Funding you earn now, next payment 03:00 UTC−0.0377%/8h= −41.3% APRpaid last 24h −0.023%
Price spread now: Kalshi against Deribit−0.101%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$400.401% of the position
Funding, last 7 days−0.059%−$6 on $10k
+Price spread, last 4 days (all we have)−1.354%−$135 · spread now −0.101%, 7d avg −0.046%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kalshi is 0.055% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.059% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ZEC_USDC-PERPETUAL | 1,456.7 | 0.0377 | pay 0.0047% / 1h | 26m 00s | $612K | $1.3M | 25x |
| Short | Kalshi KXZECPERP | 1,455.2 | 0 | get 0.0000% / 8h | 1h 26m | $1.5M | $5.1M | 2.2x |
Deribit ZEC_USDC-PERPETUAL
Kalshi KXZECPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$79.18
- Price spread: −0.101% → −0.046%
- −$5.52
- Slippage, 4 orders
- −$23.13
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$124.82
- Costs to cover
- 0.401%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 3 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 Deribit live order book, 3 min ago | 3.84 bp | 7.3 bp −$7 | 13.2 bp −$132 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 3 min ago | 7.72 bp | 12.7 bp −$13 | 17.8 bp −$178 | 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 | −0.3244% | 1h | 1,457.3 | +0.041% | $34K | $272K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0083% | 8h | 1,455.2 | −0.103% | $29.1M | $70.9M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,454.8 | −0.128% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,454.5 | −0.151% | $410K | $43K | 5x | as long as short |
| Kalshi KXZECPERPshort | 0.0000% | 8h | 1,455.2 | −0.101% | $1.5M | $5.1M | 2.2x | |
| Perpl ZEC | 0.0000% | 43m | 1,454.5 | −0.152% | $83K | $243K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,455.3 | −0.092% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0045% | 8h | 1,456 | −0.047% | $291K | $969K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0061% / S −0.0011% | 1h | 1,455.1 | −0.111% | $408K | — | 100x | as long as short |
| Phoenix ZEC | +0.0074% | 1h | 1,459.6 | +0.198% | $4.6M | $1.4M | 10x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
dYdX ZEC-USD
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Phoenix ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ZECUSDT | +0.0094% | 1h | 1,456.7 | +0.001% | $410K | $911K | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.7 | −0.136% | $173K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,455.6 | −0.075% | $23K | $862K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,454.9 | −0.120% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,455 | −0.115% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,457.9 | +0.084% | $763.0M | $438.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,455.9 | −0.050% | $14.4M | $28.3M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,454.8 | −0.129% | $1.7M | $2.6M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,456.6 | −0.002% | $667.2M | $2.26B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,456.3 | −0.025% | $266.0M | $605.5M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,456.7 | +0.004% | $178.5M | $1.23B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,454.2 | −0.170% | $395K | $431K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,451.2 | −0.374% | $879K | $21K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,456 | −0.046% | $49.5M | $173.8M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,457 | +0.021% | $213.5M | $776.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,455.8 | −0.059% | $102.0M | $56.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,456.9 | +0.015% | $161.9M | $274.2M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,454.6 | −0.142% | — | $6.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,456.6 | −0.007% | $2.4M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,455 | −0.118% | $47.0M | $32.4M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,457 | +0.024% | $567K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,456.5 | −0.013% | $3.0M | $432K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,455.3 | −0.092% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.4 | −0.156% | $331K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,455.1 | −0.106% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,454.6 | −0.143% | $444K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,457.2 | +0.033% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,455.9 | −0.051% | $233K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,454 | −0.181% | $2.6M | $18.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,456.1 | −0.043% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,456.6 | −0.008% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,455.7 | −0.068% | $47K | $153K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0136% | 1h | 1,455.2 | −0.099% | $8K | $7K | 5x | as long as short |
| Lighter ZEC | +0.0192% | 1h | 1,457.4 | +0.048% | $19.1M | $46.6M | 20x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0196% | 1h | 1,455.9 | −0.052% | $18.0M | $44.6M | 25x | as long as short |
| Arcus ZEC-USD | +0.0277% | 1h | 1,456.5 | −0.012% | $712K | $8.5M | 10x | as long as short |
| Lighter RH ZEC | +0.0352% | 1h | 1,457.8 | +0.079% | $2.0M | $6.9M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUALlong | +0.0377% | 1h | 1,456.7 | long leg | $612K | $1.3M | 25x | |
| RISEx ZEC/USDC | +0.0409% | 1h | 1,455.2 | −0.100% | $832K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0456% | 1h | 1,456.1 | −0.037% | $3.7M | $9.1M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0692% | 1h | 1,455.9 | −0.053% | $45K | $49K | 10x | as long as short |
ApeX Omni ZECUSDT
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
Lighter ZEC
Kraken Futures PF_ZECUSD
Arcus ZEC-USD
Lighter RH ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD