Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0409%/8h= +44.8% APRpaid last 24h +0.038%

Price spread now: RISEx against Kalshi+0.129%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.289%+$29 on $10k

Price spread, last 7 days−0.168%−$17 · spread now +0.129%, 7d avg −0.010%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and RISEx is 0.139% dearer against Kalshi than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,450.2	0	get 0.0000% / 8h	1h 05m	$1.4M	$4.6M	2.2x
Short	RISEx ZEC/USDC	1,452.1	0.0409	get 0.0051% / 1h	5m 26s	$830K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.129%Rate

Funding earned: $85.97
Price spread: +0.129% → −0.010%: $13.91
Slippage, 4 orders: −$20.24
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $63.65
Costs to cover: 0.362%
Break-even: 1.8 days

Slippage from Kalshi: live order book, 3 min ago; RISEx: live order book, 3 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, 3 min ago	8.54 bp	13.5 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell RISEx live order book, 3 min ago	1.58 bp	4.6 bp −$5	9.8 bp −$98	doesn't fit	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	−0.3244%	1h	1,435.8	−0.998%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,450.4	+0.008%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,450.1	−0.012%	$29.2M	$70.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,449.9	−0.022%	$408K	$40K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,450.2	long leg	$1.4M	$4.6M	2.2x
Perpl ZEC	0.0000%	43m	1,450.8	+0.039%	$83K	$241K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,450.9	+0.045%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0054%	8h	1,450.8	+0.039%	$290K	$964K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0062% / S −0.0012%	1h	1,450.6	+0.025%	$407K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,450.6	+0.024%	$4.6M	$1.4M	10x	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	1,451.4	+0.079%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,451.1	+0.061%	$11K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.6	+0.092%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,450.9	+0.049%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.2	+0.136%	$755.1M	$434.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,451	+0.054%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451	+0.053%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,451	+0.051%	$664.3M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,450.7	+0.034%	$262.4M	$605.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,451.1	+0.059%	$177.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,449	−0.085%	$395K	$440K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.498%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,450.8	+0.041%	$49.8M	$176.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,451	+0.054%	$219.0M	$782.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451.5	+0.086%	$102.0M	$55.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,451.4	+0.078%	$161.7M	$272.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,451.2	+0.063%	—	$96.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,450.7	+0.033%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,449.4	−0.057%	$47.3M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,452	+0.125%	$565K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,453.8	+0.249%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,453.1	+0.194%	$409K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.3	+0.143%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,450.8	+0.039%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,450.9	+0.047%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,449.9	−0.025%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,453.9	+0.250%	$4K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,450.2	−0.001%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,449.5	−0.048%	$2.7M	$18.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,450.3	+0.003%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,450.9	+0.043%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,450.9	+0.049%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,451.5	+0.086%	$8K	$7K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0191%	1h	1,451.7	+0.101%	$609K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,450.1	−0.010%	$18.0M	$44.7M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,452	+0.123%	$19.0M	$46.8M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,453.3	+0.215%	$723K	$8.4M	10x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,452.6	+0.166%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDCshort	+0.0409%	1h	1,452.1	+0.129%	$830K	$1.0M	10x
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,451.6	+0.097%	$3.7M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0684%	1h	1,453.9	+0.252%	$44K	$49K	10x	as long as short