Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: MEXC against Phemex−0.124%50s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as 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−$360.357% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now −0.124%, 7d avg −0.027%

Together, before fees−0.196%−$20 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: MEXC is 0.097% cheaper against Phemex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.027%. 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	Phemex ZECUSDT	1,486.5	0.0100	pay 0.0100% / 8h	1h 44m	$4.0M	$5.0M	50x
Short	MEXC ZEC_USDT	1,484.6	0.0100	get 0.0100% / 8h	1h 44m	$238.6M	$777.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0
Price spread: −0.124% → −0.027%: −$9.74
Slippage, 4 orders: −$23.71
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$45.45
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; MEXC: 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 Phemex live order book, 4 min ago	1.01 bp	15.7 bp −$16	27.9 bp −$279	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.10 bp	0.1 bp $0	0.3 bp −$3	18.5 bp −$1,852	70.0 bp −$35.0K

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	−0.3684%	1h	1,484.2	−0.153%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0118%	8h	1,486.7	+0.014%	$30.8M	$73.9M	75x	as long as short
Bulk ZEC-USD	−0.0097%	1h	1,490.7	+0.283%	$901K	$15K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,484.2	−0.150%	$18.0M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,485.5	−0.062%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,485.3	−0.076%	$413K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,485.6	−0.056%	$1.6M	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,484.3	−0.145%	$61K	$297K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,484.6	−0.124%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0074%	8h	1,483.5	−0.199%	$298K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,485.1	−0.092%	$158K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,485.2	−0.082%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,484.5	−0.130%	$13.9M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,484.9	−0.106%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,484.8	−0.114%	$691.2M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,483.9	−0.170%	$269.6M	$624.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,483.6	−0.189%	$179.8M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,484.2	−0.151%	$405K	$505K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,484.8	−0.109%	$54.4M	$180.5M	75x	as long as short
MEXC ZEC_USDTshort	+0.0100%	8h	1,484.6	−0.124%	$238.6M	$777.2M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,485	−0.098%	$102.1M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,484.3	−0.145%	$160.2M	$287.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,484.3	−0.148%	—	$114.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,486.7	+0.016%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,484.4	−0.140%	$48.5M	$33.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,483.7	−0.186%	$567K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,485.5	−0.064%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,484.3	−0.148%	$411K	$932K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,484.7	−0.117%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,484.1	−0.158%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,484.7	−0.121%	$163K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,482.8	−0.245%	$453K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,486.3	−0.009%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,486.6	+0.012%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,485	−0.098%	$2.6M	$19.5M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,486.5	long leg	$4.0M	$5.0M	50x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,485	−0.100%	$61K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,484.7	−0.120%	$11K	$864K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,484.1	−0.157%	$2.7M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,483.5	−0.197%	$42K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,485.8	−0.046%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0124% / S −0.0112%	1h	1,484.1	−0.155%	$430K	—	100x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,485	−0.097%	$929K	$1.2M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,485	−0.100%	$4.7M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0151%	1h	1,484.7	−0.120%	$706K	$1.4M	25x	as long as short
Aftermath Perps ZECUSD	+0.0188%	1h	1,485.2	−0.082%	$48K	$63K	10x	as long as short
Hyperliquid ZEC	+0.0191%	1h	1,486.1	−0.024%	$772.2M	$440.9M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,486.9	+0.028%	$622K	$8.6M	10x	as long as short
Lighter ZEC	+0.0280%	1h	1,486.1	−0.023%	$19.4M	$45.5M	20x	as long as short
Lighter RH ZEC	+0.0280%	1h	1,486	−0.029%	$2.1M	$7.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,488	+0.102%	$3.6M	$9.9M	50x	as long as short