Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h +0.024%

Price spread now: Kalshi against Kraken Futures+0.064%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on Kraken Futures Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.228%+$23 on $10k

Price spread, last 4 days (all we have)−0.543%−$54 · spread now +0.064%, 7d avg −0.007%

Together, before fees−0.315%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.071% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of −0.007%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 33 hours. Mind the row above: over the last 7 days funding on this pair paid +0.228%, 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	Kraken Futures PF_ZECUSD	1,456.2	0.0333	pay 0.0042% / 1h	25m 03s	$18.0M	$45.3M	25x
Short	Kalshi KXZECPERP	1,457.1	0.0162	get 0.0162% / 8h	7h 25m	$1.5M	$4.4M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Kraken Futures. 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 Kraken FuturesbpFee KalshibpOrdersPrice spread, now +0.064%Rate

Funding earned: −$35.94
Price spread: +0.064% → −0.007%: $7.1
Slippage, 4 orders: −$25.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$74.8
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Kalshi: 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 Kraken Futures live order book, 4 min ago	1.82 bp	8.5 bp −$9	10.3 bp −$103	17.5 bp −$1,747	110.1 bp −$55.1K
Sell Kalshi live order book, 3 min ago	8.52 bp	13.6 bp −$14	18.1 bp −$181	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	−0.3042%	1h	1,458	+0.124%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.8	+0.043%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,456.5	+0.021%	$29.4M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	+0.009%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,456.7	+0.037%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.3	+0.004%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,455.9	−0.022%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0084% / S −0.0035%	1h	1,456.1	−0.004%	$434K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.6	+0.029%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.8	+0.039%	$14K	$820K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.6	+0.031%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.7	+0.032%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.4	+0.011%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.9	+0.052%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.5	+0.024%	$670.3M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,455.7	−0.035%	$260.8M	$599.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.1	−0.003%	$178.8M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.033%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.159%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.1	−0.005%	$51.4M	$171.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.5	+0.020%	$218.5M	$770.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.2	+0.001%	$102.8M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.6	+0.028%	$165.7M	$269.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.3	+0.006%	—	$106.8M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.050%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.2	−0.001%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.022%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.4	+0.017%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.6	+0.026%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.3	+0.008%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.2	+0.002%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.9	−0.089%	$444K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.9	+0.188%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.2	+0.003%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.034%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.5	+0.018%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,455.8	−0.026%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.9	−0.017%	$47K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,457.9	+0.114%	$2.1M	$7.0M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.6	+0.094%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,457.2	+0.068%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0144%	1h	1,457.8	+0.110%	$19.2M	$45.0M	20x	as long as short
Hyperliquid ZEC	+0.0145%	1h	1,457.6	+0.097%	$758.9M	$426.3M	10x	as long as short
Kalshi KXZECPERPshort	+0.0162%	8h	1,457.1	+0.064%	$1.5M	$4.4M	2.2x
Backpack ZEC_USDC_PERP	+0.0182%	1h	1,456.9	+0.051%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.8	+0.043%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0251%	1h	1,456.7	+0.033%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSDlong	+0.0333%	1h	1,456.2	long leg	$18.0M	$45.3M	25x
Arcus ZEC-USD	+0.0344%	1h	1,458.4	+0.151%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.9	+0.186%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0674%	1h	1,456.5	+0.025%	$45K	$49K	10x	as long as short