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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.0041%/8h= −4.4% APRpaid last 24h +0.040%
Price spread now: Hyperliquid against Kalshi+0.114%46s7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$360.362% of the position
Long on KalshiShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.264%+$26 on $10k
Price spread, last 7 days−0.058%−$6 · spread now +0.114%, 7d avg −0.001%
Together, before fees+0.206%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.115% dearer against Kalshi than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of −0.001%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.264%, so the current rate has only just turned against you. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXZECPERP1,462.40.0187pay 0.0187% / 8h7h 12m$1.5M$4.4M2.2x
ShortHyperliquid ZEC1,464.10.0146get 0.0018% / 1h12m 24s$762.9M$424.9M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
−$8.53
Price spread: +0.114% → −0.001%
$11.48
Slippage, 4 orders
−$17.15
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$33.21
Costs to cover
0.362%
Break-even
never at this rate
Slippage from Kalshi: live order book, 1 min ago; Hyperliquid: live order book, 12 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 1 min ago8.20 bp13.3 bp −$1317.2 bp −$172doesn't fitdoesn't fit
Sell Hyperliquid live order book, 12 min ago0.34 bp4.8 bp −$57.6 bp −$76doesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3042%1h1,461.1−0.094%$34K$272K12xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,463.4+0.063%$6K$1K10xas long as short
BloFin ZEC-USDT−0.0071%8h1,461.9−0.040%$29.6M$70.7M75xas long as short
dYdX ZEC-USD0.0000%1h1,462.8+0.025%$407K$40K5xas long as short
Perpl ZEC0.0000%43m1,463.1+0.048%$84K$239K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,463.9+0.096%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0063%8h1,463.7+0.088%$293K$910K20xas long as short
Ondo Perps ZEC-USD.P+0.0078%1h1,460.4−0.139%$396K$435K5xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0088% / S −0.0039%1h1,463.6+0.081%$436K—100xas long as short
Popdex ZECUSDT+0.0096%1h1,462.9+0.033%$175K$1.6M50xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Katana Perps ZEC-USD+0.0100%8h1,464.1+0.114%$14K$804K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,463+0.040%$60K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,462.3−0.011%$2.9M$6.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,463.9+0.097%$14.6M$27.8M75xas long as short
Pacifica ZEC+0.0100%1h1,462.8+0.027%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,463.9+0.098%$674.0M$2.17B75xas long as short
Bybit ZECUSDT+0.0100%8h1,463.7+0.084%$262.2M$589.7M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,463.8+0.096%$179.5M$1.21B50xas long as short
Bulk ZEC-USD+0.0100%1h1,460.6−0.125%$882K$17K10xas long as short
Gate ZEC_USDT+0.0100%8h1,463.7+0.087%$52.2M$172.7M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,462.6+0.014%$220.2M$772.9M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,463.3+0.055%$103.1M$53.1M75xas long as short
Bitget ZECUSDT+0.0100%8h1,463+0.040%$166.2M$268.3M75xas long as short
BingX ZEC-USDT+0.0100%8h1,463.7+0.085%—$106.6M—as long as short
Variational Omni ZEC+0.0100%8h1,458.8−0.250%$47.8M$32.5M—as long as short
edgeX ZECUSDC+0.0100%4h1,460.1−0.161%$568K$8.5M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,461.4−0.071%$3.0M$464K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,458.6−0.260%$403K$944K50xas long as short
StandX ZEC-USD+0.0100%1h1,462.1−0.025%$49K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,462.7+0.018%$357K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,463.3+0.059%$161K$186K20xas long as short
Derive ZEC-PERP+0.0100%1h1,460.7−0.120%$446K$504K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,464.2+0.122%$3K$1.1M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,461.7−0.052%$234K$3.2M10xas long as short
HTX ZEC-USDT+0.0100%8h1,461.5−0.068%$2.7M$18.3M75xas long as short
Phemex ZECUSDT+0.0100%8h1,461.8−0.047%$3.8M$4.9M50xas long as short
Extended ZEC-USD+0.0104%1h1,462.9+0.033%$2.8M$7.7M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,461.4−0.068%$47K$151K20xas long as short
Phoenix ZEC+0.0116%1h1,462.7+0.017%$4.7M$1.3M10xas long as short
Lighter RH ZEC+0.0120%1h1,464.3+0.129%$2.1M$7.0M10xas long as short
01 Exchange ZECUSD+0.0120%1h1,463.6+0.078%$8K$7K5xas long as short
Hyperliquid ZECshort+0.0146%1h1,464.1+0.114%$762.9M$424.9M10x
Lighter ZEC+0.0168%1h1,463.5+0.073%$19.4M$45.4M20xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0183%1h1,462.7+0.015%$616K$1.3M25xas long as short
Kalshi KXZECPERPlong+0.0187%8h1,462.4long leg$1.5M$4.4M2.2x
RISEx ZEC/USDC+0.0216%1h1,463.3+0.058%$925K$1.1M10xas long as short
Backpack ZEC_USDC_PERP+0.0284%1h1,462.40.000%$2.4M$3.8M15xas long as short
Kraken Futures PF_ZECUSD+0.0332%1h1,461.6−0.060%$18.1M$45.1M25xas long as short
Arcus ZEC-USD+0.0344%1h1,464.3+0.127%$685K$8.1M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0464%1h1,465.2+0.186%$3.8M$9.1M50xas long as short
Aftermath Perps ZECUSD+0.0687%1h1,461.3−0.077%$45K$49K10xas long as short