Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.029%

Price spread now: Kalshi against Aevo+0.230%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

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

costs, in and out, $10k−$600.598% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.390%−$39 · spread now +0.230%, 7d avg +0.020%

Together, before fees−0.468%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.210% dearer against Aevo than usual: you sell high and buy low (spread +0.230% now, against its 7-day average of +0.020%): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.7 days. At the pace of the last 7 days (−0.078% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ZEC-PERP	1,499.2	0.0104	pay 0.0013% / 1h	15m 55s	$43K	$152K	20x
Short	Kalshi KXZECPERP	1,502.7	0	get 0.0000% / 8h	5h 15m	$1.6M	$4.6M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.230%Rate

Funding earned: −$21.84
Price spread: +0.230% → +0.020%: $21.01
Slippage, 4 orders: −$33.79
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$60.62
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from Aevo: live order book, 28 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 Aevo live order book, 28 min ago	8.31 bp	19.4 bp −$19	30.4 bp −$304	51.9 bp −$5,195	doesn't fit
Sell Kalshi live order book, 3 min ago	6.18 bp	11.2 bp −$11	16.8 bp −$168	doesn't fit	doesn't fit

ZEC on 50 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	−0.3684%	1h	1,478.1	−1.411%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,498	−0.085%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0157%	8h	1,502.3	+0.207%	$30.7M	$75.2M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,499.9	+0.044%	$18.2M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,501.3	+0.134%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−0.807%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,501.2	+0.129%	$417K	$35K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,502.7	+0.230%	$1.6M	$4.6M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.3	+0.138%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0038%	1h	1,500.1	+0.059%	$685K	$1.4M	25x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ZECUSD	+0.0055%	1h	1,491.8	−0.497%	$47K	$64K	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0079%	8h	1,499.3	+0.002%	$302K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,498.5	−0.048%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,499	−0.014%	$12K	$878K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,500.2	+0.064%	$3.0M	$7.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,499.1	−0.008%	$14.0M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501	+0.118%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,499.4	+0.010%	$698.6M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,499.2	−0.003%	$268.2M	$633.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,499.5	+0.014%	$183.2M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,497.5	−0.116%	$410K	$522K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,499.1	−0.008%	$55.1M	$185.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,500	+0.048%	$248.2M	$793.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,499.2	−0.004%	$103.1M	$57.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,498.8	−0.030%	$161.2M	$289.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,498.8	−0.030%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,485.5	−0.914%	$48.4M	$34.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,494.9	−0.290%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.4	−0.123%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,488.1	−0.742%	$410K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,500.6	+0.092%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,498.6	−0.043%	$360K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,498.7	−0.036%	$165K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,500.9	+0.112%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,499.6	+0.020%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,499.8	+0.035%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,499	−0.018%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,501.1	+0.123%	$62K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,499	−0.019%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERPlong	+0.0104%	1h	1,499.2	long leg	$43K	$152K	20x
01 Exchange ZECUSD	+0.0120%	1h	1,502.2	+0.199%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,499.2	−0.003%	$938K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,501.5	+0.150%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0169%	1h	1,499.4	+0.013%	$485K	—	100x	as long as short
Hyperliquid ZEC	+0.0203%	1h	1,500.1	+0.057%	$780.2M	$444.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0211%	1h	1,500.2	+0.065%	$2.4M	$3.9M	15x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,500	+0.048%	$613K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0256%	1h	1,500.6	+0.088%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,500.8	+0.103%	$19.8M	$46.3M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,500.9	+0.108%	$3.7M	$10.1M	50x	as long as short