ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Kalshi against Phemex+0.053%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.716%−$72 · spread now +0.053%, 7d avg −0.006%

Together, before fees−0.737%−$74 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.059% dearer against Phemex than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.006%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 7 days (−0.021% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ZECUSDT	1,461.1	0.0100	pay 0.0100% / 8h	4h 22m	$3.8M	$5.1M	50x
Short	Kalshi KXZECPERP	1,461.9	0	get 0.0000% / 8h	22m 52s	$1.5M	$4.5M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now +0.053%Rate

Funding earned: −$21
Price spread: +0.053% → −0.006%: $5.93
Slippage, 4 orders: −$32.61
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$69.68
Costs to cover: 0.546%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Kalshi: live order book, 1 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 Phemex live order book, 6 min ago	2.47 bp	15.9 bp −$16	32.1 bp −$321	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	6.02 bp	11.0 bp −$11	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	−0.3166%	1h	1,460.6	−0.032%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,460.9	−0.012%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,461.3	+0.014%	$29.3M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.4	+0.023%	$412K	$38K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,461.9	+0.053%	$1.5M	$4.5M	2.2x
Perpl ZEC	0.0000%	43m	1,461.4	+0.020%	$84K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,461.4	+0.022%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,461.3	+0.015%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0068% / S −0.0019%	1h	1,461.3	+0.016%	$411K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,461.2	+0.006%	$8K	$7K	5x	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	1,461.1	−0.003%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,461.4	+0.023%	$11K	$856K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,461	−0.007%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,460.8	−0.023%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.1	+0.137%	$760.5M	$431.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,461.9	+0.056%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,461	−0.006%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,461.9	+0.056%	$671.9M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,461.2	+0.009%	$263.7M	$600.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,461.7	+0.043%	$178.5M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.370%	$396K	$441K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.2	−0.266%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,462.3	+0.081%	$50.8M	$174.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462.2	+0.077%	$215.3M	$773.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,461.7	+0.042%	$102.7M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,462	+0.062%	$166.5M	$271.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,461.4	+0.021%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,462.1	+0.066%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.9	−0.221%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,459.9	−0.080%	$569K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.4	−0.256%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,460.5	−0.039%	$407K	$927K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.7	−0.027%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,461.1	0.000%	$367K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,461	−0.007%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.6	−0.036%	$446K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.6	+0.101%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.6	+0.034%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,460.3	−0.053%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,461.1	long leg	$3.8M	$5.1M	50x
Extended ZEC-USD	+0.0104%	1h	1,462.1	+0.069%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.2	+0.006%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,461.2	+0.005%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0128%	1h	1,462.1	+0.066%	$612K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,461.5	+0.029%	$18.1M	$45.0M	25x	as long as short
Lighter ZEC	+0.0280%	1h	1,463.5	+0.164%	$19.3M	$46.0M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,461.3	+0.013%	$925K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0432%	1h	1,463.7	+0.180%	$2.1M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,464.4	+0.224%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,462.2	+0.076%	$687K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0682%	1h	1,458.7	−0.162%	$45K	$49K	10x	as long as short