Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.019%

Price spread now: GMX against Kalshi+0.092%7-day average +0.013% · you sell dearer than you buy

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now +0.092%, 7d avg +0.013%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and GMX is 0.080% dearer against Kalshi than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,471.4	0	get 0.0000% / 8h	4h 42m	$902K	$5.6M	2.2x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,472.7	L +0.0054% / S −0.0010%	get 0.0001% / 1h	42m 41s	$372K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.092%Rate

Funding earned: $2.14
Price spread: +0.092% → +0.013%: $7.96
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$11.9
Costs to cover: 0.220%
Break-even: 46.0 days

Slippage unknown: Kalshi: live order book, 1 min ago; GMX: no order-book sample. 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 Kalshi live order book, 1 min ago	4.38 bp	13.5 bp −$13	20.5 bp −$205	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3089%	1h	1,471.5	+0.007%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,472	+0.040%	$17.9M	$44.3M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0205%	1h	1,470.5	−0.060%	$398K	$516K	5x	as long as short
BloFin ZEC-USDT	−0.0105%	8h	1,472	+0.040%	$29.6M	$75.4M	75x	as long as short
Bybit ZECUSDT	−0.0098%	8h	1,471.2	−0.010%	$274.8M	$657.2M	75x	as long as short
ApeX Omni ZECUSDT	−0.0097%	1h	1,469.5	−0.131%	$431K	$831K	50x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.1	+0.050%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0043%	8h	1,468.6	−0.189%	$46.8M	$33.7M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,472.8	+0.100%	$415K	$104K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,471.4	long leg	$902K	$5.6M	2.2x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,471.2	−0.012%	$84K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.9	+0.101%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0010%	8h	1,472.3	+0.063%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.7	−0.049%	$4.6M	$1.6M	10x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,472.2	+0.054%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0037%	8h	1,472	+0.044%	$180.6M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0045%	8h	1,472.2	+0.054%	$51.4M	$185.6M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0054% / S −0.0010%	1h	1,472.7	+0.092%	$372K	—	100x
Deribit ZEC_USDC-PERPETUAL	+0.0079%	1h	1,473	+0.110%	$614K	$1.3M	25x	as long as short
Lighter ZEC	+0.0096%	1h	1,473.6	+0.149%	$19.1M	$52.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.7	+0.023%	$177K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.8	−0.037%	$13K	$837K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472	+0.039%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.4	+0.136%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.9	+0.103%	$763.6M	$475.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472	+0.043%	$15.1M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472.5	+0.074%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472	+0.039%	$682.5M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,473.2	+0.121%	$720K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472	+0.042%	$908K	$26K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472.1	+0.052%	$229.3M	$834.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,472.1	+0.050%	$103.9M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,472.2	+0.054%	$163.0M	$302.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,471.3	−0.009%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469.5	−0.130%	$513K	$9.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.7	−0.112%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.2	−0.010%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472	+0.042%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.2	+0.058%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.8	−0.040%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.6	+0.084%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.7	+0.022%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.6	+0.018%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.4	+0.070%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.4	+0.073%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.3	+0.065%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,472.5	+0.076%	$826K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,472.6	+0.082%	$3.8M	$10.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0437%	1h	1,473.5	+0.141%	$2.4M	$3.7M	15x	as long as short
Lighter RH ZEC	+0.0520%	1h	1,474	+0.180%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0671%	1h	1,472.8	+0.096%	$46K	$47K	10x	as long as short