Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%

Price spread now: Kalshi against dYdX+0.142%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1101.098% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)+0.309%+$31 · spread now +0.142%, 7d avg +0.026%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.116% dearer against dYdX than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of +0.026%): +$12 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 37 days. At the pace of the last 7 days (−0.140% in total) that is about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEC-USD	1,499.9	0.0010	pay 0.0001% / 1h	19m 21s	$413K	$34K	5x
Short	Kalshi KXZECPERP	1,502.1	0	get 0.0000% / 8h	2h 19m	$1.5M	$4.9M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now +0.142%Rate

Funding earned: −$2.18
Price spread: +0.142% → +0.026%: $11.61
Slippage, 4 orders: −$89.79
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$100.37
Costs to cover: 1.098%
Break-even: never at this rate

Slippage from dYdX: live order book, 32 min ago; Kalshi: 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 dYdX live order book, 32 min ago	37.84 bp	42.8 bp −$43	89.4 bp −$894	144.2 bp −$14.4K	691.7 bp −$345.9K
Sell Kalshi live order book, 2 min ago	7.06 bp	12.1 bp −$12	19.4 bp −$194	doesn't fit	doesn't fit

ZEC on 50 exchanges

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	−0.3772%	1h	1,480	−1.329%	$36K	$274K	12x	as long as short
BloFin ZEC-USDT	−0.0186%	8h	1,502.2	+0.153%	$31.6M	$75.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0119%	1h	1,501.2	+0.084%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,500.8	+0.056%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0052%	1h	1,498.6	−0.088%	$408K	$507K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,501.3	+0.092%	$8K	$6K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,502.1	+0.142%	$1.5M	$4.9M	2.2x
Perpl ZEC	0.0000%	43m	1,500.2	+0.018%	$62K	$298K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501	+0.070%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0009%	1h	1,501.1	+0.080%	$18.4M	$47.0M	25x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ZEC-USDlong	+0.0010%	1h	1,499.9	long leg	$413K	$34K	5x
Orderly PERP_ZEC_USDC	+0.0075%	8h	1,500.1	+0.012%	$303K	$857K	20x	as long as short
RISEx ZEC/USDC	+0.0077%	1h	1,500.5	+0.038%	$922K	$1.3M	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,502.2	+0.153%	$19.7M	$41.2M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,502.4	+0.165%	$2.1M	$7.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,501.1	+0.077%	$173K	$1.6M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,500.9	+0.065%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,501.2	+0.087%	$19K	$879K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,501.4	+0.100%	$3.1M	$7.2M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,501.8	+0.125%	$787.4M	$430.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,500.7	+0.053%	$14.1M	$27.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501.5	+0.108%	$1.7M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,501.1	+0.081%	$707.5M	$2.24B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,500.7	+0.050%	$275.5M	$595.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,500.6	+0.043%	$184.9M	$1.32B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,502.1	+0.143%	$597K	$8.6M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.1	−0.391%	$775K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,501.1	+0.078%	$61.8M	$184.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,501.2	+0.082%	$175.0M	$849.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,501.3	+0.089%	$105.0M	$54.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,500.8	+0.059%	$163.7M	$285.4M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,501.1	+0.079%	—	$123.0M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,500.8	+0.061%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.2	+0.088%	$49.5M	$34.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,501.8	+0.124%	$549K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,501.7	+0.121%	$3.1M	$566K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,501.8	+0.125%	$410K	$958K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,500.5	+0.037%	$112K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,501	+0.072%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,501.1	+0.079%	$167K	$187K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,503.3	+0.222%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,500.7	+0.052%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,500.7	+0.051%	$2.6M	$20.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,500.9	+0.062%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,500.7	+0.050%	$2.7M	$7.4M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,500.5	+0.040%	$37K	$163K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0120%	1h	1,501.4	+0.096%	$687K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0139%	1h	1,502.9	+0.201%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0163%	1h	1,501.1	+0.077%	$372K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0336%	1h	1,502	+0.141%	$3.9M	$9.7M	50x	as long as short