Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.056%

Price spread now: Kalshi against ApeX Omni+0.197%78s7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs+$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.459% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+1.007%+$101 on $10k

Price spread, last 7 days−0.229%−$23 · spread now +0.197%, 7d avg +0.160%

Together, before fees+0.777%+$78 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.038% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.197% now, against its 7-day average of +0.160%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours. Mind the row above: over the last 7 days funding on this pair paid +1.007%, so the current rate has only just turned against you. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZECUSDT	1,476.6	0.0100	pay 0.0013% / 1h	25m 49s	$406K	$936K	50x
Short	Kalshi KXZECPERP	1,479.5	0	get 0.0000% / 8h	5h 25m	$1.5M	$4.6M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now +0.197%Rate

Funding earned: −$21
Price spread: +0.197% → +0.160%: $3.76
Slippage, 4 orders: −$25.93
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$63.18
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 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 ApeX Omni live order book, 18 min ago	4.76 bp	10.5 bp −$11	32.7 bp −$327	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	7.82 bp	12.8 bp −$13	18.0 bp −$180	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	−0.3684%	1h	1,462	−0.987%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0166%	1h	1,477.1	+0.033%	$892K	$9K	10x	as long as short
BloFin ZEC-USDT	−0.0126%	8h	1,476.8	+0.012%	$30.4M	$73.8M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,481.3	+0.318%	$18.0M	$46.7M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,477.2	+0.037%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,479.5	+0.195%	$411K	$35K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,479.5	+0.197%	$1.5M	$4.6M	2.2x
Perpl ZEC	0.0000%	43m	1,479.2	+0.176%	$62K	$304K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,481.3	+0.316%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0077%	8h	1,480.8	+0.281%	$298K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ZECUSD	+0.0083%	1h	1,477.4	+0.056%	$47K	$64K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,480.6	+0.268%	$165K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,479.7	+0.212%	$10K	$871K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,480.6	+0.271%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,482	+0.363%	$13.8M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,482.7	+0.414%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,482.7	+0.412%	$690.6M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,482.6	+0.406%	$264.9M	$633.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,483	+0.432%	$179.0M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,482.2	+0.379%	$403K	$511K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,482.6	+0.406%	$54.1M	$183.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,483.2	+0.445%	$245.0M	$786.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,482.5	+0.400%	$101.4M	$57.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,482.2	+0.377%	$159.4M	$288.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,482.6	+0.405%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,483.4	+0.459%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,480.4	+0.258%	$48.2M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,477.5	+0.062%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,478.3	+0.118%	$3.0M	$498K	10x	as long as short
ApeX Omni ZECUSDTlong	+0.0100%	1h	1,476.6	long leg	$406K	$936K	50x
StandX ZEC-USD	+0.0100%	1h	1,477.3	+0.046%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,480.6	+0.270%	$356K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,481.1	+0.305%	$163K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.218%	$450K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,481	+0.298%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,481.1	+0.303%	$252K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,480.3	+0.248%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,481.9	+0.356%	$3.9M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,482.6	+0.407%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,483.1	+0.438%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,481.2	+0.314%	$42K	$152K	20x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,481.2	+0.309%	$927K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,478.9	+0.153%	$4.7M	$1.4M	10x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,480.8	+0.282%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0145% / S −0.0154%	1h	1,476.9	+0.020%	$478K	—	100x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,481.5	+0.333%	$638K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,484.4	+0.530%	$2.1M	$7.4M	10x	as long as short
Hyperliquid ZEC	+0.0255%	1h	1,483.4	+0.460%	$769.8M	$442.6M	10x	as long as short
Lighter ZEC	+0.0320%	1h	1,484.2	+0.517%	$19.5M	$45.9M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0360%	1h	1,482.2	+0.377%	$677K	$1.4M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,482.7	+0.414%	$3.6M	$9.9M	50x	as long as short