Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: OKX against Phemex−0.065%53s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as 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−$560.555% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)−0.403%−$40 · spread now −0.065%, 7d avg −0.034%

Together, before fees−0.542%−$54 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: OKX is 0.031% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.034%. The two prices were read 53 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	1,452.5	0.0100	pay 0.0100% / 8h	3h 46m	$3.8M	$5.0M	50x
Short	OKX ZEC-USDT-SWAP	1,451.5	0.0100	get 0.0100% / 8h	3h 46m	$177.4M	$1.21B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → −0.034%: −$3.05
Slippage, 4 orders: −$33.55
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.6
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; OKX: live order book, 3 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, 2 min ago	3.68 bp	19.3 bp −$19	30.1 bp −$301	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.03 bp	5.6 bp −$6	7.8 bp −$78	17.1 bp −$1,709	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	+0.109%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,451.5	−0.066%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,451.5	−0.067%	$29.4M	$70.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,451.8	−0.042%	$409K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.1	+0.043%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,450.4	−0.144%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,451.5	−0.069%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,451.3	−0.078%	$290K	$943K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0079% / S −0.0028%	1h	1,451.6	−0.060%	$432K	—	100x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,452.6	+0.011%	$2.1M	$7.0M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,451.1	−0.090%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,451.1	−0.092%	$13K	$851K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.1	−0.093%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,451.7	−0.049%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,451.5	−0.066%	$14.7M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451.6	−0.060%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,451.4	−0.073%	$666.5M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,451	−0.103%	$260.8M	$600.2M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,451.5	−0.065%	$177.4M	$1.21B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.7	+0.017%	$394K	$439K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454	+0.107%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,451.4	−0.072%	$50.5M	$170.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,451.2	−0.083%	$216.4M	$766.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451.2	−0.085%	$102.3M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,451.4	−0.073%	$164.9M	$270.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,451.3	−0.076%	—	$105.5M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,453	+0.040%	$47.6M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,452.9	+0.033%	$565K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,454	+0.106%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,453.1	+0.047%	$403K	$941K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.1	−0.023%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.1	−0.093%	$352K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,451.2	−0.084%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,450.5	−0.137%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,453.9	+0.100%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,451.6	−0.058%	$232K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,451	−0.100%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,452.5	long leg	$3.8M	$5.0M	50x
Extended ZEC-USD	+0.0104%	1h	1,451.2	−0.087%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,451.4	−0.072%	$47K	$151K	20x	as long as short
Hyperliquid ZEC	+0.0111%	1h	1,452.5	+0.003%	$755.6M	$428.6M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,454.5	+0.143%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,451.3	−0.078%	$8K	$7K	5x	as long as short
Backpack ZEC_USDC_PERP	+0.0133%	1h	1,452.1	−0.021%	$2.4M	$3.9M	15x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0155%	1h	1,452.2	−0.014%	$613K	$1.3M	25x	as long as short
Lighter ZEC	+0.0168%	1h	1,452.5	+0.003%	$19.1M	$44.7M	20x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,451.4	−0.071%	$918K	$1.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0334%	1h	1,451.7	−0.055%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,453.9	+0.099%	$690K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,453.4	+0.065%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0673%	1h	1,453.7	+0.086%	$44K	$49K	10x	as long as short