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: Phoenix against SoDEX−0.008%7-day average +0.083% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on SoDEX Short on Phoenix

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)−0.443%−$44 · spread now −0.008%, 7d avg +0.083%

Together, before fees−0.262%−$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.091% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.083%). If the spread goes back, that is −$9 on $10k: about 9.0 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.181% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ZEC-USD	1,488.1	0.0100	pay 0.0013% / 1h	20m 30s	$253K	$3.5M	10x
Short	Phoenix ZEC	1,487.9	0.0134	get 0.0017% / 1h	20m 30s	$4.7M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now −0.008%Rate

Funding earned: $7.06
Price spread: −0.008% → +0.083%: −$9.07
Slippage, 4 orders: −$8.15
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$25.16
Costs to cover: 0.231%
Break-even: 31.9 days

Slippage from SoDEX: live order book, 4 min ago; Phoenix: 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 SoDEX live order book, 4 min ago	0.24 bp	4.5 bp −$5	13.2 bp −$132	97.8 bp −$9,782	doesn't fit
Sell Phoenix live order book, 3 min ago	1.88 bp	6.7 bp −$7	15.7 bp −$157	128.0 bp −$12.8K	doesn't fit

ZEC on 50 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	−1.758%	$36K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0147%	8h	1,488.2	+0.009%	$30.5M	$74.5M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,488.3	+0.019%	$18.0M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,487.2	−0.060%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−0.061%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,488.2	+0.010%	$414K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,487.8	−0.019%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,488	−0.006%	$62K	$304K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,487.2	−0.058%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0069%	1h	1,483.9	−0.277%	$47K	$64K	10x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0078%	8h	1,487.9	−0.013%	$300K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,489.4	+0.090%	$168K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,488.8	+0.047%	$12K	$876K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,489.7	+0.112%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,488.9	+0.058%	$13.9M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,489.7	+0.110%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,489.6	+0.104%	$694.1M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,488.9	+0.054%	$266.2M	$633.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,489.4	+0.088%	$180.2M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,484.2	−0.259%	$406K	$512K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,489.4	+0.093%	$54.7M	$184.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,489.4	+0.093%	$244.4M	$788.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,489.4	+0.087%	$102.2M	$57.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,489.5	+0.097%	$160.5M	$289.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,488.6	+0.035%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,485.5	−0.170%	$48.4M	$34.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,485.6	−0.167%	$570K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,487.2	−0.057%	$3.0M	$511K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,486.6	−0.101%	$409K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,487.4	−0.048%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,489.4	+0.090%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,489.6	+0.101%	$164K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,490	+0.133%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDlong	+0.0100%	1h	1,488.1	long leg	$253K	$3.5M	10x
HTX ZEC-USDT	+0.0100%	8h	1,487.1	−0.064%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,488.5	+0.027%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,489.7	+0.113%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,489.3	+0.087%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,488.2	+0.008%	$43K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,489.9	+0.126%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,489.6	+0.102%	$932K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0132%	1h	1,489.3	+0.084%	$2.3M	$3.9M	15x	as long as short
Phoenix ZECshort	+0.0134%	1h	1,487.9	−0.008%	$4.7M	$1.4M	10x
Deribit ZEC_USDC-PERPETUAL	+0.0143%	1h	1,488.6	+0.035%	$680K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0149% / S −0.0162%	1h	1,488.4	+0.020%	$482K	—	100x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,490.7	+0.178%	$632K	$8.7M	10x	as long as short
Hyperliquid ZEC	+0.0228%	1h	1,490.5	+0.164%	$774.5M	$442.4M	10x	as long as short
Lighter RH ZEC	+0.0240%	1h	1,491.2	+0.213%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,490.7	+0.176%	$19.7M	$46.0M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,489.4	+0.091%	$3.7M	$10.0M	50x	as long as short