ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h −0.012%

Price spread now: SoDEX against Phoenix+0.377%7-day average −0.083% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$23as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.181%−$18 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.377%, 7d avg −0.083%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.460% dearer against Phoenix than usual: you sell high and buy low (spread +0.377% now, against its 7-day average of −0.083%): +$46 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 46 days. At the pace of the last 3 days (−0.181% in total) that is about 8.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ZEC	1,481.2	0.0134	pay 0.0017% / 1h	22m 56s	$4.7M	$1.4M	10x
Short	SoDEX ZEC-USD	1,486.8	0.0100	get 0.0013% / 1h	22m 56s	$253K	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.377%Rate

Funding earned: −$7.06
Price spread: +0.377% → −0.083%: $46
Slippage, 4 orders: −$7.65
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $16.3
Costs to cover: 0.226%
Break-even: from the start

Slippage from Phoenix: live order book, 6 min ago; SoDEX: 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, 6 min ago	1.69 bp	6.5 bp −$6	14.7 bp −$147	124.4 bp −$12.4K	doesn't fit
Sell SoDEX live order book, 1 min ago	0.24 bp	5.2 bp −$5	17.2 bp −$172	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 PERP	−0.3684%	1h	1,461.9	−1.302%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0166%	1h	1,477.1	−0.276%	$892K	$9K	10x	as long as short
BloFin ZEC-USDT	−0.0144%	8h	1,486.7	+0.375%	$30.5M	$74.4M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,487.1	+0.397%	$18.0M	$46.7M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,485.3	+0.275%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,485.4	+0.284%	$413K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,486.5	+0.358%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,484.6	+0.233%	$62K	$304K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,486.4	+0.348%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0072%	1h	1,480.7	−0.036%	$47K	$64K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0077%	8h	1,486.7	+0.373%	$299K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,486	+0.323%	$168K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,485.6	+0.299%	$11K	$876K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,485.5	+0.289%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,486.8	+0.376%	$13.9M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,485.9	+0.317%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,487.3	+0.413%	$692.8M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,486.6	+0.368%	$265.9M	$633.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,486.8	+0.378%	$179.9M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,482.2	+0.068%	$403K	$511K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,487.4	+0.421%	$54.5M	$184.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,487.3	+0.412%	$246.2M	$787.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,486.6	+0.368%	$101.8M	$57.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,487.2	+0.405%	$160.2M	$289.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,486.4	+0.354%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,480.4	−0.052%	$48.2M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,476.5	−0.319%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477	−0.285%	$3.0M	$511K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.4	−0.327%	$406K	$936K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,484.5	+0.224%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,486	+0.325%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,486.4	+0.352%	$163K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.526%	$450K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,489.2	+0.539%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDshort	+0.0100%	1h	1,486.8	+0.377%	$253K	$3.5M	10x
HTX ZEC-USDT	+0.0100%	8h	1,486.1	+0.328%	$2.6M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,487.2	+0.402%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,485.6	+0.301%	$61K	$43K	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0104%	1h	1,487.6	+0.435%	$2.3M	$3.9M	15x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,487.5	+0.424%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,486.6	+0.367%	$43K	$152K	20x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,485.2	+0.274%	$929K	$1.1M	10x	as long as short
Phoenix ZEClong	+0.0134%	1h	1,481.2	long leg	$4.7M	$1.4M	10x
01 Exchange ZECUSD	+0.0136%	1h	1,485.4	+0.285%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0148% / S −0.0159%	1h	1,486.5	+0.360%	$481K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0181%	1h	1,487.3	+0.413%	$679K	$1.4M	25x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,486.7	+0.372%	$636K	$8.7M	10x	as long as short
Hyperliquid ZEC	+0.0241%	1h	1,488.3	+0.480%	$772.9M	$441.8M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,488.3	+0.478%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0312%	1h	1,488.4	+0.486%	$19.6M	$46.0M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,487	+0.392%	$3.6M	$10.0M	50x	as long as short