Funding you earn now, next payment 02:00 UTC+0.0026%/8h= +2.8% APRnext payment +$0.03 per $10,000 · paid last 24h −0.029%
Price spread now: Bulk against Phoenix−0.137%7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$210.209% of the position
Funding, last 4 days (all we have)−0.218%−$22 on $10k
+Price spread, last 4 days (all we have)−0.731%−$73 · spread now −0.137%, 7d avg −0.125%
=The price spread sits at its 7-day average of −0.125%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.218%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,453.2 | 0.0074 | pay 0.0009% / 1h | 33m 09s | $4.6M | $1.4M | 10x |
| Short | Bulk ZEC-USD | 1,451.2 | 0.0100 | get 0.0013% / 1h | 33m 09s | $879K | $21K | 10x |
Phoenix ZEC
Bulk ZEC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Phoenix. 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
- $5.46
- Price spread: −0.137% → −0.125%
- −$1.24
- Slippage, 4 orders
- −$6.93
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$16.71
- Costs to cover
- 0.209%
- Break-even
- 28.4 days
Slippage from Phoenix: live order book, 6 min ago; Bulk: live order book, 31 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, 6 min ago | 2.00 bp | 6.9 bp −$7 | 16.4 bp −$164 | 140.8 bp −$14.1K | doesn't fit |
| Sell Bulk live order book, 31 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 7.5 bp −$746 | 15.9 bp −$7,969 |
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 | −0.3244% | 1h | 1,453.2 | 0.000% | $33K | $272K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0082% | 8h | 1,453.8 | +0.041% | $29.5M | $70.8M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,453.6 | +0.025% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,452.8 | −0.028% | $409K | $44K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,454 | +0.051% | $1.4M | $5.0M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,452.6 | −0.041% | $83K | $248K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,453.4 | +0.014% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0042% | 8h | 1,453.6 | +0.026% | $290K | $979K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0061% / S −0.0011% | 1h | 1,453.3 | +0.009% | $408K | — | 100x | as long as short |
| Phoenix ZEClong | +0.0074% | 1h | 1,453.2 | long leg | $4.6M | $1.4M | 10x |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]Show all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex ZECUSDT | +0.0096% | 1h | 1,453.5 | +0.019% | $173K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,452.7 | −0.035% | $14K | $854K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,453.3 | +0.002% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,453.6 | +0.026% | $2.5M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,454.6 | +0.095% | $757.0M | $433.8M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,453.7 | +0.030% | $14.4M | $28.4M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,453.4 | +0.014% | $1.7M | $2.6M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,454.1 | +0.061% | $665.9M | $2.26B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,452.5 | −0.048% | $265.9M | $611.0M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,452.7 | −0.039% | $179.1M | $1.24B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,452.4 | −0.056% | $394K | $432K | 5x | as long as short |
| Bulk ZEC-USDshort | +0.0100% | 1h | 1,451.2 | −0.137% | $879K | $21K | 10x | |
| Gate ZEC_USDT | +0.0100% | 8h | 1,453.7 | +0.030% | $49.5M | $173.0M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,453.9 | +0.045% | $213.1M | $774.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,453.8 | +0.041% | $102.2M | $56.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,452.7 | −0.035% | $161.4M | $277.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,452.2 | −0.074% | — | $6.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,453 | −0.013% | $2.4M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,448.7 | −0.310% | $46.8M | $32.3M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,451 | −0.150% | $565K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,453.8 | +0.041% | $3.0M | $419K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,452.9 | −0.021% | $408K | $905K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,452.9 | −0.024% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,453.1 | −0.008% | $323K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,453.7 | +0.032% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,452.2 | −0.068% | $443K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456.1 | +0.199% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,454 | +0.054% | $232K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,453 | −0.015% | $2.6M | $18.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,454.4 | +0.081% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,453.5 | +0.020% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,453.4 | +0.009% | $47K | $156K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0120% | 1h | 1,454 | +0.056% | $8K | $7K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0196% | 1h | 1,453.9 | +0.047% | $17.9M | $44.5M | 25x | as long as short |
| Lighter ZEC | +0.0200% | 1h | 1,455.3 | +0.145% | $19.0M | $46.4M | 20x | as long as short |
| Arcus ZEC-USD | +0.0277% | 1h | 1,455.5 | +0.160% | $714K | $8.5M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0286% | 1h | 1,454.3 | +0.073% | $611K | $1.3M | 25x | as long as short |
| Lighter RH ZEC | +0.0360% | 1h | 1,455.9 | +0.182% | $2.0M | $6.9M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0409% | 1h | 1,453.8 | +0.039% | $829K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0456% | 1h | 1,455.1 | +0.126% | $3.7M | $9.1M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0712% | 1h | 1,454.2 | +0.070% | $43K | $46K | 10x | as long as short |
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
Variational Omni ZEC
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
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
Kraken Futures PF_ZECUSD
Lighter ZEC
Arcus ZEC-USD
Deribit ZEC_USDC-PERPETUAL
Lighter RH ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD