Funding you earn now, next payment 06:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.001%
Price spread now: SunX against Phoenix−0.168%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$158as in the Funding arb table
Net, price: spread back to 7d avg − costs−$149as in the Price arb table
costs, in and out, $10k−$1311.306% of the position
Funding, last 7 days−0.274%−$27 on $10k
+Price spread, last 4 days (all we have)+0.428%+$43 · spread now −0.168%, 7d avg +0.019%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.187% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.019%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,496.6 | 0.0134 | pay 0.0017% / 1h | 0m 28s | $4.8M | $1.4M | 10x |
| Short | SunX ZEC-USDT | 1,494.1 | 0.0100 | get 0.0100% / 8h | 1h 00m | $3K | $1.2M | 20x |
Phoenix ZEC
SunX ZEC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$7.06
- Price spread: −0.168% → +0.019%
- −$18.7
- Slippage, 4 orders
- −$115.65
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$156.41
- Costs to cover
- 1.306%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 3 min ago; SunX: 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 | 1.61 bp | 6.3 bp −$6 | 14.1 bp −$141 | 92.4 bp −$9,237 | doesn't fit |
| Sell SunX live order book, 3 min ago | 29.04 bp | 68.2 bp −$68 | 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 PERP | −0.3684% | 1h | 1,481 | −1.043% | $36K | $275K | 12x | as long as short |
| Perpl ZEC | −0.0447% | 43m | 1,490.5 | −0.405% | $61K | $304K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0144% | 8h | 1,491.1 | −0.367% | $30.8M | $75.0M | 75x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0096% | 1h | 1,491.5 | −0.340% | $18.1M | $46.6M | 25x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,493.1 | −0.237% | $6K | $1K | 10x | as long as short |
| Aftermath Perps ZECUSD | −0.0020% | 1h | 1,493.6 | −0.200% | $48K | $64K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,490.1 | −0.436% | $414K | $35K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,493.1 | −0.233% | $1.5M | $4.7M | 2.2x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,492 | −0.305% | $5.3M | — | 150x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0046% | 1h | 1,492.2 | −0.291% | $681K | $1.4M | 25x | as long as short |
Injective ZEC/USDC PERP
Perpl ZEC
BloFin ZEC-USDT
Kraken Futures PF_ZECUSD
Hotstuff ZEC-PERP
Aftermath Perps ZECUSD
dYdX ZEC-USD
Kalshi KXZECPERP
gTrade (Gains Network) ZEC/USD
Deribit ZEC_USDC-PERPETUALShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ZEC_USDC | +0.0081% | 8h | 1,491.4 | −0.345% | $300K | $1.1M | 20x | as long as short |
| Bulk ZEC-USD | +0.0085% | 1h | 1,492.9 | −0.245% | $902K | $7K | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,490.9 | −0.379% | $170K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0098% | 8h | 1,490.9 | −0.384% | $12K | $876K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,491.7 | −0.326% | $61K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,491.9 | −0.312% | $3.1M | $7.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,491.5 | −0.340% | $778.7M | $447.7M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,490.3 | −0.422% | $13.9M | $31.1M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,491.1 | −0.364% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,491 | −0.376% | $694.9M | $2.32B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,490.3 | −0.418% | $267.0M | $630.3M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,491.1 | −0.369% | $181.4M | $1.34B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,494.1 | −0.166% | $407K | $554K | 5x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,491.2 | −0.361% | $55.0M | $187.9M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,490.8 | −0.390% | $241.9M | $801.3M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,490.7 | −0.392% | $102.6M | $57.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,491.2 | −0.361% | $160.4M | $289.6M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,491.3 | −0.354% | — | $118.0M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,489.9 | −0.447% | $48.8M | $34.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,494.8 | −0.122% | $572K | $9.0M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,493.7 | −0.192% | $3.1M | $510K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,495.6 | −0.068% | $412K | $943K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,493.5 | −0.207% | $56K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,490.7 | −0.394% | $357K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,491 | −0.375% | $164K | $184K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,493.1 | −0.235% | $456K | $500K | 6.7x | as long as short |
| SunX ZEC-USDTshort | +0.0100% | 8h | 1,494.1 | −0.168% | $3K | $1.2M | 20x | |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,491.1 | −0.366% | $254K | $3.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,491.8 | −0.321% | $2.7M | $20.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,491.3 | −0.356% | $4.0M | $5.0M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,491.3 | −0.355% | $2.7M | $7.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,491.6 | −0.336% | $43K | $151K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0112% | 1h | 1,491.6 | −0.334% | $8K | $7K | 5x | as long as short |
| RISEx ZEC/USDC | +0.0129% | 1h | 1,491.5 | −0.342% | $939K | $1.1M | 10x | as long as short |
| Phoenix ZEClong | +0.0134% | 1h | 1,496.6 | long leg | $4.8M | $1.4M | 10x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0138% / S −0.0134% | 1h | 1,491.9 | −0.316% | $392K | — | 100x | as long as short |
| Lighter RH ZEC | +0.0176% | 1h | 1,491.9 | −0.314% | $2.1M | $7.5M | 10x | as long as short |
| Arcus ZEC-USD | +0.0221% | 1h | 1,492.4 | −0.283% | $621K | $8.8M | 10x | as long as short |
| Lighter ZEC | +0.0240% | 1h | 1,492.1 | −0.299% | $19.6M | $47.1M | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0262% | 1h | 1,491.4 | −0.347% | $2.3M | $3.9M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0480% | 1h | 1,492.8 | −0.254% | $3.7M | $10.1M | 50x | as long as short |
Orderly PERP_ZEC_USDC
Bulk ZEC-USD
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
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
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
RISEx ZEC/USDC
GMX ZEC/USD [WBTC.b-USDC]
Lighter RH ZEC
Arcus ZEC-USD
Lighter ZEC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX