ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h +0.097%

Price spread now: Phoenix against ApeX Omni−0.036%7-day average +0.265% · you buy dearer than you sell

Net, funding: paid 7d − costs+$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+1.495%+$149 on $10k

Price spread, last 7 days+0.283%+$28 · spread now −0.036%, 7d avg +0.265%

Together, before fees+1.778%+$178 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.300% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.265%). If the spread goes back, that is −$30 on $10k: about 2 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+1.495% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZECUSDT	1,457.4	0.0100	pay 0.0013% / 1h	26m 40s	$403K	$944K	50x
Short	Phoenix ZEC	1,456.9	0.0116	get 0.0015% / 1h	26m 40s	$4.6M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now −0.036%Rate

Funding earned: $3.39
Price spread: −0.036% → +0.265%: −$30.04
Slippage, 4 orders: −$12.97
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$56.62
Costs to cover: 0.300%
Break-even: 123.8 days

Slippage from ApeX Omni: live order book, 27 min ago; Phoenix: live order book, 2 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 ApeX Omni live order book, 27 min ago	2.61 bp	8.4 bp −$8	30.0 bp −$300	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	1.65 bp	6.3 bp −$6	14.2 bp −$142	51.6 bp −$5,162	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	−0.3042%	1h	1,457.6	+0.016%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.7	−0.045%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,456.5	−0.061%	$29.4M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	−0.073%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,456.3	−0.078%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.3	−0.073%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,456.1	−0.089%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0084% / S −0.0034%	1h	1,456.4	−0.071%	$434K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.7	−0.046%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.8	−0.040%	$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	1,456.6	−0.056%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.7	−0.048%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.4	−0.065%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.9	−0.032%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.5	−0.058%	$670.3M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456	−0.096%	$260.9M	$599.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.5	−0.064%	$178.7M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.116%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.242%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.3	−0.073%	$51.3M	$171.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.5	−0.060%	$218.5M	$770.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.5	−0.061%	$102.8M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.8	−0.038%	$165.7M	$269.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,456.1	−0.090%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457	−0.026%	$47.8M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.1	−0.089%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	−0.061%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDTlong	+0.0100%	1h	1,457.4	long leg	$403K	$944K	50x
StandX ZEC-USD	+0.0100%	1h	1,456.2	−0.082%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.5	−0.061%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.4	−0.071%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455	−0.165%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459	+0.109%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.3	−0.075%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456	−0.098%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.7	−0.051%	$3.8M	$4.9M	50x	as long as short
Lighter RH ZEC	+0.0104%	1h	1,458	+0.040%	$2.1M	$7.0M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.6	−0.057%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.1	−0.086%	$47K	$151K	20x	as long as short
Phoenix ZECshort	+0.0116%	1h	1,456.9	−0.036%	$4.6M	$1.3M	10x
01 Exchange ZECUSD	+0.0120%	1h	1,457.4	−0.001%	$8K	$7K	5x	as long as short
Kalshi KXZECPERP	+0.0142%	8h	1,457.1	−0.022%	$1.5M	$4.4M	2.2x	as long as short
Hyperliquid ZEC	+0.0149%	1h	1,458	+0.040%	$759.0M	$426.0M	10x	as long as short
Lighter ZEC	+0.0152%	1h	1,458	+0.044%	$19.2M	$45.0M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0167%	1h	1,457	−0.030%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.6	−0.055%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0273%	1h	1,456.8	−0.038%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,456	−0.095%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458.3	+0.063%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,459	+0.110%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0673%	1h	1,456.1	−0.085%	$45K	$49K	10x	as long as short