Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against KuCoin+0.008%50s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.546% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 3 days (all we have)+0.205%+$21 · spread now +0.008%, 7d avg +0.039%

Together, before fees+0.317%+$32 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 0.031% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.039%. 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	KuCoin ZECUSDTM	1,473.3	0.0100	pay 0.0100% / 8h	4h 04m	$103.7M	$62.3M	75x
Short	Phemex ZECUSDT	1,473.4	0.0100	get 0.0100% / 8h	4h 04m	$3.8M	$6.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.039%: −$3.11
Slippage, 4 orders: −$30.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$57.67
Costs to cover: 0.546%
Break-even: never at this rate

Slippage from KuCoin: 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 KuCoin live order book, 4 min ago	2.34 bp	9.7 bp −$10	16.4 bp −$164	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.80 bp	17.9 bp −$18	31.8 bp −$318	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	−0.3655%	1h	1,460.2	−0.890%	$34K	$159K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0434%	1h	1,473.2	−0.010%	$18.0M	$46.1M	25x	as long as short
ApeX Omni ZECUSDT	−0.0341%	1h	1,469.7	−0.244%	$958K	$432K	50x	as long as short
Variational Omni ZEC	−0.0137%	8h	1,472.3	−0.066%	$48.2M	$31.0M	—	as long as short
Bybit ZECUSDT	−0.0132%	8h	1,473.7	+0.026%	$275.8M	$716.9M	75x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,472.8	−0.035%	$30.1M	$78.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,473.3	+0.001%	$6K	$2K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0062%	1h	1,470.2	−0.211%	$399K	$571K	5x	as long as short
Orderly PERP_ZEC_USDC	−0.0013%	8h	1,474.4	+0.075%	$285K	$1.7M	20x	as long as short
01 Exchange ZECUSD	−0.0008%	1h	1,474	+0.049%	$9K	$10K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZEC-USDT-SWAP	−0.0002%	8h	1,474	+0.044%	$177.1M	$1.45B	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.5	+0.012%	$415K	$107K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.9	−0.029%	$979K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473.4	+0.003%	$80K	$435K	10x	as long as short
Aster ZECUSDT	0.0000%	8h	1,473.3	−0.004%	$15.1M	$36.1M	75x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.2	+0.058%	$5.2M	—	150x	as long as short
Phoenix ZEC	+0.0012%	1h	1,473.7	+0.029%	$4.7M	$1.7M	10x	as long as short
Gate ZEC_USDT	+0.0012%	8h	1,473.5	+0.010%	$51.2M	$197.0M	75x	as long as short
MEXC ZEC_USDT	+0.0035%	8h	1,473.5	+0.010%	$229.1M	$979.9M	150x	as long as short
Binance ZECUSDT	+0.0037%	8h	1,473.7	+0.029%	$675.1M	$2.66B	75x	as long as short
Polymarket Perps ZEC-USD	+0.0063%	1h	1,472.8	−0.035%	$322K	$2.5M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0070% / S +0.0044%	1h	1,473.7	+0.027%	$578K	—	100x	as long as short
Aevo ZEC-PERP	+0.0088%	1h	1,473	−0.024%	$37K	$362K	20x	as long as short
Katana Perps ZEC-USD	+0.0091%	8h	1,473.1	−0.015%	$12K	$889K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.3	−0.001%	$176K	$2.1M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,474.2	+0.062%	$61K	$37K	10x	as long as short
RISEx ZEC/USDC	+0.0100%	1h	1,473.9	+0.039%	$855K	$2.6M	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.9	−0.093%	$3.1M	$7.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,473.7	+0.026%	$768.7M	$559.0M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.1	+0.051%	$1.6M	$3.3M	10x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475.5	+0.151%	$728K	$7.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.1	+0.188%	$909K	$21K	10x	as long as short
KuCoin ZECUSDTMlong	+0.0100%	8h	1,473.3	long leg	$103.7M	$62.3M	75x
Bitget ZECUSDT	+0.0100%	8h	1,473.4	+0.005%	$170.7M	$330.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,474.1	+0.054%	—	$115.9M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,474.3	+0.064%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.3	+0.002%	$494K	$10.4M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	−0.007%	$3.0M	$510K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.6	+0.022%	$110K	$4.8M	30x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.4	+0.009%	$128K	$162K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471.6	−0.117%	$448K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475.8	+0.168%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,473.1	−0.017%	$224K	$5.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,473	−0.020%	$2.4M	$28.4M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,473.4	+0.008%	$3.8M	$6.0M	50x
Extended ZEC-USD	+0.0104%	1h	1,473.5	+0.011%	$3.2M	$4.6M	10x	as long as short
Lighter ZEC	+0.0120%	1h	1,474.9	+0.111%	$19.5M	$59.4M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0209%	1h	1,474	+0.044%	$577K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0232%	1h	1,475.4	+0.139%	$1.8M	$7.7M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0384%	1h	1,474.9	+0.107%	$3.8M	$12.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0513%	1h	1,474	+0.045%	$39K	$33K	10x	as long as short