ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%

Price spread now: Phemex against Kalshi−0.070%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.397%+$40 · spread now −0.070%, 7d avg +0.002%

Together, before fees+0.418%+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.072% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.002%). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.021% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,486.4	0	get 0.0000% / 8h	5h 51m	$1.6M	$4.6M	2.2x
Short	Phemex ZECUSDT	1,485.4	0.0100	get 0.0100% / 8h	1h 51m	$4.0M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.070%Rate

Funding earned: $21
Price spread: −0.070% → +0.002%: −$7.16
Slippage, 4 orders: −$38.24
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.4
Costs to cover: 0.602%
Break-even: 22.5 days

Slippage from Kalshi: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	6.72 bp	11.7 bp −$12	20.1 bp −$201	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.72 bp	18.9 bp −$19	31.9 bp −$319	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	1,491.6	+0.346%	$34K	$273K	12x	as long as short
ApeX Omni ZECUSDT	−0.0140%	1h	1,485.7	−0.048%	$411K	$932K	50x	as long as short
BloFin ZEC-USDT	−0.0123%	8h	1,485.7	−0.048%	$30.6M	$73.7M	75x	as long as short
Bulk ZEC-USD	−0.0097%	1h	1,490.7	+0.284%	$901K	$15K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,485.1	−0.091%	$18.0M	$46.4M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,485.8	−0.040%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,484.9	−0.102%	$413K	$35K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,486.4	long leg	$1.6M	$4.6M	2.2x
Perpl ZEC	0.0000%	43m	1,484.4	−0.137%	$61K	$293K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,485.7	−0.048%	$5.3M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0072%	8h	1,485.1	−0.090%	$298K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,483.1	−0.225%	$157K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,485.5	−0.060%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,482.5	−0.262%	$14.1M	$30.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,484.6	−0.121%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,483.1	−0.226%	$690.7M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,483.1	−0.227%	$269.1M	$626.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,483	−0.228%	$179.8M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,487	+0.038%	$405K	$507K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,482.4	−0.270%	$53.9M	$179.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,482.2	−0.286%	$229.3M	$773.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,484.5	−0.131%	$102.0M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,483.1	−0.226%	$160.1M	$287.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,481.5	−0.334%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,485.5	−0.062%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,493.6	+0.483%	$48.8M	$33.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,488.1	+0.115%	$569K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,485.4	−0.070%	$3.1M	$477K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,486.2	−0.016%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,482.6	−0.258%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,485.3	−0.076%	$164K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,484.6	−0.125%	$453K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,487.7	+0.085%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,485.2	−0.084%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,484.4	−0.135%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,485.4	−0.070%	$4.0M	$5.0M	50x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,482	−0.301%	$61K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,482.9	−0.240%	$11K	$862K	10x	as long as short
Hyperliquid ZEC	+0.0104%	1h	1,486	−0.029%	$773.3M	$437.9M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,481.9	−0.304%	$2.7M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,485.2	−0.083%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0120% / S −0.0104%	1h	1,485.5	−0.060%	$430K	—	100x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,483.1	−0.224%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,482.7	−0.251%	$927K	$1.2M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,490.8	+0.296%	$4.7M	$1.4M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,485.8	−0.042%	$621K	$8.6M	10x	as long as short
Aftermath Perps ZECUSD	+0.0251%	1h	1,490.8	+0.294%	$48K	$63K	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,486.1	−0.023%	$19.4M	$45.4M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0267%	1h	1,486.3	−0.012%	$707K	$1.4M	25x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,484.3	−0.144%	$2.1M	$7.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,488	+0.105%	$3.6M	$9.9M	50x	as long as short