Funding you earn now, next payment 01:00 UTC+0.0539%/8h= +59.0% APRpaid last 24h +0.038%
Price spread now: Backpack against Kalshi−0.057%7-day average +0.373% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$380.383% of the position
Funding, last 7 days−0.178%−$18 on $10k
+Price spread, last 7 days−0.671%−$67 · spread now −0.057%, 7d avg +0.373%
=Funding pays, the price is against you. Backpack is 0.430% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.373%). If the spread goes back, that is −$43 on $10k: about 2.7 days of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.178% in total (about -9.3% 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 | Kalshi KXZECPERP | 1,472.1 | 0 | get 0.0000% / 8h | 3h 27m | $959K | $5.2M | 2.2x |
| Short | Backpack ZEC_USDC_PERP | 1,471.3 | 0.0539 | get 0.0067% / 1h | 27m 54s | $2.5M | $3.9M | 15x |
Kalshi KXZECPERP
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kalshi. 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
- $113.17
- Price spread: −0.057% → +0.373%
- −$42.96
- Slippage, 4 orders
- −$18.31
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $31.9
- Costs to cover
- 0.383%
- Break-even
- 5.0 days
Slippage from Kalshi: live order book, 1 min ago; Backpack: 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 Kalshi live order book, 1 min ago | 7.50 bp | 12.5 bp −$13 | 17.2 bp −$172 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 0.03 bp | 7.5 bp −$7 | 15.8 bp −$158 | 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 | −0.3321% | 1h | 1,472.4 | +0.016% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0343% | 1h | 1,470.5 | −0.110% | $17.8M | $43.0M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0113% | 1h | 1,467.9 | −0.287% | $399K | $517K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0109% | 8h | 1,470.3 | −0.122% | $29.7M | $73.1M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,472.1 | +0.001% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0053% | 8h | 1,469 | −0.209% | $47.6M | $33.8M | — | as long as short |
| Bybit ZECUSDT | −0.0019% | 8h | 1,470.2 | −0.133% | $274.0M | $634.0M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,472.1 | −0.003% | $415K | $103K | 5x | as long as short |
| Kalshi KXZECPERPlong | 0.0000% | 8h | 1,472.1 | long leg | $959K | $5.2M | 2.2x | |
| Perpl ZEC | 0.0000% | 43m | 1,472.2 | +0.006% | $84K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,471.5 | −0.045% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,470.8 | −0.092% | $294K | $1.3M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,471.6 | −0.036% | $8K | $8K | 5x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0030% | 1h | 1,471.5 | −0.043% | $605K | $1.3M | 25x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0050% | 8h | 1,470.1 | −0.135% | $181.9M | $1.30B | 50x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,470.8 | −0.091% | $4.7M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,471.4 | −0.050% | $378K | — | 100x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472.1 | −0.001% | $175K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,472 | −0.007% | $14K | $832K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,472.1 | −0.005% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,472.4 | +0.020% | $2.6M | $6.6M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,471.6 | −0.036% | $763.2M | $455.1M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,470.5 | −0.112% | $14.9M | $31.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,472.3 | +0.008% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,470.6 | −0.107% | $684.7M | $2.37B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,473.4 | +0.088% | $698K | $8.5M | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,470.6 | −0.103% | $51.3M | $179.3M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,470.6 | −0.106% | $231.6M | $826.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,470.7 | −0.098% | $104.8M | $55.7M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,470.4 | −0.117% | $163.6M | $292.7M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,470.8 | −0.092% | — | $100.2M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,469.6 | −0.170% | $572K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,470.9 | −0.082% | $3.0M | $454K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,469.9 | −0.153% | $430K | $866K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,470.2 | −0.129% | $110K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,472.1 | −0.002% | $341K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,471.6 | −0.039% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.3 | −0.189% | $458K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,474.3 | +0.149% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,470.5 | −0.111% | $242K | $3.9M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,471.9 | −0.016% | $2.5M | $21.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,471 | −0.077% | $3.9M | $5.3M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,471.7 | −0.029% | $895K | $24K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,470.4 | −0.121% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,471 | −0.074% | $56K | $167K | 20x | as long as short |
| Lighter ZEC | +0.0200% | 1h | 1,471.7 | −0.031% | $19.2M | $50.4M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,472.9 | +0.052% | $853K | $1.1M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,472.9 | +0.050% | $3.8M | $10.1M | 50x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0539% | 1h | 1,471.3 | −0.057% | $2.5M | $3.9M | 15x | |
| Aftermath Perps ZECUSD | +0.0772% | 1h | 1,471.9 | −0.018% | $44K | $46K | 10x | as long as short |
| Lighter RH ZEC | +0.0800% | 1h | 1,472.7 | +0.038% | $2.0M | $8.1M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Deribit ZEC_USDC-PERPETUAL
OKX ZEC-USDT-SWAP
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Bulk ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Lighter RH ZEC