Funding you earn now, next payment 09:00 UTC+0.0213%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.084%
Price spread now: Coinbase International against Phoenix−0.104%72s7-day average +0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as 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−$350.345% of the position
Funding, last 7 days−0.333%−$33 on $10k
+Price spread, last 4 days (all we have)+0.583%+$58 · spread now −0.104%, 7d avg +0.041%
=Funding pays, the price is against you. Coinbase International is 0.145% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of +0.041%). If the spread goes back, that is −$15 on $10k: about 2.3 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.333%, so the current rate has only just turned in your favour. The two prices were read 72 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 | 1,506.5 | 0.0139 | pay 0.0017% / 1h | 54m 16s | $4.8M | $1.3M | 10x |
| Short | Coinbase International ZEC-PERP-INTX | 1,504.9 | 0.0352 | get 0.0044% / 1h | 54m 16s | $3.9M | $9.5M | 50x |
Phoenix ZEC
Coinbase International ZEC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phoenix. 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
- $44.66
- Price spread: −0.104% → +0.041%
- −$14.51
- Slippage, 4 orders
- −$17.52
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$4.37
- Costs to cover
- 0.345%
- Break-even
- 7.7 days
Slippage from Phoenix: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago | 1.53 bp | 6.2 bp −$6 | 13.7 bp −$137 | 113.8 bp −$11.4K | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 1.19 bp | 10.0 bp −$10 | 14.8 bp −$148 | 48.0 bp −$4,798 | 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 | 1,480 | −1.758% | $36K | $267K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0186% | 8h | 1,502.9 | −0.236% | $31.8M | $72.9M | 75x | as long as short |
| Aftermath Perps ZECUSD | −0.0094% | 1h | 1,504.1 | −0.154% | $46K | $58K | 10x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,503.6 | −0.190% | $6K | $1K | 10x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0068% | 1h | 1,500.9 | −0.369% | $409K | $498K | 5x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,502.7 | −0.252% | $414K | $37K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,504.4 | −0.135% | $1.5M | $4.9M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,502 | −0.296% | $63K | $300K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,502.8 | −0.243% | $5.3M | — | 150x | as long as short |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,503.1 | −0.225% | $8K | $6K | 5x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Aftermath Perps ZECUSD
Hotstuff ZEC-PERP
Ondo Perps ZEC-USD.P
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
01 Exchange ZECUSDShow all 50 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx ZEC/USDC | +0.0032% | 1h | 1,502.8 | −0.244% | $909K | $1.3M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0049% | 1h | 1,503.5 | −0.197% | $685K | $1.3M | 25x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0070% | 8h | 1,502.3 | −0.274% | $303K | $856K | 20x | as long as short |
| Aster ZECUSDT | +0.0095% | 8h | 1,502.6 | −0.258% | $14.1M | $26.9M | 75x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,504.2 | −0.153% | $19.9M | $38.9M | 20x | as long as short |
| Lighter RH ZEC | +0.0096% | 1h | 1,504.5 | −0.129% | $2.1M | $7.0M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,502.8 | −0.245% | $169K | $1.5M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,502.6 | −0.260% | $25K | $880K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0099% | 1h | 1,503.4 | −0.206% | $18.5M | $46.1M | 25x | as long as short |
| Paradex ZEC-USD-PERP | +0.0099% | 8h | 1,502.9 | −0.238% | $62K | $14K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,503.2 | −0.217% | $3.1M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,503.9 | −0.170% | $789.4M | $429.4M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,503.6 | −0.190% | $1.7M | $1.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,502.8 | −0.240% | $707.5M | $2.19B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,502.7 | −0.250% | $276.0M | $588.5M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,502.7 | −0.251% | $185.8M | $1.30B | 50x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,503.7 | −0.184% | $594K | $8.4M | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,502.9 | −0.235% | $62.8M | $171.6M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,503.1 | −0.223% | $178.0M | $823.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,502.8 | −0.242% | $105.3M | $53.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,502.9 | −0.240% | $164.2M | $279.2M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,502 | −0.295% | — | $6.6M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,503.2 | −0.215% | $2.2M | $3.7M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,505.7 | −0.050% | $49.5M | $34.0M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,504.6 | −0.127% | $550K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,506.7 | +0.017% | $3.1M | $599K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,504.2 | −0.147% | $411K | $948K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,505.8 | −0.044% | $112K | $4.5M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,502.9 | −0.236% | $370K | $1.6M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,502.9 | −0.234% | $167K | $188K | 20x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,504.9 | −0.105% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,502.9 | −0.236% | $257K | $3.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,502.3 | −0.274% | $2.6M | $20.5M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,503.3 | −0.207% | $4.0M | $4.8M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,505.5 | −0.062% | $781K | $158K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,502.9 | −0.239% | $2.7M | $7.1M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,502.4 | −0.268% | $37K | $163K | 20x | as long as short |
| Phoenix ZEClong | +0.0139% | 1h | 1,506.5 | long leg | $4.8M | $1.3M | 10x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0185% / S −0.0196% | 1h | 1,503.2 | −0.219% | $350K | — | 100x | as long as short |
| Coinbase International ZEC-PERP-INTXshort | +0.0352% | 1h | 1,504.9 | −0.104% | $3.9M | $9.5M | 50x |
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Orderly PERP_ZEC_USDC
Aster ZECUSDT
Lighter ZEC
Lighter RH ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Kraken Futures PF_ZECUSD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Arcus ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Bulk ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
GMX ZEC/USD [WBTC.b-USDC]