ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0230%/8h= −25.2% APRnext payment −$0.29 per $10,000 · paid last 24h −0.058%

Price spread now: Kraken Futures against Phoenix−0.081%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.705%−$70 on $10k

Price spread, last 4 days (all we have)+0.573%+$57 · spread now −0.081%, 7d avg −0.056%

Together, before fees−0.132%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.024% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ZEC	1,484.9	0.0134	pay 0.0017% / 1h	47m 03s	$4.7M	$1.4M	10x
Short	Kraken Futures PF_ZECUSD	1,483.7	−0.0097	pay 0.0012% / 1h	47m 03s	$18.0M	$46.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$48.39
Price spread: −0.081% → −0.056%: −$2.43
Slippage, 4 orders: −$17.63
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$85.44
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; Kraken Futures: 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	1.68 bp	6.4 bp −$6	14.4 bp −$144	120.9 bp −$12.1K	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.38 bp	12.5 bp −$13	15.8 bp −$158	24.8 bp −$2,476	107.4 bp −$53.7K

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	−0.3684%	1h	1,484.2	−0.050%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0118%	8h	1,483.9	−0.070%	$30.7M	$73.8M	75x	as long as short
Bulk ZEC-USD	−0.0097%	1h	1,490.7	+0.386%	$901K	$15K	10x	as long as short
Kraken Futures PF_ZECUSDshort	−0.0097%	1h	1,483.7	−0.081%	$18.0M	$46.5M	25x
Hotstuff ZEC-PERP	−0.0080%	1h	1,483.8	−0.076%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,482.5	−0.161%	$412K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,484.4	−0.037%	$1.6M	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,483.2	−0.115%	$61K	$297K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,483.9	−0.068%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0073%	8h	1,483.4	−0.104%	$298K	$1.1M	20x	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	1,484.6	−0.025%	$158K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,483.7	−0.081%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,484.9	0.000%	$14.1M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,483.7	−0.082%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,485	+0.006%	$691.2M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,485.4	+0.032%	$269.9M	$627.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,485.4	+0.030%	$179.8M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,480.8	−0.277%	$405K	$505K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,484.2	−0.046%	$54.2M	$180.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,484.4	−0.034%	$236.7M	$776.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,484.3	−0.042%	$101.8M	$56.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,485.4	+0.034%	$160.2M	$288.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,483.9	−0.068%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,485.1	+0.009%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,483	−0.131%	$48.4M	$33.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,484.5	−0.026%	$568K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,485.3	+0.026%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,484.3	−0.045%	$411K	$932K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,484	−0.065%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,484	−0.062%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,484.1	−0.055%	$163K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,482.5	−0.162%	$453K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,486.6	+0.112%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,483.9	−0.071%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,483.5	−0.098%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,484.5	−0.029%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,483.3	−0.110%	$61K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,484.2	−0.052%	$11K	$864K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,483.8	−0.078%	$2.7M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,483.8	−0.074%	$44K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,485.3	+0.022%	$8K	$7K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0115%	1h	1,484.1	−0.053%	$706K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0122% / S −0.0108%	1h	1,483.6	−0.090%	$430K	—	100x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,485	+0.008%	$929K	$1.1M	10x	as long as short
Phoenix ZEClong	+0.0134%	1h	1,484.9	long leg	$4.7M	$1.4M	10x
Hyperliquid ZEC	+0.0165%	1h	1,486.1	+0.079%	$772.0M	$440.6M	10x	as long as short
Aftermath Perps ZECUSD	+0.0206%	1h	1,486.3	+0.091%	$48K	$63K	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,486	+0.074%	$625K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,485.4	+0.030%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0328%	1h	1,485.3	+0.029%	$19.4M	$45.5M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,484	−0.065%	$3.6M	$9.9M	50x	as long as short