Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.038%

Price spread now: Extended against Kalshi+0.191%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 7 days−0.244%−$24 · spread now +0.191%, 7d avg −0.067%

Together, before fees−0.136%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 0.258% dearer against Kalshi than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,514.6	0	get 0.0000% / 8h	3h 52m	$1.6M	$5.0M	2.2x
Short	Extended ZEC-USD	1,517.5	0.0104	get 0.0013% / 1h	52m 30s	$2.8M	$8.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.191%Rate

Funding earned: $21.84
Price spread: +0.191% → −0.067%: $25.75
Slippage, 4 orders: −$19.04
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $13.55
Costs to cover: 0.340%
Break-even: 2.7 days

Slippage from Kalshi: live order book, 1 min ago; Extended: 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 Kalshi live order book, 1 min ago	6.70 bp	11.7 bp −$12	18.4 bp −$184	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.16 bp	6.5 bp −$7	12.2 bp −$122	57.3 bp −$5,730	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	−0.3702%	1h	1,494.3	−1.337%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0463%	1h	1,515.3	+0.047%	$779K	$147K	10x	as long as short
Perpl ZEC	−0.0447%	43m	1,512.8	−0.118%	$62K	$305K	10x	as long as short
BloFin ZEC-USDT	−0.0163%	8h	1,517.2	+0.172%	$31.8M	$77.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0124%	1h	1,514.6	+0.004%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,516.6	+0.137%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,516.4	+0.120%	$421K	$34K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,517.9	+0.218%	$8K	$6K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,514.6	long leg	$1.6M	$5.0M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,516	+0.093%	$5.4M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,514.8	+0.019%	$18.3M	$47.8M	25x	as long as short
Gate ZEC_USDT	+0.0069%	8h	1,517.7	+0.206%	$60.1M	$183.2M	75x	as long as short
Phoenix ZEC	+0.0082%	1h	1,514.7	+0.006%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,514	−0.038%	$306K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,518.2	+0.238%	$19.6M	$44.4M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,518.6	+0.269%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,517.6	+0.201%	$173K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,517.2	+0.175%	$63K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,517	+0.162%	$16K	$901K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,517.8	+0.217%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,517.7	+0.207%	$794.0M	$446.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,516.7	+0.139%	$14.2M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,517.8	+0.215%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,517.7	+0.204%	$717.0M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,516.6	+0.137%	$273.6M	$629.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,517.1	+0.166%	$183.5M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.5	−0.334%	$413K	$553K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,517.6	+0.200%	$597K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,516	+0.092%	$415.3M	$826.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,517.7	+0.207%	$103.6M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,517.2	+0.174%	$163.9M	$294.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,517.5	+0.195%	—	$120.1M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,509.2	−0.355%	$49.7M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,512.9	−0.109%	$580K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,519.6	+0.334%	$3.1M	$519K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,517.6	+0.197%	$417K	$950K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,514.6	+0.001%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,517.6	+0.201%	$377K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,517.2	+0.175%	$169K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,512.3	−0.148%	$452K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.5	+0.126%	$4K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.2	−0.021%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,514	−0.034%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,517	+0.158%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USDshort	+0.0104%	1h	1,517.5	+0.191%	$2.8M	$8.0M	10x
Aevo ZEC-PERP	+0.0104%	1h	1,514.1	−0.032%	$43K	$150K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0134%	1h	1,515.1	+0.037%	$692K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0154%	1h	1,513.9	−0.041%	$336K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,517.7	+0.206%	$967K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,515.1	+0.037%	$3.7M	$9.9M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0468%	1h	1,516.7	+0.138%	$2.4M	$3.8M	15x	as long as short