Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0590%/8h= +64.6% APRpaid last 24h +0.142%

Price spread now: Aftermath Perps against Phemex−0.161%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 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. Aftermath Perps is 0.161% cheaper against Phemex than usual: you would sell low and buy high (spread −0.161% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 22 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ZECUSDT	1,472.3	0.0100	pay 0.0100% / 8h	2h 30m	$3.9M	$4.8M	50x
Short	Aftermath Perps ZECUSD	1,469.9	0.0690	get 0.0086% / 1h	30m 34s	$45K	$49K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now −0.161%Rate

Funding earned: $123.93
Price spread: −0.161% → 0.000%: −$16.11
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $86.82
Costs to cover: 0.210%
Break-even: 2.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Aftermath Perps: no order-book sample. 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 Phemex live order book, 3 min ago	5.92 bp	20.6 bp −$21	26.8 bp −$268	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath 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	−0.3243%	1h	1,473.3	+0.070%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.4	−0.124%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0079%	8h	1,472.6	+0.026%	$29.9M	$71.2M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.8	+0.108%	$410K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.9	+0.041%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,471.5	−0.051%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.2	−0.007%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,472.6	+0.025%	$294K	$896K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,473	+0.053%	$8K	$7K	5x	as long as short
Bybit ZECUSDT	+0.0090%	8h	1,472.5	+0.014%	$261.6M	$588.5M	75x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,470.9	−0.092%	$4.7M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.6	+0.023%	$174K	$1.6M	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0098% / S −0.0051%	1h	1,471.6	−0.043%	$438K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,472.1	−0.012%	$13K	$812K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.3	+0.071%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,472	−0.017%	$2.9M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.7	+0.166%	$767.8M	$419.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.1	+0.059%	$14.4M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.3	+0.070%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.9	+0.047%	$679.7M	$2.16B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,472.5	+0.015%	$178.9M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,466.9	−0.363%	$399K	$430K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.4	+0.011%	$889K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,472.7	+0.033%	$53.5M	$171.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472.8	+0.039%	$222.8M	$762.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473	+0.052%	$103.6M	$52.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473	+0.052%	$166.8M	$267.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,472.6	+0.022%	—	$107.9M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,471.5	−0.053%	$48.3M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469	−0.220%	$555K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,472.2	−0.001%	$3.0M	$455K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470.8	−0.099%	$407K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,469.7	−0.173%	$49K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.3	−0.065%	$360K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471.8	−0.034%	$162K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471.4	−0.058%	$449K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.1	+0.127%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.8	+0.038%	$235K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470.8	−0.102%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,472.3	long leg	$3.9M	$4.8M	50x
Extended ZEC-USD	+0.0104%	1h	1,472.9	+0.041%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.6	+0.024%	$46K	$152K	20x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,474.5	+0.154%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0139%	1h	1,473.1	+0.055%	$620K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0146%	1h	1,472.8	+0.038%	$18.0M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,473.1	+0.058%	$930K	$1.1M	10x	as long as short
Lighter ZEC	+0.0184%	1h	1,474.4	+0.144%	$19.5M	$44.0M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0368%	1h	1,473	+0.050%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,474.1	+0.126%	$3.8M	$9.2M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,474.2	+0.132%	$663K	$8.1M	10x	as long as short
Aftermath Perps ZECUSDshort	+0.0690%	1h	1,469.9	−0.161%	$45K	$49K	10x