Funding you earn now, next payment 06:00 UTC−0.0134%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h −0.030%
Price spread now: dYdX against Phoenix−0.468%46s7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as 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−$740.744% of the position
Funding, last 7 days−0.340%−$34 on $10k
+Price spread, last 4 days (all we have)+0.705%+$70 · spread now −0.468%, 7d avg −0.097%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and dYdX is 0.370% cheaper against Phoenix than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.097%). Swap the legs. The two prices were read 46 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 | 1,490.8 | 0.0134 | pay 0.0017% / 1h | 48m 29s | $4.7M | $1.4M | 10x |
| Short | dYdX ZEC-USD | 1,483.9 | 0 | get 0.0000% / 1h | 48m 29s | $412K | $35K | 5x |
Phoenix ZEC
dYdX ZEC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$28.06
- Price spread: −0.468% → −0.097%
- −$37.03
- Slippage, 4 orders
- −$57.41
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$139.5
- Costs to cover
- 0.744%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; dYdX: live order book, 61 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, 5 min ago | 2.28 bp | 7.4 bp −$7 | 18.1 bp −$181 | 157.2 bp −$15.7K | doesn't fit |
| Sell dYdX live order book, 61 min ago | 23.80 bp | 28.8 bp −$29 | 46.2 bp −$462 | 82.2 bp −$8,224 | 119.4 bp −$59.7K |
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 | 1,491.6 | +0.050% | $34K | $273K | 12x | as long as short |
| ApeX Omni ZECUSDT | −0.0140% | 1h | 1,485.7 | −0.343% | $411K | $932K | 50x | as long as short |
| BloFin ZEC-USDT | −0.0118% | 8h | 1,484.5 | −0.427% | $30.7M | $73.8M | 75x | as long as short |
| Bulk ZEC-USD | −0.0097% | 1h | 1,490.7 | −0.012% | $901K | $15K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0097% | 1h | 1,484.6 | −0.419% | $18.0M | $46.4M | 25x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,484.2 | −0.442% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USDshort | 0.0000% | 1h | 1,483.9 | −0.468% | $412K | $35K | 5x | |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,486.1 | −0.319% | $1.6M | $4.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,482.1 | −0.583% | $61K | $297K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,484.1 | −0.449% | $706K | $1.4M | 25x | as long as short |
Injective ZEC/USDC PERP
ApeX Omni ZECUSDT
BloFin ZEC-USDT
Bulk ZEC-USD
Kraken Futures PF_ZECUSD
Hotstuff ZEC-PERP
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,484 | −0.459% | $5.3M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0073% | 8h | 1,483.7 | −0.477% | $298K | $1.1M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,482.8 | −0.537% | $157K | $1.7M | 50x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,482.7 | −0.544% | $2.8M | $6.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,483 | −0.528% | $14.1M | $30.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,484 | −0.460% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,483 | −0.527% | $690.3M | $2.29B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,482.9 | −0.531% | $269.6M | $627.5M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,483 | −0.527% | $179.7M | $1.31B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,480.8 | −0.673% | $405K | $505K | 5x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,483.6 | −0.488% | $54.0M | $180.1M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,483.1 | −0.521% | $233.6M | $775.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,482.7 | −0.547% | $101.7M | $56.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,482.9 | −0.534% | $160.1M | $287.9M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,483.6 | −0.488% | — | $114.4M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,485.5 | −0.361% | $2.3M | $3.9M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,483 | −0.527% | $48.4M | $33.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,488.1 | −0.181% | $569K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,485.3 | −0.370% | $3.0M | $488K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,484 | −0.461% | $56K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,482.4 | −0.565% | $358K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,483.4 | −0.502% | $163K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,482.9 | −0.531% | $453K | $500K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,486 | −0.321% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,484.6 | −0.420% | $253K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,483.6 | −0.484% | $2.6M | $19.6M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,484.4 | −0.429% | $4.0M | $5.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,483.9 | −0.466% | $61K | $43K | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,483.2 | −0.511% | $11K | $864K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,483.5 | −0.494% | $2.7M | $7.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,483.8 | −0.471% | $45K | $149K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0112% | 1h | 1,482.9 | −0.530% | $8K | $7K | 5x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0121% / S −0.0107% | 1h | 1,483.9 | −0.465% | $430K | — | 100x | as long as short |
| Hyperliquid ZEC | +0.0129% | 1h | 1,484.4 | −0.431% | $771.1M | $440.3M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0129% | 1h | 1,483.6 | −0.483% | $928K | $1.2M | 10x | as long as short |
| Phoenix ZEClong | +0.0134% | 1h | 1,490.8 | long leg | $4.7M | $1.4M | 10x | |
| Aftermath Perps ZECUSD | +0.0219% | 1h | 1,486.9 | −0.262% | $48K | $63K | 10x | as long as short |
| Arcus ZEC-USD | +0.0221% | 1h | 1,485.6 | −0.353% | $624K | $8.6M | 10x | as long as short |
| Lighter RH ZEC | +0.0296% | 1h | 1,485.1 | −0.385% | $2.1M | $7.3M | 10x | as long as short |
| Lighter ZEC | +0.0336% | 1h | 1,485.1 | −0.387% | $19.4M | $45.5M | 20x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0480% | 1h | 1,484.8 | −0.404% | $3.6M | $9.9M | 50x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Popdex ZECUSDT
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Paradex ZEC-USD-PERP
Katana Perps ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
GMX ZEC/USD [WBTC.b-USDC]
Hyperliquid ZEC
RISEx ZEC/USDC
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC
Lighter ZEC
Coinbase International ZEC-PERP-INTX