Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.024%

Price spread now: Kalshi against Hotstuff−0.092%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Kalshi is 0.092% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,470.4	−0.0080	get 0.0010% / 1h	5m 11s	$6K	$2K	10x
Short	Kalshi KXZECPERP	1,469	0	get 0.0000% / 8h	3h 05m	$959K	$5.2M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hotstuff. 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 HotstuffbpFee KalshibpOrdersPrice spread, now −0.092%Rate

Funding earned: $16.8
Price spread: −0.092% → 0.000%: −$9.18
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$7.38
Costs to cover: 0.150%
Break-even: 10.1 days

Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 4 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 4 min ago	6.63 bp	11.6 bp −$12	16.8 bp −$168	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1,471.4	+0.068%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,469.9	−0.031%	$17.9M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0123%	1h	1,467.7	−0.180%	$400K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0117%	8h	1,469.7	−0.042%	$29.6M	$72.3M	75x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,470.4	long leg	$6K	$2K	10x
Variational Omni ZEC	−0.0015%	8h	1,469.6	−0.051%	$47.7M	$33.3M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471	+0.041%	$414K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,470.7	+0.025%	$8K	$9K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,469	−0.092%	$959K	$5.2M	2.2x
Perpl ZEC	0.0000%	43m	1,470.3	−0.007%	$84K	$405K	10x	as long as short

Show 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	1,470.1	−0.017%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0021%	8h	1,469.7	−0.044%	$293K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,470.5	+0.011%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,469.9	−0.030%	$378K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0066%	8h	1,469.6	−0.049%	$181.3M	$1.29B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.2	−0.010%	$173K	$1.8M	50x	as long as short
Gate ZEC_USDT	+0.0096%	8h	1,469.3	−0.070%	$50.2M	$182.2M	75x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,470	−0.024%	$12K	$847K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.7	−0.043%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470.4	+0.001%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.4	+0.003%	$765.7M	$451.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.2	−0.013%	$14.9M	$31.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.4	0.000%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,469.8	−0.041%	$683.2M	$2.35B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,469.4	−0.062%	$272.8M	$628.1M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,471.9	+0.106%	$691K	$8.6M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,467.8	−0.173%	$893K	$21K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469.7	−0.041%	$218.1M	$832.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470	−0.022%	$104.1M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.7	−0.044%	$163.5M	$289.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,470	−0.027%	—	$100.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,471.6	+0.083%	$573K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.6	−0.050%	$3.0M	$450K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.7	−0.042%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.2	+0.193%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.9	−0.031%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469.8	−0.037%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.4	−0.130%	$458K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471.9	+0.102%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.8	−0.041%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469	−0.092%	$2.5M	$19.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,470.5	+0.009%	$3.8M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.9	−0.028%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470	−0.021%	$53K	$162K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0172%	1h	1,470.6	+0.018%	$605K	$1.3M	25x	as long as short
Lighter ZEC	+0.0224%	1h	1,471.2	+0.060%	$19.2M	$50.6M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,470.9	+0.040%	$854K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,472.2	+0.123%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0512%	1h	1,470.1	−0.020%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0688%	1h	1,471.5	+0.075%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0753%	1h	1,470.2	−0.009%	$43K	$46K	10x	as long as short