Funding you earn now, next payment 23:00 UTC−0.3113%/8h= −340.8% APRnext payment −$3.89 per $10,000 · paid last 24h −0.487%
Price spread now: Injective against Phoenix+0.147%7-day average −0.005% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.678%−$268 on $10k
+Price spread, last 3 days (all we have)−0.142%−$14 · spread now +0.147%, 7d avg −0.005%
=The price spread pays, funding is against you. Injective is 0.152% dearer against Phoenix than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of −0.005%): +$15 on $10k if it goes back. Holding the pair costs −$93 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−2.678% in total) that is about 10 hours.
| 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 | 24m 06s | $4.6M | $1.6M | 10x |
| Short | Injective ZEC/USDC PERP | 1,472.9 | −0.3089 | pay 0.0386% / 1h | 24m 06s | $34K | $275K | 12x |
Phoenix ZEC
Injective ZEC/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$653.67
- Price spread: +0.147% → −0.005%
- $15.16
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$645.53
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 5 min ago; Injective: live order book, 55 min ago. Net counts fees only.
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 | 1.50 bp | 6.1 bp −$6 | 13.4 bp −$134 | 112.0 bp −$11.2K | doesn't fit |
| Sell Injective live order book, 55 min ago | 64.22 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
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 PERPshort | −0.3089% | 1h | 1,472.9 | +0.147% | $34K | $275K | 12x | |
| Ondo Perps ZEC-USD.P | −0.0270% | 1h | 1,466.3 | −0.304% | $399K | $518K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0225% | 1h | 1,467.8 | −0.205% | $17.9M | $44.4M | 25x | as long as short |
| Bybit ZECUSDT | −0.0116% | 8h | 1,467.4 | −0.233% | $274.3M | $654.7M | 75x | as long as short |
| BloFin ZEC-USDT | −0.0102% | 8h | 1,470.8 | +0.003% | $29.7M | $75.1M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,467.3 | −0.235% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0060% | 8h | 1,471.8 | +0.067% | $46.8M | $33.9M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0006% | 1h | 1,470.3 | −0.035% | $431K | $842K | 50x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,467.6 | −0.218% | $413K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,469.7 | −0.073% | $956K | $5.6M | 2.2x | as long as short |
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
ApeX Omni ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,466.5 | −0.292% | $83K | $407K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,467.6 | −0.214% | $612K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,467.4 | −0.233% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0014% | 8h | 1,466.8 | −0.267% | $294K | $1.4M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,466.9 | −0.267% | $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 | +0.0039% | 8h | 1,467.7 | −0.208% | $180.4M | $1.34B | 50x | as long as short |
| Gate ZEC_USDT | +0.0043% | 8h | 1,467.5 | −0.224% | $50.5M | $186.9M | 75x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0054% / S −0.0010% | 1h | 1,467.1 | −0.248% | $371K | — | 100x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,469.1 | −0.115% | $19.1M | $52.5M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,466.9 | −0.263% | $175K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,466.1 | −0.321% | $13K | $834K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,467 | −0.259% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,467.7 | −0.209% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,468.6 | −0.148% | $761.3M | $472.2M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,467.6 | −0.218% | $14.9M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,468.3 | −0.168% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,467.6 | −0.214% | $682.7M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,468.7 | −0.144% | $701K | $8.4M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,469.8 | −0.069% | $894K | $39K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,467.8 | −0.205% | $231.3M | $839.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,467.6 | −0.219% | $103.3M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,467.8 | −0.203% | $162.7M | $301.3M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,467.5 | −0.220% | — | $102.4M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,470.6 | −0.012% | $513K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,473.2 | +0.162% | $3.0M | $454K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,471.9 | +0.076% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,466.9 | −0.263% | $342K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,466.8 | −0.273% | $127K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,465.4 | −0.363% | $457K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,469 | −0.121% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,467.4 | −0.230% | $237K | $4.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,466.6 | −0.285% | $2.5M | $22.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,468.1 | −0.184% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,467.3 | −0.235% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,466.5 | −0.289% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,467.5 | −0.222% | $823K | $1.2M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0411% | 1h | 1,468 | −0.188% | $2.4M | $3.8M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,469.4 | −0.095% | $3.8M | $10.6M | 50x | as long as short |
| Lighter RH ZEC | +0.0456% | 1h | 1,469.9 | −0.062% | $2.0M | $8.4M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0730% | 1h | 1,470.7 | −0.002% | $45K | $47K | 10x | as long as short |
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
GMX ZEC/USD [WBTC.b-USDC]
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD