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Price arb /

ZEC

all ZEC markets
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Spread before costs (cost unknown: a leg has no order-book sample)−0.077%
7d average−0.066%if it closes, per $10,000$8funding while held, a day−$0.38
Long on PhoenixShort on GMX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ZEC1,488.1−0.0004get 0.0000% / 1h27m 09s$4.7M$1.7M10x
ShortGMX ZEC/USD [WBTC.b-USDC]1,486.9L +0.0092% / S +0.0016%pay 0.0002% / 1h27m 09s$583K—100x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$7.7
Funding while held
−$0.38
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee GMX: 6 bp × 2 orders
−$12
Net
−$27.08
Spread needed to break even
0.190%
Slippage unknown: Phoenix: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0013%
Per $10,000 a day
−$0.38
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 3 min ago1.68 bp6.4 bp −$614.6 bp −$14696.2 bp −$9,617doesn't fit
Sell GMX no order-book sample—————
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ZEC price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni1,483.4cheapestOndo Perps1,483.4+0.001%Bulk1,483.9+0.035%Binance1,484.3+0.060%Derive1,484.6+0.079%Bybit1,484.6+0.081%ApeX Omni1,484.7+0.090%OKX1,484.8+0.096%Bitget1,485.1+0.114%Gate1,485.1+0.117%MEXC1,485.1+0.117%SoDEX1,485.2+0.123%Kraken Futures1,485.3+0.127%Aevo1,485.3+0.128%BloFin1,485.4+0.135%BingX1,485.5+0.145%Orderly1,485.6+0.148%Katana Perps1,485.7+0.158%Hyperliquid1,485.8+0.163%Popdex1,485.8+0.164%Paradex1,485.9+0.167%Backpack1,486+0.176%Phemex1,486+0.179%Bullet1,486.2+0.187%Polymarket Perps1,486.2+0.190%Extended1,486.2+0.193%Aster1,486.3+0.195%KuCoin1,486.4+0.204%Kalshi1,486.6+0.215%RISEx1,486.6+0.218%Pacifica1,486.6+0.219%01 Exchange1,486.6+0.219%Perpl1,486.7+0.224%Lighter1,486.7+0.225%Aftermath Perps1,486.7+0.225%Deribit1,486.7+0.225%Nado1,486.9+0.234%
GMX1,486.9+0.240%
gTrade (Gains Network)1,487+0.244%HTX1,487+0.244%Lighter RH1,487.2+0.259%Arcus1,487.5+0.275%dYdX1,487.7+0.291%edgeX1,487.9+0.306%Coinbase International1,488+0.314%
Phoenix1,488.1+0.317%
StandX1,488.1+0.317%Hotstuff1,489.1+0.386%SunX1,489.2+0.389%Injective1,489.9+0.441%

ZEC on 50 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni ZEC−0.316%−0.0136%8h$48.1M$32.4M—as long as short
Ondo Perps ZEC-USD.P−0.314%−0.0094%1h$404K$642K5xas long as short
Bulk ZEC-USD−0.281%−0.0137%1h$914K$47K10xas long as short
Binance ZECUSDT−0.256%+0.0006%8h$680.2M$2.84B75xas long as short
Derive ZEC-PERP−0.237%+0.0100%1h$451K$528K6.7xas long as short
Bybit ZECUSDT−0.235%−0.0237%8h$277.3M$767.8M75xas long as short
ApeX Omni ZECUSDT−0.226%−0.0290%1h$970K$466K50xas long as short
OKX ZEC-USDT-SWAP−0.220%−0.0013%8h$179.0M$1.58B50xas long as short
Bitget ZECUSDT−0.202%+0.0092%8h$169.4M$343.7M75xas long as short
Gate ZEC_USDT−0.200%−0.0071%8h$51.0M$211.1M75xas long as short
Show all 50 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
MEXC ZEC_USDT−0.200%+0.0006%8h$219.9M$999.2M150xas long as short
SoDEX ZEC-USD−0.193%+0.0024%1h$226K$5.6M10xas long as short
Kraken Futures PF_ZECUSD−0.189%−0.0788%1h$18.1M$47.8M25xas long as short
Aevo ZEC-PERP−0.188%+0.0080%1h$39K$366K20xas long as short
BloFin ZEC-USDT−0.181%−0.0114%8h$30.7M$82.1M75xas long as short
BingX ZEC-USDT−0.171%+0.0091%8h—$129.1M—as long as short
Orderly PERP_ZEC_USDC−0.169%−0.0019%8h$293K$1.8M20xas long as short
Katana Perps ZEC-USD−0.158%+0.0079%8h$16K$909K10xas long as short
Hyperliquid ZEC−0.153%+0.0100%1h$782.1M$646.7M10xas long as short
Popdex ZECUSDT−0.152%+0.0096%1h$174K$2.2M50xas long as short
Paradex ZEC-USD-PERP−0.149%+0.0096%8h$61K$38K10xas long as short
Backpack ZEC_USDC_PERP−0.140%+0.0216%1h$2.3M$3.8M15xas long as short
Phemex ZECUSDT−0.137%+0.0100%8h$3.8M$6.5M50xas long as short
Bullet ZEC-USD−0.130%+0.0100%1h$130K$166K20xas long as short
Polymarket Perps ZEC-USD−0.126%+0.0100%1h$304K$3.1M10xas long as short
Extended ZEC-USD−0.123%+0.0104%1h$3.3M$4.8M10xas long as short
Aster ZECUSDT−0.121%−0.0024%8h$15.0M$37.6M75xas long as short
KuCoin ZECUSDTM−0.112%+0.0100%8h$104.4M$67.1M75xas long as short
Kalshi KXZECPERP−0.101%0.0000%8h$995K$6.3M2.2xas long as short
RISEx ZEC/USDC−0.098%+0.0072%1h$832K$2.7M10xas long as short
Pacifica ZEC−0.097%+0.0100%1h$1.7M$3.6M10xas long as short
01 Exchange ZECUSD−0.097%+0.0008%1h$9K$11K5xas long as short
Perpl ZEC−0.093%0.0000%43m$77K$419K10xas long as short
Lighter ZEC−0.092%+0.0096%1h$19.3M$62.1M20xas long as short
Aftermath Perps ZECUSD−0.092%+0.0479%1h$40K$34K10xas long as short
Deribit ZEC_USDC-PERPETUAL−0.091%+0.0076%1h$582K$1.4M25xas long as short
Nado ZEC-PERP−0.082%+0.0100%1h$3.1M$7.7M10xas long as short
GMX ZEC/USD [WBTC.b-USDC]short−0.077%L +0.0092% / S +0.0016%1h$583K—100x
gTrade (Gains Network) ZEC/USD−0.073%L +0.0007% / S −0.0006%1h$5.3M—150xas long as short
HTX ZEC-USDT−0.073%+0.0100%8h$2.5M$30.7M75xas long as short
Lighter RH ZEC−0.058%+0.0216%1h$1.8M$7.9M10xas long as short
Arcus ZEC-USD−0.041%+0.0231%1h$707K$7.1M10xas long as short
dYdX ZEC-USD−0.026%0.0000%1h$419K$108K5xas long as short
edgeX ZECUSDC−0.010%+0.0100%4h$499K$10.7M20xas long as short
Coinbase International ZEC-PERP-INTX−0.003%+0.0360%1h$3.9M$13.1M50xas long as short
Phoenix ZEClong0.000%−0.0004%1h$4.7M$1.7M10x
StandX ZEC-USD+0.001%+0.0100%1h$112K$4.3M30xas long as short
Hotstuff ZEC-PERP+0.069%−0.0080%1h$6K$2K10xas long as short
SunX ZEC-USDT+0.072%+0.0100%8h$3K$1.4M20xas long as short
Injective ZEC/USDC PERP+0.124%−0.3658%1h$34K$13K12xas long as short