Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.045%

Price spread now: RISEx against Kalshi−0.151%7-day average −0.009% · 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−$44as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.299%+$30 on $10k

Price spread, last 7 days+0.155%+$15 · spread now −0.151%, 7d avg −0.009%

Together, before fees+0.454%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.142% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.009%). If the spread goes back, that is −$14 on $10k: about 6.0 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.299% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,465.6	0.0137	pay 0.0137% / 8h	7h 03m	$1.5M	$4.4M	2.2x
Short	RISEx ZEC/USDC	1,463.4	0.0216	get 0.0027% / 1h	3m 28s	$925K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.151%Rate

Funding earned: $16.59
Price spread: −0.151% → −0.009%: −$14.24
Slippage, 4 orders: −$13.65
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$27.3
Costs to cover: 0.297%
Break-even: 18.5 days

Slippage from Kalshi: live order book, 5 min ago; RISEx: live order book, just now.

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	6.04 bp	11.0 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell RISEx live order book, just now	0.79 bp	3.8 bp −$4	8.4 bp −$84	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	−0.3042%	1h	1,466.7	+0.075%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.9	−0.047%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,465.6	0.000%	$29.6M	$70.8M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,463.2	−0.165%	$407K	$37K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,462.7	−0.197%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,464.7	−0.065%	$5.2M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0007%	1h	1,465.1	−0.038%	$617K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,464.4	−0.080%	$293K	$900K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0070%	1h	1,464.3	−0.089%	$397K	$436K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0090% / S −0.0041%	1h	1,464.5	−0.078%	$437K	—	100x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,463.2	−0.166%	$174K	$1.6M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,463.8	−0.121%	$14K	$799K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463.4	−0.153%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.6	−0.071%	$2.9M	$6.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,463.4	−0.154%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.4	−0.153%	$1.7M	$2.3M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,463.2	−0.163%	$674.5M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,462.6	−0.204%	$261.9M	$585.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,462.9	−0.188%	$178.8M	$1.20B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.341%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,463.1	−0.173%	$52.5M	$173.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463.3	−0.156%	$219.9M	$776.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.6	−0.072%	$103.2M	$52.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,463.2	−0.162%	$166.4M	$267.4M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,463.4	−0.149%	—	$106.8M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,465.8	+0.016%	$48.1M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,465.4	−0.013%	$570K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,465.7	+0.008%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,463.9	−0.117%	$404K	$920K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.8	−0.059%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.1	−0.171%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,464.4	−0.084%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.5	−0.141%	$447K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,466.8	+0.082%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,464.6	−0.071%	$235K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,464.9	−0.047%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.9	−0.046%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463.1	−0.168%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,464.3	−0.088%	$47K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,463.1	−0.171%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0116%	1h	1,465.4	−0.018%	$4.7M	$1.3M	10x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,465.2	−0.030%	$2.1M	$7.1M	10x	as long as short
Kalshi KXZECPERPlong	+0.0137%	8h	1,465.6	long leg	$1.5M	$4.4M	2.2x
Hyperliquid ZEC	+0.0148%	1h	1,464.3	−0.089%	$763.0M	$419.6M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,464.5	−0.076%	$19.3M	$45.8M	20x	as long as short
RISEx ZEC/USDCshort	+0.0216%	1h	1,463.4	−0.151%	$925K	$1.1M	10x
Backpack ZEC_USDC_PERP	+0.0316%	1h	1,465.2	−0.029%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,464.5	−0.074%	$18.0M	$45.5M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,464.8	−0.059%	$673K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,466.5	+0.063%	$3.9M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0685%	1h	1,464.9	−0.048%	$45K	$49K	10x	as long as short