Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.017%

Price spread now: RISEx against Phemex+0.060%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.236%+$24 on $10k

Price spread, last 4 days (all we have)−0.407%−$41 · spread now +0.060%, 7d avg +0.003%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.056% dearer against Phemex than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.003%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.8 days. Mind the row above: over the last 4 days funding on this pair paid +0.236%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ZECUSDT	1,500.7	0.0100	pay 0.0100% / 8h	5h 45m	$4.0M	$4.8M	50x
Short	RISEx ZEC/USDC	1,501.6	0.0032	get 0.0004% / 1h	45m 24s	$923K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$14.18
Price spread: +0.060% → +0.003%: $5.62
Slippage, 4 orders: −$22.32
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$48.87
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; RISEx: live order book, 1 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, 1 min ago	2.80 bp	10.6 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	1.20 bp	4.2 bp −$4	7.9 bp −$79	doesn't fit	doesn't fit

ZEC on 50 exchanges

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	−0.4130%	1h	1,490.6	−0.674%	$36K	$267K	12x	as long as short
ApeX Omni ZECUSDT	−0.0332%	1h	1,499.4	−0.083%	$410K	$949K	50x	as long as short
BloFin ZEC-USDT	−0.0199%	8h	1,499.1	−0.103%	$32.0M	$72.7M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0178%	1h	1,495.8	−0.325%	$407K	$496K	5x	as long as short
Aftermath Perps ZECUSD	−0.0085%	1h	1,500.4	−0.019%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,501.2	+0.031%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,500.3	−0.027%	$413K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,500.8	+0.007%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,500.2	−0.033%	$63K	$300K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,499.6	−0.073%	$5.3M	—	150x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0024%	1h	1,502.4	+0.111%	$8K	$6K	5x	as long as short
RISEx ZEC/USDCshort	+0.0032%	1h	1,501.6	+0.060%	$923K	$1.3M	10x
Deribit ZEC_USDC-PERPETUAL	+0.0038%	1h	1,501	+0.023%	$684K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0060%	1h	1,501	+0.018%	$4.8M	$1.3M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0068%	8h	1,502.7	+0.133%	$303K	$748K	20x	as long as short
Aster ZECUSDT	+0.0087%	8h	1,502.4	+0.115%	$14.1M	$27.4M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,501.4	+0.051%	$20.0M	$39.2M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,502.5	+0.119%	$2.0M	$7.1M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,502	+0.088%	$170K	$1.4M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,500.6	−0.005%	$25K	$876K	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,500.4	−0.017%	$18.5M	$45.9M	25x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,501.5	+0.054%	$62K	$14K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,502.2	+0.101%	$3.1M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,502.3	+0.108%	$789.6M	$431.0M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501.4	+0.051%	$1.7M	$1.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503	+0.152%	$706.5M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,502.5	+0.123%	$275.3M	$588.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,502.9	+0.147%	$185.8M	$1.30B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,502	+0.089%	$593K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,497.1	−0.242%	$776K	$159K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,501.6	+0.064%	$62.9M	$172.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,502.3	+0.109%	$181.4M	$827.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,501.1	+0.030%	$105.1M	$52.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,501.6	+0.064%	$164.1M	$278.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,501.6	+0.063%	—	$6.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,500.5	−0.010%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,499.5	−0.081%	$49.3M	$34.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,498.1	−0.170%	$547K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,500.6	−0.003%	$3.1M	$609K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,498.8	−0.125%	$111K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,501.6	+0.061%	$369K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,502.6	+0.126%	$167K	$188K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,502.3	+0.111%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,500.2	−0.032%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,499.9	−0.049%	$2.6M	$20.5M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,500.7	long leg	$4.0M	$4.8M	50x
Extended ZEC-USD	+0.0104%	1h	1,501.6	+0.063%	$2.7M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,502.3	+0.109%	$37K	$163K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0188% / S −0.0200%	1h	1,502.8	+0.142%	$350K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0352%	1h	1,502.7	+0.137%	$3.9M	$9.5M	50x	as long as short