Funding you earn now, next payment 22:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.024%
Price spread now: Phoenix against Katana Perps−0.573%50s7-day average +0.136% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.195%+$20 on $10k
+Price spread, last 7 days+0.716%+$72 · spread now −0.573%, 7d avg +0.136%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.709% cheaper against Katana Perps than usual: you would sell low and buy high (−$71 if the spread goes back to its 7-day average of +0.136%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.195%, so the current rate has only just turned against you. The two prices were read 50 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 | Katana Perps ZEC-USD | 1,468 | 0.0096 | pay 0.0096% / 8h | 1h 45m | $14K | $864K | 10x |
| Short | Phoenix ZEC | 1,459.6 | 0.0075 | get 0.0009% / 1h | 45m 46s | $4.6M | $1.6M | 10x |
Katana Perps ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Katana Perps. 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
- −$4.28
- Price spread: −0.573% → +0.136%
- −$70.85
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$85.93
- Costs to cover
- 0.108%
- Break-even
- never at this rate
Slippage unknown: Katana Perps: no order-book sample; Phoenix: 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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 3 min ago | 2.25 bp | 7.4 bp −$7 | 17.3 bp −$173 | 57.6 bp −$5,760 | doesn't fit |
Katana Perps: 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 | −0.3310% | 1h | 1,462.9 | −0.347% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0404% | 1h | 1,467.8 | −0.012% | $17.8M | $44.7M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0118% | 1h | 1,466.9 | −0.077% | $398K | $521K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0097% | 8h | 1,467.7 | −0.026% | $29.3M | $75.6M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,466.4 | −0.114% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0045% | 8h | 1,468.5 | +0.029% | $271.8M | $675.5M | 75x | as long as short |
| Variational Omni ZEC | −0.0023% | 8h | 1,459.1 | −0.606% | $46.4M | $34.1M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469.2 | +0.082% | $414K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,468.6 | +0.036% | $889K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,467.8 | −0.014% | $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
dYdX ZEC-USD
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 | 1,468.3 | +0.015% | $5.2M | — | 150x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0009% / S +0.0079% | 1h | 1,468.2 | +0.010% | $543K | — | 100x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,467.7 | −0.020% | $294K | $1.5M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0039% | 1h | 1,468.7 | +0.044% | $598K | $1.3M | 25x | as long as short |
| ApeX Omni ZECUSDT | +0.0039% | 1h | 1,463.4 | −0.315% | $430K | $818K | 50x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0051% | 8h | 1,468.5 | +0.033% | $176.2M | $1.36B | 50x | as long as short |
| Bulk ZEC-USD | +0.0054% | 1h | 1,460.6 | −0.508% | $899K | $25K | 10x | as long as short |
| Gate ZEC_USDT | +0.0060% | 8h | 1,468.8 | +0.051% | $49.9M | $184.1M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,468.2 | +0.014% | $8K | $8K | 5x | as long as short |
| Phoenix ZECshort | +0.0075% | 1h | 1,459.6 | −0.573% | $4.6M | $1.6M | 10x | |
| Katana Perps ZEC-USDlong | +0.0096% | 8h | 1,468 | long leg | $14K | $864K | 10x | |
| Lighter ZEC | +0.0096% | 1h | 1,470.6 | +0.177% | $19.0M | $52.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,467.8 | −0.016% | $174K | $1.9M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,468.5 | +0.030% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,468.6 | +0.041% | $2.5M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,469.9 | +0.127% | $761.5M | $490.2M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,469.4 | +0.091% | $15.4M | $33.1M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,469.4 | +0.093% | $1.7M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,468.8 | +0.051% | $676.1M | $2.52B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,468.7 | +0.042% | $224.1M | $854.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,469 | +0.065% | $103.4M | $56.5M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,469.2 | +0.080% | $163.0M | $308.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,467.8 | −0.015% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,459.8 | −0.558% | $509K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,458.9 | −0.621% | $3.0M | $492K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,466.9 | −0.078% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,467.6 | −0.029% | $345K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,467.7 | −0.024% | $128K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,466.3 | −0.117% | $448K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,470.1 | +0.140% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,468 | −0.001% | $223K | $4.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,468 | −0.005% | $2.4M | $23.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,468.5 | +0.032% | $3.8M | $5.4M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,468.9 | +0.059% | $3.3M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,467.9 | −0.007% | $37K | $367K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,468.4 | +0.028% | $844K | $1.8M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0226% | 1h | 1,468.5 | +0.029% | $2.3M | $4.0M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,470.5 | +0.171% | $3.7M | $11.7M | 50x | as long as short |
| Lighter RH ZEC | +0.0432% | 1h | 1,470.9 | +0.197% | $2.0M | $8.2M | 10x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,469.1 | +0.074% | $730K | $8.1M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0525% | 1h | 1,465.2 | −0.191% | $41K | $34K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
GMX ZEC/USD [WBTC.b-USDC]
Orderly PERP_ZEC_USDC
Deribit ZEC_USDC-PERPETUAL
ApeX Omni ZECUSDT
OKX ZEC-USDT-SWAP
Bulk ZEC-USD
Gate ZEC_USDT
01 Exchange ZECUSD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
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
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Arcus ZEC-USD
Aftermath Perps ZECUSD