Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.011%

Price spread now: Kalshi against 01 Exchange+0.130%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kalshi is 0.130% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.130% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ZECUSD	1,512.7	0.0080	pay 0.0010% / 1h	15m 15s	$8K	$7K	5x
Short	Kalshi KXZECPERP	1,514.6	0	get 0.0000% / 8h	6h 15m	$1.7M	$4.6M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against 01 Exchange. 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 01 ExchangebpFee KalshibpOrdersPrice spread, now +0.130%Rate

Funding earned: −$16.8
Price spread: +0.130% → 0.000%: $13.02
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$20.78
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	8.09 bp	13.1 bp −$13	18.8 bp −$188	doesn't fit	doesn't fit

01 Exchange: 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 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	−0.3243%	1h	1,488.7	−1.587%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0140%	8h	1,511	−0.113%	$30.2M	$74.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,513.2	+0.032%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,512.6	−0.004%	$420K	$36K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,514.6	+0.130%	$1.7M	$4.6M	2.2x
Perpl ZEC	0.0000%	43m	1,511.8	−0.058%	$86K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,511.4	−0.081%	$717K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,511	−0.112%	$5.4M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0065%	8h	1,511	−0.112%	$300K	$984K	20x	as long as short
01 Exchange ZECUSDlong	+0.0080%	1h	1,512.7	long leg	$8K	$7K	5x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,507.5	−0.344%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,512.4	−0.018%	$147K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,512.4	−0.015%	$2.9M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,513.4	+0.048%	$791.2M	$434.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,510.5	−0.146%	$14.7M	$29.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,513.4	+0.048%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,510.6	−0.136%	$700.8M	$2.24B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,511	−0.111%	$277.0M	$616.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,511	−0.111%	$181.5M	$1.30B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,520.5	+0.518%	$411K	$494K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,479.3	−2.207%	$894K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,511.8	−0.061%	$54.4M	$178.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,512.4	−0.016%	$228.6M	$776.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,511.3	−0.088%	$104.0M	$55.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,511.1	−0.105%	$165.4M	$280.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,510.2	−0.162%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,519.3	+0.437%	$49.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.2	−0.164%	$577K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.9	−0.446%	$3.1M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,513	+0.022%	$419K	$928K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,512.2	−0.029%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,512.2	−0.031%	$370K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,511.5	−0.077%	$166K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,510.4	−0.147%	$461K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,512.1	−0.038%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,510.1	−0.169%	$250K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,512.1	−0.040%	$2.6M	$19.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,510.6	−0.138%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,512.1	−0.036%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,512.9	+0.018%	$14K	$847K	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0104% / S −0.0075%	1h	1,510.9	−0.118%	$406K	—	100x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,510.3	−0.154%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,511	−0.113%	$46K	$153K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0142%	1h	1,509.9	−0.183%	$18.4M	$46.0M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,512.3	−0.023%	$944K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0176%	1h	1,511.6	−0.071%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0224%	1h	1,511.5	−0.075%	$19.7M	$45.3M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0464%	1h	1,518.7	+0.397%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,512.4	−0.017%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,512.3	−0.022%	$598K	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0562%	1h	1,501.3	−0.751%	$51K	$60K	10x	as long as short