Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.036%

Price spread now: Phemex against Bybit+0.083%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+1.329%+$133 · spread now +0.083%, 7d avg +0.043%

Together, before fees+1.265%+$126 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 0.040% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZECUSDT	1,451.7	0.0100	pay 0.0100% / 8h	5h 07m	$262.3M	$605.6M	75x
Short	Phemex ZECUSDT	1,452.9	0.0100	get 0.0100% / 8h	5h 07m	$3.8M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → +0.043%: $3.97
Slippage, 4 orders: −$24.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.22
Costs to cover: 0.472%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Phemex: live order book, 6 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 Bybit live order book, 2 min ago	0.03 bp	6.0 bp −$6	8.8 bp −$88	16.4 bp −$1,640	doesn't fit
Sell Phemex live order book, 6 min ago	3.57 bp	19.2 bp −$19	doesn't fit	doesn't fit	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	−0.3244%	1h	1,455.6	+0.268%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,452.6	+0.061%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,453	+0.094%	$29.3M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	+0.056%	$409K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.3	+0.110%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,452.3	+0.046%	$83K	$241K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	+0.061%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0053%	8h	1,452.2	+0.039%	$291K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,452.3	+0.043%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,455	+0.228%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,452.4	+0.049%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.6	+0.064%	$12K	$868K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.9	+0.084%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.1	+0.028%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453	+0.092%	$755.0M	$433.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,451.7	−0.001%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,452.8	+0.076%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.4	+0.051%	$665.0M	$2.22B	75x	as long as short
Bybit ZECUSDTlong	+0.0100%	8h	1,451.7	long leg	$262.3M	$605.6M	75x
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.2	+0.039%	$177.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	+0.250%	$396K	$432K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.398%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.4	+0.049%	$50.0M	$175.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	+0.063%	$213.7M	$781.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.7	+0.070%	$101.8M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.4	+0.052%	$161.3M	$273.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.8	+0.008%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,456.4	+0.325%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.5	+0.129%	$566K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,453.8	+0.150%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,453.1	+0.095%	$409K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.3	+0.041%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.7	+0.002%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	+0.060%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.4	−0.021%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.323%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.4	+0.051%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	+0.114%	$2.7M	$18.1M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,452.9	+0.083%	$3.8M	$5.1M	50x
Backpack ZEC_USDC_PERP	+0.0104%	1h	1,453	+0.092%	$2.4M	$3.8M	15x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.4	+0.049%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.2	+0.035%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,453.2	+0.107%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,452.3	+0.042%	$18.0M	$44.7M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,453.9	+0.153%	$19.0M	$46.8M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,454.5	+0.192%	$720K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0311%	1h	1,453.1	+0.097%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,453.8	+0.146%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.4	+0.121%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,452.8	+0.079%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,456.6	+0.339%	$45K	$49K	10x	as long as short