Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.001%

Price spread now: Ondo Perps against Kalshi−0.039%7-day average −0.084% · you buy dearer than you sell

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

Long on Kalshi Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 4 days (all we have)+0.228%+$23 · spread now −0.039%, 7d avg −0.084%

Together, before fees+0.380%+ Points / potential airdropOndo Perps: Active · farm board+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.044% dearer against Kalshi than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.084%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 24 hours. Mind the row above: over the last 7 days funding on this pair paid +0.151%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,495.8	0	get 0.0000% / 8h	48m 19s	$1.5M	$4.9M	2.2x
Short	Ondo Perps ZEC-USD.P	1,495.2	−0.0149	pay 0.0019% / 1h	48m 19s	$407K	$480K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$31.25
Price spread: −0.039% → −0.084%: $4.45
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$41.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 3 min ago; Ondo Perps: 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, 3 min ago	8.15 bp	13.2 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 exchanges

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	−0.3418%	1h	1,485.9	−0.663%	$36K	$267K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,497.5	+0.116%	$63K	$296K	10x	as long as short
Aftermath Perps ZECUSD	−0.0260%	1h	1,498.8	+0.203%	$47K	$76K	10x	as long as short
BloFin ZEC-USDT	−0.0178%	8h	1,494.5	−0.084%	$31.9M	$71.8M	75x	as long as short
Ondo Perps ZEC-USD.Pshort	−0.0149%	1h	1,495.2	−0.039%	$407K	$480K	5x
Hotstuff ZEC-PERP	−0.0080%	1h	1,499.7	+0.263%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,499.1	+0.223%	$413K	$29K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,499.3	+0.235%	$8K	$6K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,495.8	long leg	$1.5M	$4.9M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,498.9	+0.205%	$5.3M	—	150x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0056%	8h	1,499.2	+0.226%	$303K	$652K	20x	as long as short
Phoenix ZEC	+0.0064%	1h	1,501.3	+0.370%	$4.8M	$1.3M	10x	as long as short
ApeX Omni ZECUSDT	+0.0070%	1h	1,496.5	+0.046%	$408K	$959K	50x	as long as short
RISEx ZEC/USDC	+0.0083%	1h	1,499	+0.215%	$906K	$1.3M	10x	as long as short
Aster ZECUSDT	+0.0084%	8h	1,498.7	+0.196%	$14.3M	$25.5M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,500.7	+0.328%	$20.2M	$37.3M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,500	+0.283%	$2.1M	$7.0M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,498.9	+0.209%	$168K	$1.3M	50x	as long as short
Katana Perps ZEC-USD	+0.0099%	8h	1,498.6	+0.186%	$25K	$857K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,499.5	+0.245%	$62K	$14K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,499.6	+0.253%	$3.1M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,499.4	+0.240%	$791.5M	$418.8M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,499.5	+0.246%	$1.5M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,498.9	+0.205%	$701.4M	$2.12B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,498.9	+0.208%	$274.6M	$577.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,499.1	+0.218%	$185.7M	$1.25B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,500	+0.282%	$601K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,501.7	+0.394%	$777K	$182K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,498.8	+0.202%	$64.8M	$163.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,499.1	+0.218%	$179.5M	$799.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,498.9	+0.205%	$105.5M	$50.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,499.1	+0.223%	$163.9M	$269.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,498.9	+0.211%	—	$118.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,495.5	−0.021%	$2.2M	$3.6M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,496.2	+0.025%	$49.4M	$32.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.2	+0.029%	$547K	$8.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,496.9	+0.074%	$3.1M	$642K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,494.6	−0.079%	$111K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,498.3	+0.168%	$367K	$1.4M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,498.8	+0.202%	$168K	$188K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,498.5	+0.184%	$391K	$494K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,501.4	+0.377%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,499.2	+0.228%	$257K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,493.9	−0.128%	$2.7M	$20.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495.8	+0.001%	$4.0M	$4.7M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,499.1	+0.220%	$2.7M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,498.6	+0.189%	$37K	$163K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0178%	1h	1,499.5	+0.246%	$18.6M	$45.2M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0205% / S −0.0226%	1h	1,498.6	+0.190%	$348K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0370%	1h	1,500.2	+0.292%	$693K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0392%	1h	1,500.5	+0.318%	$4.0M	$9.3M	50x	as long as short