Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.002%

Price spread now: gTrade (Gains Network) against Kalshi−0.007%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2942.937% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.007%, 7d avg −0.036%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.029% dearer against Kalshi than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,499.3	0	get 0.0000% / 8h	4h 48m	$1.5M	$4.7M	2.2x
Short	gTrade (Gains Network) ZEC/USD	1,499.2	L +0.0007% / S −0.0006%	get 0.0001% / 1h	48m 28s	$5.3M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Kalshi. 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 KalshibpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.007%Rate

Funding earned: $1.33
Price spread: −0.007% → −0.036%: $2.91
Slippage, 4 orders: −$273.65
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$289.42
Costs to cover: 2.937%
Break-even: 1533.8 days

Slippage from Kalshi: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 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, 5 min ago	6.78 bp	11.8 bp −$12	18.3 bp −$183	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 1 min ago	130.04 bp	135.0 bp −$135	584.7 bp −$5,847	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	−0.3442%	1h	1,495.7	−0.238%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,497	−0.152%	$61K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0165%	8h	1,498.3	−0.064%	$31.0M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,498.8	−0.032%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0062%	1h	1,495.8	−0.232%	$48K	$61K	10x	as long as short
Bulk ZEC-USD	−0.0053%	1h	1,497	−0.149%	$904K	$2K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,498.4	−0.059%	$416K	$35K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,499.3	long leg	$1.5M	$4.7M	2.2x
gTrade (Gains Network) ZEC/USDshort	L +0.0007% / S −0.0006%	1h	1,499.2	−0.007%	$5.3M	—	150x
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,499	−0.017%	$18.1M	$46.6M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	+0.0068%	1h	1,499.3	+0.006%	$685K	$1.4M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,498.9	−0.025%	$302K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,496.7	−0.173%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,498.1	−0.075%	$172K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,498.1	−0.077%	$14K	$882K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,498.6	−0.046%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,499.3	0.000%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,499.7	+0.029%	$783.4M	$444.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,498.4	−0.057%	$14.0M	$31.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,498.9	−0.026%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,498.4	−0.057%	$699.5M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,498.1	−0.075%	$268.3M	$625.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,498.4	−0.060%	$182.4M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,493.3	−0.398%	$408K	$553K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,498.4	−0.060%	$55.6M	$182.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,498.7	−0.040%	$249.1M	$788.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,498.9	−0.026%	$103.3M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,498.9	−0.025%	$161.7M	$289.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,497.9	−0.090%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,496.6	−0.178%	$49.0M	$35.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,498.5	−0.053%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.2	−0.139%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,497.6	−0.111%	$412K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,497.1	−0.144%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,498.3	−0.064%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,499.1	−0.012%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,498	−0.085%	$457K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,501.5	+0.149%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,498.8	−0.030%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,498.1	−0.080%	$2.7M	$20.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,498.5	−0.049%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,498.4	−0.057%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,499.1	−0.014%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,498.4	−0.057%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,498.5	−0.051%	$942K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0156% / S −0.0175%	1h	1,499	−0.015%	$447K	—	100x	as long as short
Lighter RH ZEC	+0.0160%	1h	1,500.1	+0.057%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,500.1	+0.057%	$19.7M	$44.9M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,499.1	−0.008%	$615K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,500.4	+0.077%	$3.7M	$10.2M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0495%	1h	1,498.5	−0.052%	$2.3M	$3.9M	15x	as long as short