Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.008%

Price spread now: Phemex against Extended−0.209%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$490.492% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)+0.514%+$51 · spread now −0.209%, 7d avg +0.035%

Together, before fees+0.426%+ Points / potential airdropExtended: Active · farm board+$43 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 0.244% cheaper against Extended than usual: you would sell low and buy high, −$24 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	Extended ZEC-USD	1,476.3	0.0104	pay 0.0013% / 1h	29m 59s	$2.8M	$7.8M	10x
Short	Phemex ZECUSDT	1,473.2	0.0100	get 0.0100% / 8h	2h 29m	$3.9M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.209%Rate

Funding earned: −$0.84
Price spread: −0.209% → +0.035%: −$24.38
Slippage, 4 orders: −$32.21
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$74.44
Costs to cover: 0.492%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Phemex: live order book, 4 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 Extended live order book, 4 min ago	1.25 bp	4.0 bp −$4	9.4 bp −$94	68.8 bp −$6,875	doesn't fit
Sell Phemex live order book, 4 min ago	5.92 bp	18.7 bp −$19	37.8 bp −$378	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	−0.3243%	1h	1,473.3	−0.201%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.4	−0.394%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0079%	8h	1,472.6	−0.245%	$29.9M	$71.2M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.8	−0.163%	$410K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,473.8	−0.169%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473	−0.220%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.9	−0.227%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,472.9	−0.226%	$294K	$896K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,473	−0.218%	$8K	$7K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0088%	1h	1,473.4	−0.192%	$620K	$1.3M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDT	+0.0090%	8h	1,475.8	−0.028%	$262.4M	$589.1M	75x	as long as short
Phoenix ZEC	+0.0092%	1h	1,470.9	−0.362%	$4.7M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.6	−0.248%	$174K	$1.6M	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0098% / S −0.0052%	1h	1,472.6	−0.248%	$439K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,472.1	−0.283%	$13K	$812K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.3	−0.200%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.4	−0.196%	$2.9M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477.2	+0.064%	$769.0M	$419.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.2	0.000%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.3	−0.201%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.3	+0.006%	$682.0M	$2.16B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,475.8	−0.032%	$179.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,466.9	−0.633%	$399K	$430K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.4	−0.260%	$889K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.1	−0.012%	$53.6M	$171.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476	−0.014%	$223.8M	$763.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.6	+0.024%	$103.8M	$52.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.5	+0.017%	$167.2M	$267.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,475.6	−0.043%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,471.5	−0.324%	$48.3M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469	−0.490%	$555K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,472.2	−0.272%	$3.0M	$455K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470.8	−0.370%	$407K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.7	−0.306%	$49K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.2	−0.274%	$361K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.8	−0.236%	$162K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471.8	−0.299%	$449K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475.2	−0.069%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,473	−0.224%	$236K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.6	−0.318%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,473.2	−0.209%	$3.9M	$4.8M	50x
Extended ZEC-USDlong	+0.0104%	1h	1,476.3	long leg	$2.8M	$7.8M	10x
Aevo ZEC-PERP	+0.0104%	1h	1,472.9	−0.227%	$46K	$152K	20x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,474.4	−0.124%	$2.1M	$7.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0146%	1h	1,472.7	−0.244%	$18.0M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,473.1	−0.213%	$930K	$1.1M	10x	as long as short
Lighter ZEC	+0.0192%	1h	1,474.8	−0.101%	$19.5M	$44.0M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0378%	1h	1,475	−0.086%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,475.5	−0.054%	$3.8M	$9.2M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,474.2	−0.139%	$663K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0695%	1h	1,470.6	−0.384%	$45K	$49K	10x	as long as short