Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%

Price spread now: SoDEX against Kalshi−0.087%7-day average −0.021% · 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−$35as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.370%+$37 · spread now −0.087%, 7d avg −0.021%

Together, before fees+0.446%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.067% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.087% now, against its 7-day average of −0.021%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXZECPERP	1,463.7	0	get 0.0000% / 8h	6h 45m	$1.5M	$4.4M	2.2x
Short	SoDEX ZEC-USD	1,462.4	0.0100	get 0.0013% / 1h	45m 19s	$234K	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.087%Rate

Funding earned: $21
Price spread: −0.087% → −0.021%: −$6.67
Slippage, 4 orders: −$9.93
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$13.6
Costs to cover: 0.279%
Break-even: 11.5 days

Slippage from Kalshi: live order book, 3 min ago; SoDEX: 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 Kalshi live order book, 3 min ago	4.67 bp	9.7 bp −$10	17.1 bp −$171	doesn't fit	doesn't fit
Sell SoDEX live order book, 4 min ago	0.03 bp	4.3 bp −$4	14.1 bp −$141	105.0 bp −$10.5K	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	−0.3243%	1h	1,463.5	−0.014%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,463	−0.051%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0068%	8h	1,462.6	−0.073%	$29.7M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,463.7	−0.002%	$407K	$37K	5x	as long as short
Kalshi KXZECPERPlong	0.0000%	8h	1,463.7	long leg	$1.5M	$4.4M	2.2x
Perpl ZEC	0.0000%	43m	1,463	−0.051%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462.8	−0.061%	$5.2M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0024%	1h	1,463.3	−0.031%	$616K	$1.3M	25x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,463.1	−0.044%	$8K	$7K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,462.4	−0.089%	$292K	$900K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,468.3	+0.310%	$4.7M	$1.3M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0094% / S −0.0047%	1h	1,462.4	−0.089%	$436K	—	100x	as long as short
Bybit ZECUSDT	+0.0094%	8h	1,462.5	−0.080%	$260.9M	$589.3M	75x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,464.4	+0.050%	$2.1M	$7.1M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.9	−0.056%	$174K	$1.6M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,462.8	−0.062%	$12K	$805K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463	−0.051%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,463.3	−0.026%	$2.9M	$6.4M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.7	−0.001%	$762.0M	$419.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.8	−0.062%	$14.4M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.1	−0.044%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,463.1	−0.043%	$675.0M	$2.17B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,462.9	−0.053%	$178.0M	$1.20B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,463.4	−0.021%	$397K	$429K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,464.4	+0.048%	$885K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,462.6	−0.076%	$52.7M	$170.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462.6	−0.077%	$218.1M	$758.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462.8	−0.064%	$103.2M	$52.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,463.1	−0.042%	$165.6M	$267.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,461.7	−0.138%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,462.5	−0.081%	$48.0M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,464.4	+0.046%	$571K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.4	−0.092%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,462.7	−0.072%	$404K	$923K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.7	−0.072%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462.4	−0.089%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.5	−0.084%	$160K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,461.6	−0.146%	$446K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.1	+0.095%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USDshort	+0.0100%	1h	1,462.4	−0.087%	$234K	$3.2M	10x
HTX ZEC-USDT	+0.0100%	8h	1,462	−0.115%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.4	−0.018%	$3.9M	$4.7M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.6	−0.074%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.5	−0.082%	$47K	$151K	20x	as long as short
Lighter ZEC	+0.0128%	1h	1,464.1	+0.026%	$19.3M	$43.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0147%	1h	1,462.7	−0.072%	$18.0M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,463.1	−0.043%	$925K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0287%	1h	1,464	+0.018%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,465.1	+0.096%	$3.7M	$9.2M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,464.6	+0.062%	$670K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0678%	1h	1,465.2	+0.103%	$45K	$49K	10x	as long as short