Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.3165%/8h= +346.6% APRpaid last 24h +0.630%

Price spread now: Kalshi against Injective+0.041%7-day average −0.048% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+2.314%+$231 on $10k

Price spread, last 4 days (all we have)−0.791%−$79 · spread now +0.041%, 7d avg −0.048%

Together, before fees+1.523%+$152 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$95 a day on $10k at the current rate, and Kalshi is 0.089% dearer against Injective than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZEC/USDC PERP	1,463	−0.3042	get 0.0380% / 1h	1m 18s	$34K	$272K	12x
Short	Kalshi KXZECPERP	1,463.6	0.0123	get 0.0123% / 8h	7h 01m	$1.5M	$4.4M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Injective. 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 InjectivebpFee KalshibpOrdersPrice spread, now +0.041%Rate

Funding earned: $664.63
Price spread: +0.041% → −0.048%: $8.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $663.51
Costs to cover: 0.100%
Break-even: 0.0 days

Slippage unknown: Injective: live order book, 53 min ago; Kalshi: live order book, 2 min ago. Net counts fees only.

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 Injective live order book, 53 min ago	59.94 bp	489790.2 bp −$489.8K	4955541.0 bp −$49.56M	49325324.0 bp −$4932.53M	245805328.0 bp −$122902.66M
Sell Kalshi live order book, 2 min ago	7.07 bp	12.1 bp −$12	18.9 bp −$189	doesn't fit	doesn't fit

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 PERPlong	−0.3042%	1h	1,463	long leg	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.4	−0.044%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0072%	8h	1,463.3	+0.018%	$29.7M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462	−0.069%	$406K	$37K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,462.9	−0.008%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.7	+0.049%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,464.3	+0.087%	$293K	$900K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0071%	1h	1,464.3	+0.090%	$397K	$436K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0090% / S −0.0042%	1h	1,463.8	+0.053%	$437K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,463.3	+0.019%	$174K	$1.6M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,464.2	+0.085%	$14K	$799K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.8	−0.011%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,463.7	+0.048%	$2.9M	$6.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.7	+0.113%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.1	+0.004%	$1.7M	$2.3M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.7	+0.114%	$675.1M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,464.1	+0.075%	$261.8M	$585.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,464.1	+0.078%	$178.8M	$1.21B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,462.8	−0.013%	$884K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,463.7	+0.048%	$52.6M	$174.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,464.5	+0.100%	$217.9M	$777.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.5	+0.105%	$103.2M	$52.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.7	+0.118%	$166.5M	$267.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,462.9	−0.008%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,465.8	+0.195%	$48.1M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463.2	+0.017%	$569K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,465.7	+0.187%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,463	+0.002%	$404K	$921K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462	−0.070%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.5	+0.035%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.6	+0.044%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.3	+0.022%	$447K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,466.1	+0.210%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,464.4	+0.098%	$234K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.5	−0.033%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.3	+0.091%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,464.5	+0.103%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,464.2	+0.081%	$47K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,463.3	+0.021%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0116%	1h	1,463.3	+0.018%	$4.7M	$1.3M	10x	as long as short
Kalshi KXZECPERPshort	+0.0123%	8h	1,463.6	+0.041%	$1.5M	$4.4M	2.2x
Lighter RH ZEC	+0.0128%	1h	1,465.9	+0.202%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0139%	1h	1,465.1	+0.143%	$617K	$1.3M	25x	as long as short
Hyperliquid ZEC	+0.0147%	1h	1,465	+0.137%	$763.3M	$419.6M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,465.9	+0.197%	$19.3M	$45.8M	20x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,463.4	+0.025%	$925K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0313%	1h	1,465.1	+0.144%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,464.4	+0.099%	$18.0M	$45.6M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,464.4	+0.094%	$673K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,466.1	+0.210%	$3.8M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0684%	1h	1,464.4	+0.094%	$45K	$49K	10x	as long as short