | −0.015% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,469 | −0.032% | $37K | $366K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0112% | 1h | 1,470.3 | +0.053% | $598K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0120% | 1h | 1,470.4 | +0.065% | $19.0M | $52.7M | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0189% | 1h | 1,469.8 | +0.022% | $2.4M | $3.7M | 15x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,469.4 | −0.008% | $843K | $1.3M | 10x | as long as short |
| Lighter RH ZEC | +0.0416% | 1h | 1,471.1 | +0.112% | $2.0M | $8.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,471.9 | +0.167% | $3.8M | $11.5M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,470 | +0.036% | $720K | $8.2M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0591% | 1h | 1,468.5 | −0.063% | $41K | $34K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
01 Exchange ZECUSD
ApeX Omni ZECUSDT
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Backpack ZEC_USDC_PERP
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD