ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h −0.039%

Price spread now: Bulk against Phoenix−0.070%51s7-day average −0.127% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.193% of the position

Long on Phoenix Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.220%−$22 on $10k

Price spread, last 4 days (all we have)+0.336%+$34 · spread now −0.070%, 7d avg −0.127%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bulk is 0.056% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.127%. Mind the row above: over the last 3 days funding on this pair cost −0.220%, so the current rate has only just turned in your favour. The two prices were read 51 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	Phoenix ZEC	1,470.8	0.0024	pay 0.0003% / 1h	26m 24s	$4.6M	$1.6M	10x
Short	Bulk ZEC-USD	1,469.8	0.0100	get 0.0013% / 1h	26m 24s	$894K	$39K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Phoenix. 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 PhoenixbpFee BulkbpOrdersPrice spread, now −0.070%Rate

Funding earned: $15.98
Price spread: −0.070% → −0.127%: $5.62
Slippage, 4 orders: −$5.33
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $2.26
Costs to cover: 0.193%
Break-even: 6.0 days

Slippage from Phoenix: live order book, 2 min ago; Bulk: live order book, 53 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 Phoenix live order book, 2 min ago	1.50 bp	6.1 bp −$6	13.4 bp −$134	112.0 bp −$11.2K	doesn't fit
Sell Bulk live order book, 53 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	4.0 bp −$402	6.6 bp −$3,297

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	−0.3089%	1h	1,471.6	+0.054%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0261%	1h	1,468.3	−0.169%	$399K	$515K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,471.5	+0.047%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0115%	8h	1,470.5	−0.021%	$275.0M	$653.3M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,472.2	+0.095%	$29.8M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	+0.124%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0057%	8h	1,468.8	−0.136%	$46.8M	$33.8M	—	as long as short
ApeX Omni ZECUSDT	−0.0006%	1h	1,470.3	−0.036%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.1	+0.157%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.1	−0.044%	$903K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,471.6	+0.056%	$84K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471.4	+0.044%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,471.3	+0.036%	$295K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,471.5	+0.049%	$8K	$8K	5x	as long as short
Phoenix ZEClong	+0.0024%	1h	1,470.8	long leg	$4.6M	$1.6M	10x
OKX ZEC-USDT-SWAP	+0.0037%	8h	1,471.1	+0.024%	$180.8M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0045%	8h	1,472.4	+0.109%	$50.9M	$186.6M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,471	+0.013%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,474.3	+0.237%	$19.2M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.1	+0.019%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.2	−0.042%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472.4	+0.106%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.8	+0.069%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.3	+0.103%	$763.3M	$474.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.2	+0.099%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.3	+0.167%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.5	+0.050%	$684.5M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,473.1	+0.154%	$702K	$8.4M	10x	as long as short
Bulk ZEC-USDshort	+0.0100%	1h	1,469.8	−0.070%	$894K	$39K	10x
MEXC ZEC_USDT	+0.0100%	8h	1,471.3	+0.033%	$231.6M	$838.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.3	+0.031%	$103.6M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.3	+0.036%	$163.1M	$301.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,470.5	−0.017%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.6	−0.014%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.2	−0.043%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.2	−0.039%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471	+0.014%	$344K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471	+0.012%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469.7	−0.072%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.8	+0.135%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.2	+0.029%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471	+0.014%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.5	+0.118%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.5	+0.116%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	+0.025%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,472	+0.080%	$825K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0273%	1h	1,472.4	+0.110%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0413%	1h	1,473.6	+0.189%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.5	+0.185%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,475.1	+0.292%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0722%	1h	1,472.4	+0.109%	$46K	$47K	10x	as long as short