Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.021%

Price spread now: Kalshi against SoDEX−0.046%7-day average +0.017% · 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−$39as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.410%−$41 · spread now −0.046%, 7d avg +0.017%

Together, before fees−0.492%−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.063% cheaper against SoDEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ZEC-USD	1,504.9	0.0100	pay 0.0013% / 1h	57m 58s	$258K	$3.4M	10x
Short	Kalshi KXZECPERP	1,504.2	0	get 0.0000% / 8h	57m 58s	$1.5M	$4.9M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now −0.046%Rate

Funding earned: −$21
Price spread: −0.046% → +0.017%: −$6.29
Slippage, 4 orders: −$15.1
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$60.39
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from SoDEX: live order book, 4 min ago; Kalshi: live order book, 4 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 SoDEX live order book, 4 min ago	0.03 bp	4.8 bp −$5	16.2 bp −$162	104.1 bp −$10.4K	doesn't fit
Sell Kalshi live order book, 4 min ago	7.08 bp	12.1 bp −$12	18.0 bp −$180	doesn't fit	doesn't fit

ZEC on 51 exchanges

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	−0.3418%	1h	1,490.9	−0.929%	$36K	$267K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0507%	1h	1,502.6	−0.154%	$408K	$481K	5x	as long as short
Perpl ZEC	−0.0447%	43m	1,501.8	−0.210%	$63K	$296K	10x	as long as short
Aftermath Perps ZECUSD	−0.0293%	1h	1,503.7	−0.078%	$49K	$74K	10x	as long as short
BloFin ZEC-USDT	−0.0200%	8h	1,502.5	−0.158%	$31.9M	$72.1M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.1	−0.120%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.2	−0.113%	$414K	$37K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,504.2	−0.046%	$1.5M	$4.9M	2.2x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,504.8	−0.009%	$5.3M	—	150x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,503.5	−0.094%	$8K	$6K	5x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZECUSDT	+0.0031%	1h	1,503.2	−0.113%	$412K	$952K	50x	as long as short
Orderly PERP_ZEC_USDC	+0.0059%	8h	1,504.7	−0.018%	$304K	$652K	20x	as long as short
Phoenix ZEC	+0.0060%	1h	1,504.3	−0.044%	$4.8M	$1.2M	10x	as long as short
RISEx ZEC/USDC	+0.0083%	1h	1,502.8	−0.142%	$909K	$1.3M	10x	as long as short
Aster ZECUSDT	+0.0087%	8h	1,505.1	+0.012%	$14.4M	$25.6M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,505.9	+0.065%	$19.9M	$36.6M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,506.5	+0.106%	$2.1M	$6.9M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503.4	−0.102%	$169K	$1.3M	50x	as long as short
Katana Perps ZEC-USD	+0.0099%	8h	1,502.8	−0.139%	$27K	$859K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,501.8	−0.206%	$62K	$14K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,502.6	−0.156%	$3.1M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,506	+0.072%	$794.8M	$421.6M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,502.2	−0.183%	$1.5M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,505.5	+0.039%	$705.1M	$2.12B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,505.1	+0.013%	$275.6M	$576.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,505.4	+0.031%	$187.0M	$1.26B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,503.2	−0.113%	$596K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,502.7	−0.145%	$778K	$182K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,505.2	+0.017%	$64.7M	$162.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.3	+0.023%	$180.5M	$794.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505	+0.005%	$105.9M	$50.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.1	+0.011%	$164.4M	$269.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,504	−0.064%	—	$6.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,505.7	+0.052%	$2.2M	$3.6M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503.2	−0.117%	$49.7M	$33.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503	−0.127%	$549K	$8.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.2	+0.018%	$3.1M	$635K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,504	−0.058%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,502.9	−0.134%	$367K	$1.4M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,504.3	−0.043%	$169K	$188K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,504.2	−0.048%	$393K	$492K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,505.7	+0.051%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USDlong	+0.0100%	1h	1,504.9	long leg	$258K	$3.4M	10x
HTX ZEC-USDT	+0.0100%	8h	1,503.7	−0.080%	$2.7M	$20.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,505.6	+0.042%	$4.0M	$4.7M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505	+0.005%	$2.7M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,504.6	−0.020%	$37K	$163K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0177%	1h	1,505.4	+0.029%	$18.6M	$45.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0222%	1h	1,504.3	−0.040%	$349K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0262%	1h	1,505.9	+0.067%	$695K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0392%	1h	1,507	+0.140%	$3.9M	$9.2M	50x	as long as short