Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0448%/8h= +49.1% APRpaid last 24h +0.104%

Price spread now: Coinbase International against Kalshi+0.107%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.691%+$69 · spread now +0.107%, 7d avg +0.106%

Together, before fees+0.789%+$79 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.106%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,451.3	0	get 0.0000% / 8h	42m 56s	$1.5M	$4.4M	2.2x
Short	Coinbase International ZEC-PERP-INTX	1,452.9	0.0448	get 0.0056% / 1h	42m 56s	$3.8M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. 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 KalshibpFee Coinbase InternationalbpOrdersPrice spread, now +0.107%Rate

Funding earned: $94.08
Price spread: +0.107% → +0.106%: $0.15
Slippage, 4 orders: −$30.03
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $44.2
Costs to cover: 0.500%
Break-even: 3.7 days

Slippage from Kalshi: live order book, 1 min ago; Coinbase International: 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 Kalshi live order book, 1 min ago	7.38 bp	12.4 bp −$12	16.5 bp −$165	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.41 bp	12.7 bp −$13	17.6 bp −$176	45.0 bp −$4,497	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 PERP	−0.3166%	1h	1,451.5	+0.010%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,451.9	+0.038%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,450.3	−0.071%	$29.2M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,451.1	−0.013%	$409K	$40K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,451.3	long leg	$1.5M	$4.4M	2.2x
Perpl ZEC	0.0000%	43m	1,450.6	−0.050%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,450.4	−0.062%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0059%	8h	1,450.4	−0.062%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0065% / S −0.0016%	1h	1,450.2	−0.080%	$408K	—	100x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,450.7	−0.039%	$8K	$7K	5x	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	1,450.8	−0.037%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,450.7	−0.044%	$11K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,450.9	−0.028%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,450.7	−0.042%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,451.3	−0.001%	$754.7M	$434.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,450.6	−0.046%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,450.9	−0.027%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,450.2	−0.074%	$665.6M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,449.8	−0.105%	$260.9M	$602.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,450.3	−0.070%	$177.0M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,448.7	−0.180%	$394K	$444K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,450.7	−0.042%	$875K	$29K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,450.2	−0.076%	$49.9M	$173.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,450.2	−0.079%	$215.2M	$769.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,450.3	−0.072%	$102.0M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,450.3	−0.071%	$164.6M	$274.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,450.2	−0.078%	—	$101.1M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,450.9	−0.029%	$2.4M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,447.3	−0.274%	$47.4M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,447.5	−0.264%	$563K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,450.6	−0.051%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,449.9	−0.098%	$403K	$921K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,451.4	+0.003%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,450.2	−0.076%	$365K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,450.4	−0.063%	$159K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,449.3	−0.139%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,453	+0.119%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,450.6	−0.051%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,449.5	−0.123%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,450.5	−0.057%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,449.8	−0.106%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,450.1	−0.083%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,451.4	+0.006%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0237%	1h	1,451	−0.021%	$609K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0278%	1h	1,450.6	−0.049%	$18.0M	$44.9M	25x	as long as short
Lighter ZEC	+0.0320%	1h	1,451.9	+0.039%	$19.1M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,450.9	−0.026%	$920K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0448%	1h	1,452.9	+0.107%	$3.8M	$9.0M	50x
Lighter RH ZEC	+0.0464%	1h	1,452.4	+0.077%	$2.0M	$6.9M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,450.1	−0.086%	$738K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0667%	1h	1,450	−0.089%	$44K	$49K	10x	as long as short