Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.020%

Price spread now: SoDEX against Kalshi−0.021%7-day average −0.018% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+1.377%+$138 · spread now −0.021%, 7d avg −0.018%

Together, before fees+1.456%+$146 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,506.3	0	get 0.0000% / 8h	3h 32m	$1.6M	$5.0M	2.2x
Short	SoDEX ZEC-USD	1,506	0.0100	get 0.0013% / 1h	32m 24s	$255K	$3.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $21
Price spread: −0.021% → −0.018%: −$0.3
Slippage, 4 orders: −$18.04
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.34
Costs to cover: 0.360%
Break-even: 12.1 days

Slippage from Kalshi: live order book, 1 min ago; SoDEX: 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	7.50 bp	12.5 bp −$13	19.6 bp −$196	doesn't fit	doesn't fit
Sell SoDEX live order book, 2 min ago	0.80 bp	6.1 bp −$6	17.5 bp −$175	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	−0.3702%	1h	1,491.4	−0.987%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.9	−0.226%	$62K	$305K	10x	as long as short
Aftermath Perps ZECUSD	−0.0203%	1h	1,507	+0.049%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0155%	8h	1,505.7	−0.036%	$31.8M	$76.5M	75x	as long as short
Bulk ZEC-USD	−0.0098%	1h	1,506.5	+0.017%	$775K	$147K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,505.9	−0.027%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,506.1	−0.011%	$418K	$34K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,506.3	long leg	$1.6M	$5.0M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,505.5	−0.052%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,505.8	−0.035%	$18.3M	$48.0M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0032%	1h	1,505.9	−0.023%	$8K	$6K	5x	as long as short
Gate ZEC_USDT	+0.0054%	8h	1,504	−0.152%	$60.4M	$185.5M	75x	as long as short
Phoenix ZEC	+0.0082%	1h	1,507	+0.048%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0085%	8h	1,503.9	−0.159%	$304K	$861K	20x	as long as short
ApeX Omni ZECUSDT	+0.0095%	1h	1,507.1	+0.054%	$414K	$952K	50x	as long as short
Lighter ZEC	+0.0096%	1h	1,507.1	+0.057%	$19.5M	$44.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,507.2	+0.060%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,504.2	−0.136%	$172K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,506.1	−0.012%	$62K	$17K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,505.1	−0.077%	$17K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,504.5	−0.119%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,504.5	−0.118%	$787.7M	$446.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.5	−0.182%	$14.1M	$30.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,506.3	+0.004%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,504.4	−0.125%	$710.5M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,504	−0.155%	$269.7M	$625.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,503.8	−0.167%	$185.1M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,501.6	−0.311%	$411K	$557K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,506.8	+0.036%	$608K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,504.5	−0.118%	$406.7M	$834.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,504.1	−0.147%	$102.7M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,504.1	−0.146%	$162.7M	$295.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,503.5	−0.185%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,506.9	+0.044%	$49.9M	$35.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,506.7	+0.030%	$556K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,506.8	+0.032%	$3.1M	$533K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,505.6	−0.047%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,504.4	−0.125%	$373K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,504.2	−0.138%	$168K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,506.3	−0.001%	$450K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,508.2	+0.124%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDshort	+0.0100%	1h	1,506	−0.021%	$255K	$3.6M	10x
HTX ZEC-USDT	+0.0100%	8h	1,504.8	−0.100%	$2.7M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,506.2	−0.009%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,506	−0.019%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.9	−0.155%	$44K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,505.9	−0.025%	$967K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0159% / S −0.0163%	1h	1,504.2	−0.137%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0221%	1h	1,506.4	+0.007%	$689K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0362%	1h	1,506	−0.016%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,506.7	+0.029%	$3.8M	$10.0M	50x	as long as short