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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.013%
Price spread now: Phoenix against OKX+0.269%7-day average +0.131% · you sell dearer than you buy
Net, funding: paid 7d − costs+$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$250.251% of the position
Long on OKXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.591%+$59 on $10k
Price spread, last 7 days−0.113%−$11 · spread now +0.269%, 7d avg +0.131%
Together, before fees+0.478%+$48 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.138% dearer against OKX than usual: you sell high and buy low (spread +0.269% now, against its 7-day average of +0.131%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days. Mind the row above: over the last 7 days funding on this pair paid +0.591%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ZEC-USDT-SWAP1,5030.0100pay 0.0100% / 8h7h 31m$185.0M$1.37B50x
ShortPhoenix ZEC1,5070.0082get 0.0010% / 1h31m 35s$4.8M$1.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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

Funding earned
−$3.82
Price spread: +0.269% → +0.131%
$13.84
Slippage, 4 orders
−$8.13
Fee OKX: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$15.11
Costs to cover
0.251%
Break-even
never at this rate
Slippage from OKX: live order book, 3 min ago; Phoenix: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 3 min ago0.03 bp5.9 bp −$69.1 bp −$9120.7 bp −$2,072doesn't fit
Sell Phoenix live order book, 7 min ago2.06 bp7.1 bp −$717.0 bp −$17058.2 bp −$5,815doesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3702%1h1,491.4−0.768%$36K$275K12xas long as short
Perpl ZEC−0.0447%43m1,502.1−0.057%$62K$305K10xas long as short
Aftermath Perps ZECUSD−0.0203%1h1,507+0.270%$48K$58K10xas long as short
BloFin ZEC-USDT−0.0155%8h1,505.7+0.185%$31.8M$76.5M75xas long as short
Bulk ZEC-USD−0.0098%1h1,506.5+0.238%$775K$147K10xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,503.9+0.062%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,503.3+0.023%$417K$34K5xas long as short
Kalshi KXZECPERP0.0000%8h1,505.7+0.180%$1.6M$5.0M2.2xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,504.1+0.076%$5.4M—150xas long as short
Kraken Futures PF_ZECUSD+0.0019%1h1,504.3+0.087%$18.3M$48.0M25xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ZECUSD+0.0032%1h1,503.7+0.049%$8K$6K5xas long as short
Gate ZEC_USDT+0.0060%8h1,503.5+0.035%$60.4M$185.7M75xas long as short
Phoenix ZECshort+0.0082%1h1,507+0.269%$4.8M$1.4M10x
Orderly PERP_ZEC_USDC+0.0085%8h1,503.9+0.062%$304K$861K20xas long as short
Lighter ZEC+0.0096%1h1,504.4+0.097%$19.4M$44.9M20xas long as short
Lighter RH ZEC+0.0096%1h1,504.8+0.120%$2.1M$7.5M10xas long as short
Popdex ZECUSDT+0.0096%1h1,503.4+0.026%$171K$1.8M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,503.4+0.031%$62K$17K10xas long as short
Katana Perps ZEC-USD+0.0100%8h1,503.7+0.049%$17K$898K10xas long as short
Nado ZEC-PERP+0.0100%1h1,503.5+0.039%$3.1M$7.6M10xas long as short
Hyperliquid ZEC+0.0100%1h1,503.8+0.056%$787.2M$446.4M10xas long as short
Aster ZECUSDT+0.0100%8h1,503.1+0.011%$14.1M$30.7M75xas long as short
Pacifica ZEC+0.0100%1h1,503.9+0.065%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,503.3+0.024%$710.0M$2.33B75xas long as short
Bybit ZECUSDT+0.0100%8h1,502.9−0.005%$269.5M$624.4M75xas long as short
OKX ZEC-USDT-SWAPlong+0.0100%8h1,503long leg$185.0M$1.37B50x
Ondo Perps ZEC-USD.P+0.0100%1h1,501.6−0.090%$408K$557K5xas long as short
Arcus ZEC-USD+0.0100%1h1,504.7+0.114%$610K$9.0M10xas long as short
MEXC ZEC_USDT+0.0100%8h1,503.5+0.037%$406.2M$834.8M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,503.5+0.037%$102.6M$57.3M75xas long as short
Bitget ZECUSDT+0.0100%8h1,503.4+0.029%$162.6M$295.6M75xas long as short
BingX ZEC-USDT+0.0100%8h1,503.4+0.027%—$120.2M—as long as short
Variational Omni ZEC+0.0100%8h1,506.9+0.265%$49.9M$35.9M—as long as short
edgeX ZECUSDC+0.0100%4h1,505.3+0.155%$555K$9.2M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,506.8+0.253%$3.1M$533K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,505.8+0.190%$413K$952K50xas long as short
StandX ZEC-USD+0.0100%1h1,504.7+0.113%$50K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,503.8+0.056%$373K$1.7M10xas long as short
Bullet ZEC-USD+0.0100%1h1,503.3+0.024%$168K$194K20xas long as short
Derive ZEC-PERP+0.0100%1h1,506.3+0.219%$450K$419K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,507.3+0.287%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,503.9+0.061%$254K$3.6M10xas long as short
HTX ZEC-USDT+0.0100%8h1,503.5+0.039%$2.7M$21.2M75xas long as short
Phemex ZECUSDT+0.0100%8h1,504.3+0.088%$4.0M$4.9M50xas long as short
Extended ZEC-USD+0.0104%1h1,503.4+0.032%$2.8M$8.0M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,503.9+0.065%$44K$153K20xas long as short
RISEx ZEC/USDC+0.0157%1h1,503.1+0.009%$980K$1.1M10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0159% / S −0.0163%1h1,504.2+0.083%$334K—100xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0217%1h1,504.7+0.114%$689K$1.4M25xas long as short
Backpack ZEC_USDC_PERP+0.0341%1h1,504.4+0.094%$2.4M$3.8M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0368%1h1,505.3+0.154%$3.8M$10.0M50xas long as short