Funding you earn now, next payment 01:00 UTC−0.0443%/8h= −48.5% APRpaid last 24h −0.044%
Price spread now: Kraken Futures against Phemex−0.025%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$580.575% of the position
Funding, last 7 days−0.268%−$27 on $10k
+Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.025%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.030% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.268% in total (about -14.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ZECUSDT | 1,467.8 | 0.0100 | pay 0.0100% / 8h | 7h 00m | $3.8M | $5.2M | 50x |
| Short | Kraken Futures PF_ZECUSD | 1,467.4 | −0.0343 | pay 0.0043% / 1h | 0m 37s | $17.9M | $43.1M | 25x |
Phemex ZECUSDT
Kraken Futures PF_ZECUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- −$93.11
- Price spread: −0.025% → +0.005%
- −$2.95
- Slippage, 4 orders
- −$35.55
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$153.61
- Costs to cover
- 0.575%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Kraken Futures: 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 Phemex live order book, 3 min ago | 2.92 bp | 14.0 bp −$14 | 25.2 bp −$252 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 2.99 bp | 11.8 bp −$12 | 16.7 bp −$167 | 23.8 bp −$2,383 | 87.3 bp −$43.7K |
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 | −0.3321% | 1h | 1,471.6 | +0.260% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSDshort | −0.0343% | 1h | 1,467.4 | −0.025% | $17.9M | $43.1M | 25x | |
| Ondo Perps ZEC-USD.P | −0.0119% | 1h | 1,469.7 | +0.129% | $398K | $516K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0115% | 8h | 1,467.6 | −0.013% | $29.7M | $72.1M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469.2 | +0.095% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0007% | 8h | 1,467.9 | +0.007% | $47.8M | $33.5M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469.2 | +0.093% | $414K | $103K | 5x | as long as short |
| 01 Exchange ZECUSD | 0.0000% | 1h | 1,468.8 | +0.067% | $8K | $9K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,469.1 | +0.089% | $959K | $5.2M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,468.5 | +0.050% | $83K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
01 Exchange ZECUSD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | +0.0001% | 1h | 1,468.2 | +0.025% | $604K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,468.2 | +0.029% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0022% | 8h | 1,467.5 | −0.022% | $293K | $1.1M | 20x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,469.5 | +0.117% | $4.6M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,468.4 | +0.039% | $378K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0068% | 8h | 1,468.6 | +0.056% | $180.8M | $1.28B | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,468.7 | +0.063% | $173K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,468.5 | +0.045% | $12K | $837K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,469.4 | +0.108% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,469.3 | +0.102% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,469.9 | +0.142% | $765.2M | $451.4M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,469.1 | +0.087% | $14.9M | $31.3M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,469.5 | +0.112% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,468.9 | +0.072% | $682.2M | $2.35B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,468.5 | +0.048% | $272.0M | $627.3M | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,470.7 | +0.194% | $697K | $8.6M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,467.8 | 0.000% | $893K | $21K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,468.8 | +0.070% | $50.0M | $182.7M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,469.5 | +0.114% | $218.8M | $832.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,469.4 | +0.106% | $103.7M | $55.4M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,468.7 | +0.059% | $163.4M | $287.4M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,469.4 | +0.111% | — | $100.1M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,469.7 | +0.132% | $572K | $9.1M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,471.2 | +0.232% | $3.0M | $450K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,469.8 | +0.132% | $427K | $882K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,468.2 | +0.029% | $71K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,468.5 | +0.047% | $340K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,468.4 | +0.042% | $128K | $158K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,466.1 | −0.116% | $457K | $510K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,470.1 | +0.159% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,467.3 | −0.033% | $242K | $3.8M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,466.4 | −0.094% | $2.5M | $19.2M | 75x | as long as short |
| Phemex ZECUSDTlong | +0.0100% | 8h | 1,467.8 | long leg | $3.8M | $5.2M | 50x | |
| Extended ZEC-USD | +0.0104% | 1h | 1,469.1 | +0.086% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,467.3 | −0.035% | $53K | $162K | 20x | as long as short |
| Lighter ZEC | +0.0216% | 1h | 1,471.2 | +0.228% | $19.2M | $50.6M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,469.5 | +0.114% | $853K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,469.2 | +0.093% | $3.7M | $9.6M | 50x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0502% | 1h | 1,468.3 | +0.030% | $2.5M | $3.9M | 15x | as long as short |
| Lighter RH ZEC | +0.0648% | 1h | 1,470.8 | +0.202% | $2.1M | $8.5M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0749% | 1h | 1,469.5 | +0.114% | $43K | $46K | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
Extended ZEC-USD
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Aftermath Perps ZECUSD