Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.029%
Price spread now: Phoenix against dYdX−0.401%7-day average +0.102% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$124as in the Price arb table
costs, in and out, $10k−$730.735% of the position
Funding, last 7 days+0.339%+$34 on $10k
+Price spread, last 4 days (all we have)+0.639%+$64 · spread now −0.401%, 7d avg +0.102%
=Funding pays, the price is against you. Phoenix is 0.504% cheaper against dYdX than usual: you would sell low and buy high (spread −0.401% now, against its 7-day average of +0.102%). If the spread goes back, that is −$50 on $10k: about 18 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX ZEC-USD | 1,502 | 0 | get 0.0000% / 1h | 18m 59s | $417K | $34K | 5x |
| Short | Phoenix ZEC | 1,496 | 0.0096 | get 0.0012% / 1h | 18m 59s | $4.8M | $1.4M | 10x |
dYdX ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.07
- Price spread: −0.401% → +0.102%
- −$50.37
- Slippage, 4 orders
- −$56.47
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$103.77
- Costs to cover
- 0.735%
- Break-even
- 43.2 days
Slippage from dYdX: live order book, 20 min ago; Phoenix: live order book, 5 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 dYdX live order book, 20 min ago | 23.10 bp | 30.6 bp −$31 | 52.9 bp −$529 | 96.6 bp −$9,661 | 623.7 bp −$311.9K |
| Sell Phoenix live order book, 5 min ago | 2.28 bp | 7.4 bp −$7 | 17.7 bp −$177 | 60.3 bp −$6,029 | 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 | −0.3442% | 1h | 1,479.6 | −1.495% | $36K | $275K | 12x | as long as short |
| Perpl ZEC | −0.0447% | 43m | 1,500.7 | −0.090% | $61K | $303K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0148% | 8h | 1,504.3 | +0.148% | $31.3M | $76.0M | 75x | as long as short |
| Bulk ZEC-USD | −0.0108% | 1h | 1,495.7 | −0.421% | $810K | $100K | 10x | as long as short |
| Aftermath Perps ZECUSD | −0.0106% | 1h | 1,495.9 | −0.408% | $48K | $58K | 10x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,496.8 | −0.351% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USDlong | 0.0000% | 1h | 1,502 | long leg | $417K | $34K | 5x | |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,499.2 | −0.190% | $1.5M | $4.4M | 2.2x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,503 | +0.064% | $5.4M | — | 150x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0012% | 1h | 1,504.9 | +0.189% | $18.1M | $47.1M | 25x | as long as short |
Injective ZEC/USDC PERP
Perpl ZEC
BloFin ZEC-USDT
Bulk ZEC-USD
Aftermath Perps ZECUSD
Hotstuff ZEC-PERP
Kalshi KXZECPERP
gTrade (Gains Network) ZEC/USD
Kraken Futures PF_ZECUSDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps ZEC-USD.P | +0.0043% | 1h | 1,493.6 | −0.562% | $408K | $554K | 5x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0084% | 8h | 1,503.6 | +0.105% | $303K | $864K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0088% | 1h | 1,502.8 | +0.049% | $8K | $6K | 5x | as long as short |
| Phoenix ZECshort | +0.0096% | 1h | 1,496 | −0.401% | $4.8M | $1.4M | 10x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,502.5 | +0.030% | $183K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0098% | 8h | 1,502.6 | +0.039% | $12K | $891K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,502.6 | +0.040% | $62K | $20K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,501.9 | −0.009% | $3.1M | $7.6M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,504.6 | +0.170% | $786.0M | $439.3M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,503 | +0.063% | $14.0M | $30.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,502.3 | +0.017% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,503.5 | +0.095% | $703.4M | $2.30B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,503.3 | +0.081% | $270.2M | $618.0M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,503.9 | +0.124% | $183.3M | $1.34B | 50x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,503.1 | +0.071% | $56.8M | $185.5M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,503.6 | +0.101% | $243.2M | $803.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,503.4 | +0.088% | $103.2M | $56.4M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,503 | +0.064% | $162.5M | $289.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,503.1 | +0.069% | — | $117.5M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,495.2 | −0.456% | $48.9M | $34.4M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,493.9 | −0.541% | $572K | $9.0M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,496.3 | −0.382% | $3.1M | $510K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,494.6 | −0.496% | $411K | $946K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,496 | −0.403% | $56K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,502.3 | +0.017% | $360K | $1.6M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,502.8 | +0.054% | $165K | $184K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,502.8 | +0.049% | $459K | $469K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,506.5 | +0.299% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,504.2 | +0.145% | $254K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,503.6 | +0.102% | $2.7M | $20.7M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,504.2 | +0.143% | $4.0M | $4.9M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,503.1 | +0.068% | $2.8M | $7.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,504 | +0.134% | $43K | $151K | 20x | as long as short |
| Lighter RH ZEC | +0.0120% | 1h | 1,505.5 | +0.229% | $2.1M | $7.4M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0128% | 1h | 1,503 | +0.062% | $946K | $1.1M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0145% / S −0.0143% | 1h | 1,504.5 | +0.162% | $334K | — | 100x | as long as short |
| Lighter ZEC | +0.0216% | 1h | 1,505.8 | +0.248% | $19.9M | $45.7M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0226% | 1h | 1,504.9 | +0.189% | $687K | $1.4M | 25x | as long as short |
| Arcus ZEC-USD | +0.0403% | 1h | 1,503.3 | +0.087% | $609K | $8.8M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0416% | 1h | 1,504.8 | +0.186% | $3.7M | $9.9M | 50x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0538% | 1h | 1,504.7 | +0.180% | $2.3M | $3.8M | 15x | as long as short |
Ondo Perps ZEC-USD.P
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Lighter RH ZEC
RISEx ZEC/USDC
GMX ZEC/USD [WBTC.b-USDC]
Lighter ZEC
Deribit ZEC_USDC-PERPETUAL
Arcus ZEC-USD
Coinbase International ZEC-PERP-INTX
Backpack ZEC_USDC_PERP