Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0007%/8h= −0.8% APRpaid last 24h −0.002%

Price spread now: Kalshi against gTrade (Gains Network)+0.336%49s7-day average +0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$2922.925% of the position

Long on gTrade (Gains Network)Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−0.443%−$44 · spread now +0.336%, 7d avg +0.012%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.324% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ZEC/USD	1,463.8	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	57m 19s	$5.2M	—	150x
Short	Kalshi KXZECPERP	1,468.7	0	get 0.0000% / 8h	1h 57m	$972K	$4.7M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KalshibpOrdersPrice spread, now +0.336%Rate

Funding earned: −$1.44
Price spread: +0.336% → +0.012%: $32.41
Slippage, 4 orders: −$272.47
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$261.51
Costs to cover: 2.925%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Kalshi: live order book, 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.04 bp	135.0 bp −$135	426.0 bp −$4,260	4809.1 bp −$480.9K	doesn't fit
Sell Kalshi live order book, 1 min ago	6.20 bp	11.2 bp −$11	17.6 bp −$176	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	1,453.2	−0.721%	$33K	$272K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0175%	1h	1,466.9	+0.214%	$398K	$441K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.446%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,466.6	+0.193%	$413K	$47K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,468.7	+0.336%	$972K	$4.7M	2.2x
Perpl ZEC	0.0000%	43m	1,465.3	+0.105%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USDlong	L +0.0007% / S −0.0006%	1h	1,463.8	long leg	$5.2M	—	150x
Orderly PERP_ZEC_USDC	+0.0033%	8h	1,463.6	−0.012%	$292K	$984K	20x	as long as short
Popdex ZECUSDT	+0.0040%	1h	1,466.3	+0.173%	$173K	$1.8M	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,466.8	+0.208%	$8K	$8K	5x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,464	+0.014%	$383K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,469.6	+0.400%	$4.6M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0078%	1h	1,464.6	+0.055%	$609K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0079%	8h	1,468.1	+0.296%	$48.0M	$32.4M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0095%	8h	1,463.9	+0.005%	$180.4M	$1.24B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,466.2	+0.165%	$16K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.1	+0.224%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.5	+0.051%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,465.5	+0.118%	$763.4M	$435.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,466.1	+0.159%	$14.7M	$28.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.7	+0.199%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.1	+0.021%	$676.8M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,463.7	−0.005%	$271.2M	$605.4M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	+0.192%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,463.8	−0.001%	$50.0M	$169.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463.5	−0.017%	$215.9M	$767.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.4	+0.044%	$102.9M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.2	+0.027%	$162.7M	$275.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,463.9	+0.012%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468	+0.292%	$571K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.2	+0.369%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.2	+0.368%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.9	+0.284%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465.4	+0.111%	$342K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.8	+0.004%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462.3	−0.099%	$446K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,468.8	+0.344%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.5	+0.255%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,466.7	+0.202%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.9	+0.279%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,466.5	+0.184%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.8	0.000%	$48K	$155K	20x	as long as short
Lighter ZEC	+0.0136%	1h	1,467.6	+0.265%	$19.2M	$45.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,467.5	+0.253%	$18.1M	$43.4M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,468.5	+0.321%	$695K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,467.7	+0.266%	$2.1M	$6.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0378%	1h	1,467.8	+0.273%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,467.3	+0.243%	$852K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,468.6	+0.331%	$3.6M	$8.9M	50x	as long as short
Aftermath Perps ZECUSD	+0.0734%	1h	1,468.6	+0.328%	$43K	$46K	10x	as long as short