ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.08 per $10,000 · paid last 24h −0.039%

Price spread now: gTrade (Gains Network) against Phoenix+0.230%7-day average −0.081% · 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−$251as in the Price arb table

costs, in and out, $10k−$2822.823% of the position

Long on Phoenix Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.246%−$25 on $10k

Price spread, last 3 days (all we have)+0.079%+$8 · spread now +0.230%, 7d avg −0.081%

Together, before fees−0.167%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.311% dearer against Phoenix than usual: you sell high and buy low (spread +0.230% now, against its 7-day average of −0.081%): +$31 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 3 days (−0.246% in total) that is about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ZEC	1,462.9	0.0074	pay 0.0009% / 1h	53m 21s	$4.6M	$1.4M	10x
Short	gTrade (Gains Network) ZEC/USD	1,466.3	L +0.0007% / S −0.0006%	get 0.0001% / 1h	53m 21s	$5.2M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.230%Rate

Funding earned: −$14.22
Price spread: +0.230% → −0.081%: $31.12
Slippage, 4 orders: −$265.33
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$265.43
Costs to cover: 2.823%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 Phoenix live order book, 6 min ago	1.50 bp	6.1 bp −$6	13.4 bp −$134	111.8 bp −$11.2K	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 1 min ago	130.03 bp	135.0 bp −$135	584.7 bp −$5,847	doesn't fit	doesn't fit

ZEC on 50 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	1,469.5	+0.450%	$34K	$272K	12x	as long as short
ApeX Omni ZECUSDT	−0.0430%	1h	1,464	+0.069%	$426K	$879K	50x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.1	+0.079%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0014%	1h	1,465.5	+0.175%	$397K	$440K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,465.1	+0.144%	$413K	$47K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,464.6	+0.116%	$964K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,465.6	+0.178%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USDshort	L +0.0007% / S −0.0006%	1h	1,466.3	+0.230%	$5.2M	—	150x
Orderly PERP_ZEC_USDC	+0.0034%	8h	1,465.8	+0.197%	$293K	$983K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,466.2	+0.226%	$383K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEClong	+0.0074%	1h	1,462.9	long leg	$4.6M	$1.4M	10x
Variational Omni ZEC	+0.0084%	8h	1,465.1	+0.144%	$47.8M	$32.1M	—	as long as short
01 Exchange ZECUSD	+0.0096%	1h	1,466.9	+0.273%	$8K	$7K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,465.9	+0.200%	$174K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0098%	8h	1,466.2	+0.225%	$180.6M	$1.24B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,465.7	+0.190%	$19K	$846K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466.4	+0.234%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,466.5	+0.240%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,467.4	+0.305%	$764.9M	$432.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,466	+0.209%	$14.7M	$29.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.4	+0.239%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,466.5	+0.240%	$677.4M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,466.2	+0.225%	$271.5M	$604.1M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,462.6	−0.026%	$888K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,466.3	+0.231%	$50.1M	$170.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,466.4	+0.239%	$215.8M	$768.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.4	+0.235%	$103.2M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,466.3	+0.231%	$162.9M	$275.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,466.4	+0.239%	—	$97.1M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.8	−0.079%	$569K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,465.9	+0.204%	$3.0M	$430K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.6	+0.113%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465.7	+0.189%	$342K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,466.2	+0.223%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,464.7	+0.117%	$447K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,467.3	+0.295%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,466.1	+0.214%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,465	+0.141%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465	+0.139%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,466	+0.209%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,465.6	+0.182%	$48K	$155K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0130%	1h	1,465.6	+0.181%	$2.4M	$3.8M	15x	as long as short
Lighter ZEC	+0.0152%	1h	1,467.6	+0.320%	$19.2M	$45.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,465.3	+0.159%	$18.0M	$43.7M	25x	as long as short
Lighter RH ZEC	+0.0272%	1h	1,468	+0.342%	$2.1M	$6.8M	10x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,467.9	+0.337%	$698K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0341%	1h	1,465.9	+0.205%	$611K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,466.6	+0.252%	$849K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,466.7	+0.255%	$3.7M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0730%	1h	1,467.1	+0.287%	$43K	$46K	10x	as long as short