Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.007%
Price spread now: Phoenix against Katana Perps−0.238%50s7-day average +0.131% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.191%+$19 on $10k
+Price spread, last 7 days+0.365%+$37 · spread now −0.238%, 7d avg +0.131%
=Funding pays, the price is against you. Phoenix is 0.369% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.238% now, against its 7-day average of +0.131%). If the spread goes back, that is −$37 on $10k: about 3 months of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.191% in total) that is about 7.5 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps ZEC-USD | 1,461 | 0.0100 | pay 0.0100% / 8h | 3h 19m | $14K | $810K | 10x |
| Short | Phoenix ZEC | 1,457.6 | 0.0116 | get 0.0015% / 1h | 19m 43s | $4.6M | $1.3M | 10x |
Katana Perps ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Katana Perps. 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
- $3.44
- Price spread: −0.238% → +0.131%
- −$36.89
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$44.25
- Costs to cover
- 0.108%
- Break-even
- 97.1 days
Slippage unknown: Katana Perps: no order-book sample; Phoenix: live order book, 4 min ago. Net counts fees only.
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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 4 min ago | 1.64 bp | 6.4 bp −$6 | 14.3 bp −$143 | 52.3 bp −$5,235 | doesn't fit |
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.3042% | 1h | 1,441.9 | −1.311% | $33K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,461 | −0.005% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0071% | 8h | 1,460 | −0.072% | $29.5M | $70.7M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,459.6 | −0.095% | $411K | $35K | 5x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,459.7 | −0.089% | $83K | $239K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,459.6 | −0.100% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0063% | 8h | 1,459.8 | −0.082% | $292K | $927K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0085% / S −0.0036% | 1h | 1,459.6 | −0.097% | $434K | — | 100x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,460.8 | −0.016% | $174K | $1.7M | 50x | as long as short |
| Katana Perps ZEC-USDlong | +0.0100% | 8h | 1,461 | long leg | $14K | $810K | 10x |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Popdex ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,459.6 | −0.094% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,461.4 | +0.025% | $2.8M | $6.5M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,460.2 | −0.059% | $14.5M | $27.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,460.1 | −0.063% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,459.8 | −0.084% | $671.6M | $2.18B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,459.1 | −0.133% | $261.2M | $589.9M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,459.2 | −0.127% | $179.0M | $1.20B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,456.9 | −0.283% | $396K | $434K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,457.9 | −0.215% | $881K | $17K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,460.4 | −0.044% | $51.8M | $172.1M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,459.7 | −0.093% | $219.2M | $771.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,460 | −0.069% | $103.0M | $53.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,460.6 | −0.029% | $165.9M | $268.3M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,460 | −0.069% | — | $107.0M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,459.8 | −0.086% | $47.8M | $32.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,457.5 | −0.242% | $567K | $8.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,456.6 | −0.306% | $3.0M | $463K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,457.2 | −0.265% | $402K | $943K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,460.5 | −0.035% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,460.3 | −0.050% | $355K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,459.5 | −0.105% | $161K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,458.8 | −0.151% | $445K | $504K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,463.1 | +0.143% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,459.9 | −0.080% | $234K | $3.2M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,459 | −0.137% | $2.7M | $18.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,460.5 | −0.036% | $3.8M | $4.9M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,460.1 | −0.063% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,459.4 | −0.113% | $47K | $151K | 20x | as long as short |
| Phoenix ZECshort | +0.0116% | 1h | 1,457.6 | −0.238% | $4.6M | $1.3M | 10x | |
| Lighter RH ZEC | +0.0120% | 1h | 1,461.7 | +0.046% | $2.1M | $7.0M | 10x | as long as short |
| 01 Exchange ZECUSD | +0.0120% | 1h | 1,461.7 | +0.045% | $8K | $7K | 5x | as long as short |
| Hyperliquid ZEC | +0.0144% | 1h | 1,461.6 | +0.039% | $761.5M | $424.5M | 10x | as long as short |
| Lighter ZEC | +0.0160% | 1h | 1,461.7 | +0.049% | $19.4M | $45.3M | 20x | as long as short |
| Kalshi KXZECPERP | +0.0192% | 8h | 1,460 | −0.072% | $1.5M | $4.4M | 2.2x | as long as short |
| RISEx ZEC/USDC | +0.0216% | 1h | 1,461.4 | +0.028% | $924K | $1.1M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0227% | 1h | 1,460.5 | −0.036% | $2.4M | $3.8M | 15x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0241% | 1h | 1,460.6 | −0.032% | $615K | $1.3M | 25x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0332% | 1h | 1,459.7 | −0.089% | $18.1M | $45.1M | 25x | as long as short |
| Arcus ZEC-USD | +0.0344% | 1h | 1,462.6 | +0.106% | $688K | $8.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0464% | 1h | 1,462.1 | +0.072% | $3.8M | $9.2M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0677% | 1h | 1,458.6 | −0.169% | $45K | $49K | 10x | as long as short |
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
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
01 Exchange ZECUSD
Hyperliquid ZEC
Lighter ZEC
Kalshi KXZECPERP
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Deribit ZEC_USDC-PERPETUAL
Kraken Futures PF_ZECUSD
Arcus ZEC-USD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD