Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.090%

Price spread now: ApeX Omni against Phemex+0.270%77s7-day average −0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as 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−$510.510% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−1.028%−$103 on $10k

Price spread, last 4 days (all we have)−0.606%−$61 · spread now +0.270%, 7d avg −0.172%

Together, before fees−1.633%−$163 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: ApeX Omni is 0.442% dearer against Phemex than usual: you sell high and buy low, +$44 on $10k if it goes back to its 7-day average of −0.172%. The two prices were read 77 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	Phemex ZECUSDT	1,453.1	0.0100	pay 0.0100% / 8h	3h 47m	$3.8M	$5.0M	50x
Short	ApeX Omni ZECUSDT	1,457	0.0100	get 0.0013% / 1h	47m 46s	$404K	$941K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.270%Rate

Funding earned: $0
Price spread: +0.270% → −0.172%: $44.21
Slippage, 4 orders: −$29.02
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$6.81
Costs to cover: 0.510%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; ApeX Omni: live order book, 6 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 Phemex live order book, 6 min ago	3.71 bp	18.8 bp −$19	33.8 bp −$338	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 6 min ago	2.61 bp	9.0 bp −$9	33.3 bp −$333	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	−0.3042%	1h	1,454	+0.066%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.8	+0.049%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,452.9	−0.011%	$29.4M	$70.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,453.1	+0.001%	$409K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.8	+0.051%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.1	+0.001%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	−0.034%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,452.6	−0.032%	$290K	$943K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0079% / S −0.0028%	1h	1,452.2	−0.059%	$432K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453	−0.003%	$173K	$1.7M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,452.7	−0.023%	$10K	$848K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.1	+0.070%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454.1	+0.074%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.4	−0.044%	$14.7M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.9	+0.059%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452	−0.074%	$666.8M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,451.7	−0.097%	$260.9M	$600.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.1	−0.067%	$177.4M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.7	−0.025%	$395K	$440K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454	+0.065%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452	−0.076%	$50.5M	$170.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.1	−0.065%	$214.4M	$765.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.4	−0.044%	$102.4M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.3	−0.052%	$165.1M	$270.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,452.3	−0.052%	—	$105.5M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,453	−0.003%	$47.6M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.8	+0.188%	$566K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.237%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,457	+0.270%	$404K	$941K	50x
StandX ZEC-USD	+0.0100%	1h	1,452.9	−0.012%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.7	−0.025%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.2	−0.060%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.3	−0.123%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455	+0.132%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.3	−0.052%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.2	+0.008%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,453.1	long leg	$3.8M	$5.0M	50x
Lighter RH ZEC	+0.0104%	1h	1,453.9	+0.056%	$2.1M	$7.0M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.4	−0.044%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.6	−0.031%	$47K	$151K	20x	as long as short
Hyperliquid ZEC	+0.0113%	1h	1,453.3	+0.016%	$756.0M	$428.6M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,454.5	+0.100%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,453.1	+0.001%	$8K	$7K	5x	as long as short
Backpack ZEC_USDC_PERP	+0.0151%	1h	1,452.9	−0.010%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0176%	1h	1,453.9	+0.054%	$19.2M	$44.7M	20x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,453.1	+0.004%	$919K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0253%	1h	1,453.4	+0.020%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0334%	1h	1,452.4	−0.045%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,455.3	+0.152%	$689K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,454.5	+0.100%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0681%	1h	1,454.7	+0.109%	$45K	$49K	10x	as long as short