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 −0.023%

Price spread now: Polymarket Perps against Phoenix+0.009%59s7-day average −0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as 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−$240.244% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.616%−$62 on $10k

Price spread, last 7 days−0.380%−$38 · spread now +0.009%, 7d avg −0.159%

Together, before fees−0.997%−$100 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 Polymarket Perps is 0.167% dearer against Phoenix than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.159%. Mind the row above: over the last 7 days funding on this pair cost −0.616%, so the current rate has only just turned in your favour. The two prices were read 59 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	22m 15s	$4.6M	$1.6M	10x
Short	Polymarket Perps ZEC-USD	1,470.9	0.0100	get 0.0013% / 1h	22m 15s	$337K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.009%Rate

Funding earned: $15.98
Price spread: +0.009% → −0.159%: $16.74
Slippage, 4 orders: −$9.43
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $8.29
Costs to cover: 0.244%
Break-even: 3.4 days

Slippage from Phoenix: live order book, 2 min ago; Polymarket Perps: 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 Phoenix live order book, 2 min ago	1.77 bp	6.5 bp −$7	14.9 bp −$149	125.9 bp −$12.6K	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	0.68 bp	6.7 bp −$7	10.3 bp −$103	32.1 bp −$3,210	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 PERP	−0.3089%	1h	1,468.5	−0.157%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0257%	1h	1,466.3	−0.304%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,471.1	+0.026%	$17.9M	$44.4M	25x	as long as short
Bybit ZECUSDT	−0.0116%	8h	1,470.8	+0.002%	$274.7M	$653.9M	75x	as long as short
BloFin ZEC-USDT	−0.0108%	8h	1,469.3	−0.100%	$29.7M	$75.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.2	−0.036%	$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	−0.0008%	1h	1,470.7	−0.005%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471.4	+0.043%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.1	+0.020%	$959K	$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	1,470.6	−0.010%	$84K	$407K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471.6	+0.054%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,471.2	+0.027%	$8K	$8K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,471.3	+0.038%	$295K	$1.4M	20x	as long as short
Phoenix ZEClong	+0.0024%	1h	1,470.8	long leg	$4.6M	$1.6M	10x
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,471.4	+0.043%	$180.8M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0047%	8h	1,471.1	+0.019%	$50.6M	$186.9M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,471.3	+0.038%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,473	+0.154%	$19.2M	$52.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.1	+0.020%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,469.6	−0.081%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.5	−0.018%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.9	+0.078%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.1	+0.090%	$762.9M	$472.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.2	+0.031%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.6	+0.054%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.4	+0.041%	$684.4M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472	+0.083%	$702K	$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	1,471.3	+0.038%	$232.3M	$840.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.6	+0.053%	$103.6M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.7	+0.063%	$163.3M	$301.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,470	−0.052%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469.4	−0.092%	$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	1,469	−0.118%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USDshort	+0.0100%	1h	1,470.9	+0.009%	$337K	$1.8M	10x
Bullet ZEC-USD	+0.0100%	1h	1,470.9	+0.006%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469.5	−0.087%	$458K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,473.1	+0.158%	$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	1,470.8	−0.001%	$2.5M	$22.8M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.8	+0.071%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471.7	+0.063%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.3	+0.035%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,471.7	+0.065%	$825K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0172%	1h	1,472.4	+0.108%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0414%	1h	1,472.6	+0.122%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.7	+0.199%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0464%	1h	1,473.7	+0.196%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0739%	1h	1,471.6	+0.053%	$46K	$47K	10x	as long as short