Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Phemex against Bitget−0.047%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)+0.747%+$75 · spread now −0.047%, 7d avg +0.035%

Together, before fees+0.933%+$93 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.083% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZECUSDT	1,501.5	0.0100	pay 0.0100% / 8h	6h 18m	$163.8M	$285.4M	75x
Short	Phemex ZECUSDT	1,500.8	0.0100	get 0.0100% / 8h	6h 18m	$4.0M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → +0.035%: −$8.26
Slippage, 4 orders: −$28.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.84
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Phemex: 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 Bitget live order book, 3 min ago	0.03 bp	8.5 bp −$8	11.8 bp −$118	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	6.59 bp	21.2 bp −$21	34.1 bp −$341	doesn't fit	doesn't fit

ZEC on 50 exchanges

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	−0.3772%	1h	1,480	−1.435%	$36K	$274K	12x	as long as short
BloFin ZEC-USDT	−0.0186%	8h	1,501.3	−0.018%	$31.5M	$75.0M	75x	as long as short
Aftermath Perps ZECUSD	−0.0119%	1h	1,501.2	−0.023%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,500.8	−0.051%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0052%	1h	1,498.6	−0.194%	$408K	$507K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,501.3	−0.015%	$8K	$6K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,501.7	+0.011%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,500.2	−0.089%	$62K	$298K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501	−0.037%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0009%	1h	1,501.1	−0.026%	$18.4M	$47.0M	25x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ZEC-USD	+0.0010%	1h	1,499.9	−0.107%	$413K	$34K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0075%	8h	1,500.1	−0.095%	$303K	$857K	20x	as long as short
RISEx ZEC/USDC	+0.0077%	1h	1,500.5	−0.069%	$922K	$1.3M	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,502.2	+0.045%	$19.7M	$41.2M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,502.6	+0.071%	$2.1M	$7.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,501.1	−0.029%	$173K	$1.6M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,500.9	−0.042%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,501.2	−0.020%	$19K	$879K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,501.4	−0.007%	$3.1M	$7.2M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,501.8	+0.019%	$787.3M	$430.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,501.2	−0.022%	$14.1M	$27.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501.5	+0.001%	$1.7M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,501.5	−0.001%	$707.7M	$2.24B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,501.2	−0.023%	$275.6M	$595.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,501.6	+0.007%	$185.1M	$1.32B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,502.1	+0.036%	$597K	$8.6M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.1	−0.497%	$775K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,501.5	−0.002%	$61.8M	$184.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,501.6	+0.004%	$175.4M	$849.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,501.4	−0.009%	$105.0M	$54.5M	75x	as long as short
Bitget ZECUSDTlong	+0.0100%	8h	1,501.5	long leg	$163.8M	$285.4M	75x
BingX ZEC-USDT	+0.0100%	8h	1,501.2	−0.021%	—	$123.1M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,501.9	+0.027%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.2	−0.018%	$49.5M	$34.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,501.8	+0.017%	$549K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,501.7	+0.015%	$3.1M	$566K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,501.8	+0.018%	$410K	$958K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,500.5	−0.069%	$112K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,501	−0.035%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,501.1	−0.028%	$167K	$187K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,503.3	+0.115%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,500.7	−0.055%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,501.4	−0.009%	$2.6M	$20.6M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,500.8	−0.047%	$4.0M	$4.8M	50x
Extended ZEC-USD	+0.0104%	1h	1,501.4	−0.009%	$2.7M	$7.4M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,500.5	−0.067%	$37K	$163K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0120%	1h	1,501.4	−0.011%	$687K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0139%	1h	1,502.9	+0.094%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0163%	1h	1,501.1	−0.029%	$372K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0336%	1h	1,502	+0.035%	$3.9M	$9.7M	50x	as long as short