ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0415%/8h= +45.4% APRnext payment +$0.52 per $10,000 · paid last 24h +0.002%

Price spread now: Arcus against Phoenix+0.081%109s7-day average −0.096% · 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−$230.233% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.136%−$14 on $10k

Price spread, last 7 days−0.165%−$17 · spread now +0.081%, 7d avg −0.096%

Together, before fees−0.302%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Arcus is 0.177% dearer against Phoenix than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.096%. Mind the row above: over the last 3 days funding on this pair cost −0.136%, so the current rate has only just turned in your favour. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.136% in total (about -14.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. 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	Phoenix ZEC	1,457.5	0.0103	pay 0.0013% / 1h	11m 41s	$4.6M	$1.6M	10x
Short	Arcus ZEC-USD	1,458.7	0.0518	get 0.0065% / 1h	11m 41s	$747K	$8.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now +0.081%Rate

Funding earned: $87.16
Price spread: +0.081% → −0.096%: $17.68
Slippage, 4 orders: −$11.82
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $81.53
Costs to cover: 0.233%
Break-even: 0.5 days

Slippage from Phoenix: live order book, 2 min ago; Arcus: live order book, 2 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 Phoenix live order book, 2 min ago	1.51 bp	6.1 bp −$6	13.3 bp −$133	88.1 bp −$8,806	doesn't fit
Sell Arcus live order book, 2 min ago	0.00 bp	2.3 bp −$2	3.4 bp −$34	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	−0.3476%	1h	1,433.1	−1.671%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0086%	8h	1,458	+0.034%	$28.8M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.5	+0.003%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,457.1	−0.026%	$17.7M	$44.6M	25x	as long as short
Bybit ZECUSDT	−0.0017%	8h	1,456	−0.105%	$268.7M	$677.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,458.5	+0.069%	$411K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,457.6	+0.006%	$934K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,458	+0.032%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,458.3	+0.055%	$593K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0002%	8h	1,456.6	−0.062%	$45.6M	$33.4M	—	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,458.3	+0.053%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,457.6	+0.005%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0018% / S +0.0073%	1h	1,458.1	+0.043%	$557K	—	100x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,457.3	−0.016%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0044%	1h	1,455.9	−0.109%	$395K	$520K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0058%	8h	1,457	−0.033%	$174.0M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0063%	8h	1,456.8	−0.047%	$49.3M	$191.0M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,457.2	−0.021%	$15K	$865K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.6	+0.075%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.9	−0.039%	$173K	$2.0M	50x	as long as short
Aster ZECUSDT	+0.0097%	8h	1,457.3	−0.016%	$15.3M	$33.9M	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.9	−0.044%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,458.9	+0.095%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.8	+0.021%	$754.0M	$495.3M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.5	−0.003%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.9	−0.040%	$665.2M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.9	−0.040%	$218.0M	$898.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457	−0.032%	$103.1M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457	−0.032%	$161.3M	$312.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,457.4	−0.010%	—	$101.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,458	+0.034%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.1	−0.028%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	−0.051%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,458	+0.032%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458.6	+0.074%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457.6	+0.008%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.6	+0.009%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.4	−0.075%	$445K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.7	+0.154%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.3	−0.016%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458.4	+0.062%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.9	+0.029%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,456.7	−0.054%	$897K	$26K	10x	as long as short
Phoenix ZEClong	+0.0103%	1h	1,457.5	long leg	$4.6M	$1.6M	10x
Extended ZEC-USD	+0.0104%	1h	1,457.6	+0.007%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.5	0.000%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.7	+0.015%	$852K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,459.2	+0.119%	$3.7M	$11.6M	50x	as long as short
Aftermath Perps ZECUSD	+0.0474%	1h	1,458	+0.032%	$40K	$34K	10x	as long as short
Arcus ZEC-USDshort	+0.0518%	1h	1,458.7	+0.081%	$747K	$8.0M	10x
Lighter RH ZEC	+0.0600%	1h	1,459.1	+0.112%	$1.9M	$8.5M	10x	as long as short