Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0572%/8h= −62.6% APRpaid last 24h −0.145%

Price spread now: Phemex against Aftermath Perps+0.040%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.040% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps ZECUSD	1,455.8	0.0672	pay 0.0084% / 1h	27m 38s	$45K	$49K	10x
Short	Phemex ZECUSDT	1,456.4	0.0100	get 0.0100% / 8h	3h 27m	$3.8M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath Perps. 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$120.14
Price spread: +0.040% → 0.000%: $3.97
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$137.16
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Phemex: live order book, 6 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	2.79 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3042%	1h	1,457.6	+0.124%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.7	+0.063%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,456.1	+0.019%	$29.4M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	+0.034%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,455.4	−0.030%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.1	+0.019%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,455.8	0.000%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0083% / S −0.0034%	1h	1,456.1	+0.016%	$434K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.7	+0.062%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.8	+0.068%	$14K	$820K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.8	+0.064%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456	+0.016%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.6	+0.053%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457	+0.079%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.7	+0.062%	$670.2M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.2	+0.026%	$261.0M	$599.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.4	+0.040%	$178.8M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.008%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.134%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.5	+0.049%	$51.3M	$171.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.7	+0.062%	$218.6M	$769.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.1	+0.088%	$102.8M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.8	+0.066%	$165.7M	$270.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.7	+0.060%	—	$105.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457	+0.082%	$47.8M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.1	+0.019%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.047%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457.4	+0.108%	$403K	$944K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.5	+0.048%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.2	+0.026%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.1	+0.022%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.6	−0.082%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.2	+0.166%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456	+0.009%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.008%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,456.4	+0.040%	$3.8M	$4.9M	50x
Lighter RH ZEC	+0.0104%	1h	1,457.9	+0.140%	$2.1M	$7.0M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.4	+0.038%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.7	−0.008%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,455	−0.056%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,457.4	+0.106%	$8K	$7K	5x	as long as short
Kalshi KXZECPERP	+0.0142%	8h	1,456.7	+0.058%	$1.5M	$4.4M	2.2x	as long as short
Hyperliquid ZEC	+0.0147%	1h	1,458.2	+0.163%	$759.1M	$426.0M	10x	as long as short
Lighter ZEC	+0.0152%	1h	1,457.9	+0.140%	$19.2M	$45.0M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0160%	1h	1,456.8	+0.064%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.7	+0.060%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0218%	1h	1,456.4	+0.038%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,455.8	−0.002%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458.4	+0.179%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,459.7	+0.265%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSDlong	+0.0672%	1h	1,455.8	long leg	$45K	$49K	10x