Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: SoDEX against Phemex+0.063%57s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$500.501% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.063%, 7d avg −0.022%

Together, before fees−0.045%−$4 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: SoDEX is 0.086% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.022%. The two prices were read 57 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	1,451.4	0.0100	pay 0.0100% / 8h	4h 38m	$3.8M	$5.1M	50x
Short	SoDEX ZEC-USD	1,452.4	0.0100	get 0.0013% / 1h	38m 25s	$233K	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → −0.022%: $8.57
Slippage, 4 orders: −$30.09
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$41.52
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; SoDEX: live order book, 1 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, 5 min ago	6.52 bp	21.0 bp −$21	33.7 bp −$337	doesn't fit	doesn't fit
Sell SoDEX live order book, 1 min ago	0.03 bp	5.2 bp −$5	17.3 bp −$173	107.0 bp −$10.7K	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	−0.3166%	1h	1,450	−0.100%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,451.4	−0.003%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,451.5	+0.005%	$29.2M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,451.2	−0.016%	$409K	$39K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,452.7	+0.085%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.1	−0.025%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.3	+0.056%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0061%	8h	1,452.5	+0.070%	$291K	$957K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0066% / S −0.0016%	1h	1,452.1	+0.049%	$408K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,452.5	+0.070%	$8K	$7K	5x	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	1,452.8	+0.093%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.1	+0.045%	$12K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.1	+0.042%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.2	+0.055%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.7	+0.156%	$756.1M	$431.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.4	+0.065%	$14.4M	$27.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451.4	−0.002%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.6	+0.079%	$666.5M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,452.1	+0.048%	$261.3M	$601.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.7	+0.089%	$177.4M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.1	+0.045%	$394K	$440K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,450.7	−0.051%	$875K	$29K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.5	+0.073%	$50.0M	$173.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	+0.076%	$216.1M	$770.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.8	+0.093%	$102.1M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.9	+0.100%	$165.0M	$273.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,452.6	+0.083%	—	$101.1M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,452.3	+0.059%	$2.4M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,449.4	−0.139%	$47.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,450.6	−0.058%	$565K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.9	+0.101%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,450.8	−0.042%	$403K	$925K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.4	+0.068%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.9	+0.032%	$365K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	+0.070%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.4	−0.001%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455	+0.243%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDshort	+0.0100%	1h	1,452.4	+0.063%	$233K	$3.4M	10x
HTX ZEC-USDT	+0.0100%	8h	1,451.9	+0.032%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,451.4	long leg	$3.8M	$5.1M	50x
Extended ZEC-USD	+0.0104%	1h	1,452.1	+0.044%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,451.7	+0.020%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,450.5	−0.068%	$4.6M	$1.3M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0278%	1h	1,452.2	+0.049%	$18.0M	$44.9M	25x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0328%	1h	1,453.2	+0.124%	$608K	$1.3M	25x	as long as short
Lighter ZEC	+0.0336%	1h	1,452.6	+0.081%	$19.1M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,452.3	+0.062%	$919K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,454.3	+0.197%	$3.8M	$9.0M	50x	as long as short
Lighter RH ZEC	+0.0488%	1h	1,452.9	+0.103%	$2.0M	$6.9M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,450	−0.102%	$738K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0675%	1h	1,451.6	+0.009%	$44K	$49K	10x	as long as short