ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h +0.019%

Price spread now: Phoenix against Bullet+0.396%7-day average +0.098% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$1as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Bullet Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.168%+$17 on $10k

Price spread, last 4 days (all we have)−0.491%−$49 · spread now +0.396%, 7d avg +0.098%

Together, before fees−0.323%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.298% dearer against Bullet than usual: you sell high and buy low (spread +0.396% now, against its 7-day average of +0.098%): +$30 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 33 days. Mind the row above: over the last 3 days funding on this pair paid +0.168%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,463.8	0.0100	pay 0.0013% / 1h	57m 05s	$127K	$160K	20x
Short	Phoenix ZEC	1,469.6	0.0070	get 0.0009% / 1h	57m 05s	$4.6M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bullet. 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 BulletbpFee PhoenixbpOrdersPrice spread, now +0.396%Rate

Funding earned: −$6.26
Price spread: +0.396% → +0.098%: $29.76
Slippage, 4 orders: −$13.84
Fee Bullet: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$5.34
Costs to cover: 0.288%
Break-even: from the start

Slippage from Bullet: live order book, 7 min ago; Phoenix: live order book, 7 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 Bullet live order book, 7 min ago	1.80 bp	6.8 bp −$7	11.1 bp −$111	doesn't fit	doesn't fit
Sell Phoenix live order book, 7 min ago	2.24 bp	7.4 bp −$7	16.5 bp −$165	57.7 bp −$5,765	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	−0.3244%	1h	1,469.5	+0.390%	$34K	$272K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0175%	1h	1,466.9	+0.210%	$398K	$441K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.442%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,466.6	+0.189%	$413K	$47K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,466.2	+0.160%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,465.3	+0.102%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.8	−0.004%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0033%	8h	1,463.6	−0.015%	$292K	$984K	20x	as long as short
Popdex ZECUSDT	+0.0040%	1h	1,466.3	+0.169%	$173K	$1.8M	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,466.8	+0.204%	$8K	$8K	5x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,464	+0.011%	$383K	—	100x	as long as short
Phoenix ZECshort	+0.0070%	1h	1,469.6	+0.396%	$4.6M	$1.4M	10x
Deribit ZEC_USDC-PERPETUAL	+0.0078%	1h	1,464.6	+0.052%	$609K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0079%	8h	1,468.1	+0.293%	$48.0M	$32.4M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0095%	8h	1,465.6	+0.121%	$180.5M	$1.24B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,466.2	+0.162%	$16K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.1	+0.221%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.5	+0.047%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,465.3	+0.101%	$763.3M	$435.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.7	+0.057%	$14.7M	$28.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.7	+0.195%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465.6	+0.119%	$677.4M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,465.5	+0.117%	$271.8M	$604.5M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	+0.188%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,464.3	+0.031%	$50.0M	$169.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,464.1	+0.018%	$216.0M	$768.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,463.7	−0.007%	$102.9M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,465.8	+0.134%	$162.9M	$275.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,464.1	+0.019%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468	+0.288%	$571K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.2	+0.365%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.2	+0.364%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.9	+0.280%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465.4	+0.108%	$342K	$1.7M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,463.8	long leg	$127K	$160K	20x
Derive ZEC-PERP	+0.0100%	1h	1,462.3	−0.102%	$446K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,468.8	+0.341%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,464.1	+0.020%	$241K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,464.1	+0.018%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.5	+0.046%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.5	+0.114%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.8	−0.004%	$48K	$155K	20x	as long as short
Lighter ZEC	+0.0136%	1h	1,465.7	+0.131%	$19.2M	$45.8M	20x	as long as short
Lighter RH ZEC	+0.0144%	1h	1,466.2	+0.164%	$2.1M	$6.8M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0195%	1h	1,464.1	+0.021%	$18.0M	$43.7M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0252%	1h	1,464.9	+0.072%	$2.4M	$3.8M	15x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,468.5	+0.318%	$695K	$8.5M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,467.3	+0.240%	$852K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,465.9	+0.145%	$3.7M	$8.9M	50x	as long as short
Aftermath Perps ZECUSD	+0.0734%	1h	1,468.6	+0.325%	$43K	$46K	10x	as long as short