Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.001%

Price spread now: Kalshi against Ondo Perps+0.886%7-day average +0.084% · you sell dearer than you buy

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

Long on Ondo Perps Short on Kalshi

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)−1.075%−$108 · spread now +0.886%, 7d avg +0.084%

Together, before fees−1.227%+ Points / potential airdropOndo Perps: Active · farm board−$123 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.802% dearer against Ondo Perps than usual: you sell high and buy low: +$80 more if the spread goes back to its 7-day average of +0.084%. Mind the row above: over the last 7 days funding on this pair cost −0.151%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ZEC-USD.P	1,517.6	−0.0057	get 0.0007% / 1h	8m 31s	$413K	$489K	5x
Short	Kalshi KXZECPERP	1,531.1	0	get 0.0000% / 8h	8m 31s	$1.6M	$5.0M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Ondo Perps. 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 Ondo PerpsbpFee KalshibpOrdersPrice spread, now +0.886%Rate

Funding earned: $11.93
Price spread: +0.886% → +0.084%: $80.23
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $77.16
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Kalshi: live order book, 3 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	2.16 bp	7.2 bp −$7	16.9 bp −$169	doesn't fit	doesn't fit

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	1,497.6	−1.319%	$37K	$267K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,533	+1.015%	$64K	$293K	10x	as long as short
BloFin ZEC-USDT	−0.0200%	8h	1,531.5	+0.916%	$32.6M	$72.3M	75x	as long as short
Aftermath Perps ZECUSD	−0.0085%	1h	1,525.4	+0.514%	$47K	$79K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,514.4	−0.213%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.Plong	−0.0057%	1h	1,517.6	long leg	$413K	$489K	5x
dYdX ZEC-USD	0.0000%	1h	1,533.3	+1.038%	$422K	$30K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,531.1	+0.886%	$1.6M	$5.0M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,534.6	+1.122%	$5.4M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0054%	8h	1,530.2	+0.828%	$313K	$656K	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0064%	1h	1,524.6	+0.464%	$4.9M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,535.7	+1.193%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0083%	1h	1,534.6	+1.122%	$902K	$1.3M	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,536	+1.215%	$20.0M	$39.6M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,536.2	+1.226%	$2.1M	$7.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,535	+1.149%	$172K	$1.2M	50x	as long as short
Bulk ZEC-USD	+0.0098%	1h	1,523.8	+0.408%	$789K	$82K	10x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,534.3	+1.100%	$22K	$854K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,535.3	+1.169%	$63K	$13K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,529.4	+0.778%	$3.2M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,536.3	+1.232%	$817.2M	$395.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,534.7	+1.125%	$14.6M	$24.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,535	+1.149%	$1.5M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,534.6	+1.122%	$720.6M	$2.09B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,535	+1.149%	$287.9M	$570.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,534.4	+1.104%	$192.7M	$1.25B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,535.3	+1.165%	$598K	$8.6M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,535	+1.145%	$67.0M	$170.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,534.7	+1.127%	$188.7M	$825.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,534.9	+1.137%	$112.0M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,534.8	+1.131%	$167.1M	$264.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,534.4	+1.106%	—	$6.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,525.5	+0.518%	$50.4M	$31.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,523.1	+0.366%	$557K	$8.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,526.4	+0.582%	$3.1M	$682K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,525.6	+0.528%	$416K	$929K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,530.4	+0.845%	$114K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,535	+1.147%	$437K	$1.5M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,535.4	+1.174%	$169K	$189K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,529.8	+0.803%	$368K	$489K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,534.3	+1.098%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,533	+1.013%	$256K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,530	+0.817%	$2.8M	$19.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,531.4	+0.908%	$4.2M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,534.7	+1.129%	$2.8M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,530.5	+0.853%	$35K	$163K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0132%	1h	1,532.9	+1.007%	$2.2M	$3.6M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0174%	1h	1,532.1	+0.958%	$18.9M	$45.7M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0215% / S −0.0238%	1h	1,530.1	+0.825%	$343K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0392%	1h	1,534	+1.083%	$4.0M	$9.3M	50x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0423%	1h	1,532.1	+0.956%	$708K	$1.2M	25x	as long as short