Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0096%/8hpaid last 24h −0.028%

Price spread now: Kalshi against Popdex+0.036%7-day average +0.030% · you sell dearer than you buy

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−$360.360% of the position

Long on Popdex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.036%, 7d avg +0.030%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ZECUSDT	1,472.4	0.0096	pay 0.0012% / 1h	4m 44s	$176K	$2.1M	50x
Short	Kalshi KXZECPERP	1,472.9	0	get 0.0000% / 8h	4m 44s	$979K	$5.7M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Popdex. 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 PopdexbpFee KalshibpOrdersPrice spread, now +0.036%Rate

Funding earned: −$20.16
Price spread: +0.036% → +0.030%: $0.62
Slippage, 4 orders: −$19.56
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$55.5
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Popdex: live order book, 4 min ago; Kalshi: live order book, 3 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 Popdex live order book, 4 min ago	1.32 bp	4.8 bp −$5	11.9 bp −$119	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	6.89 bp	11.9 bp −$12	17.5 bp −$175	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	−0.3655%	1h	1,460.2	−0.825%	$34K	$159K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0434%	1h	1,473.2	+0.055%	$18.0M	$46.1M	25x	as long as short
ApeX Omni ZECUSDT	−0.0341%	1h	1,469.7	−0.179%	$958K	$432K	50x	as long as short
Variational Omni ZEC	−0.0137%	8h	1,472.3	−0.001%	$48.2M	$31.0M	—	as long as short
Bybit ZECUSDT	−0.0135%	8h	1,473.2	+0.058%	$275.8M	$717.7M	75x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,472.8	+0.031%	$30.1M	$78.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,473.2	+0.056%	$6K	$2K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0062%	1h	1,470.2	−0.146%	$399K	$571K	5x	as long as short
Orderly PERP_ZEC_USDC	−0.0013%	8h	1,473.2	+0.056%	$284K	$1.7M	20x	as long as short
01 Exchange ZECUSD	−0.0008%	1h	1,472.9	+0.034%	$9K	$10K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZEC-USDT-SWAP	−0.0002%	8h	1,473.6	+0.084%	$177.2M	$1.45B	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,472.3	−0.003%	$415K	$107K	5x	as long as short
Kalshi KXZECPERPshort	0.0000%	8h	1,472.9	+0.036%	$979K	$5.7M	2.2x
Perpl ZEC	0.0000%	43m	1,472.7	+0.024%	$80K	$436K	10x	as long as short
Aster ZECUSDT	0.0000%	8h	1,473.4	+0.073%	$15.1M	$36.1M	75x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,473.2	+0.058%	$5.2M	—	150x	as long as short
Gate ZEC_USDT	+0.0009%	8h	1,473.4	+0.068%	$51.2M	$197.0M	75x	as long as short
Phoenix ZEC	+0.0012%	1h	1,473.7	+0.094%	$4.7M	$1.7M	10x	as long as short
MEXC ZEC_USDT	+0.0035%	8h	1,473.4	+0.073%	$228.8M	$979.7M	150x	as long as short
Binance ZECUSDT	+0.0035%	8h	1,473.6	+0.082%	$674.9M	$2.67B	75x	as long as short
Polymarket Perps ZEC-USD	+0.0065%	1h	1,472.1	−0.017%	$321K	$2.5M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S +0.0044%	1h	1,473.1	+0.054%	$577K	—	100x	as long as short
Aevo ZEC-PERP	+0.0088%	1h	1,473	+0.041%	$37K	$362K	20x	as long as short
Katana Perps ZEC-USD	+0.0091%	8h	1,472.7	+0.024%	$12K	$889K	10x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,472.4	long leg	$176K	$2.1M	50x
Paradex ZEC-USD-PERP	+0.0099%	8h	1,472.2	−0.012%	$60K	$37K	10x	as long as short
RISEx ZEC/USDC	+0.0100%	1h	1,473	+0.041%	$855K	$2.6M	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.9	−0.027%	$3.1M	$7.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.1	+0.119%	$769.0M	$559.0M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472.3	−0.002%	$1.6M	$3.3M	10x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,474.4	+0.142%	$730K	$7.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.1	+0.253%	$909K	$21K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.8	+0.096%	$103.7M	$62.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.7	+0.090%	$170.8M	$331.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,473.8	+0.101%	—	$115.9M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,474.3	+0.129%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.3	+0.068%	$494K	$10.4M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	+0.059%	$3.0M	$510K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.6	+0.087%	$110K	$4.8M	30x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.7	+0.023%	$128K	$162K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471.6	−0.051%	$448K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475.8	+0.234%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,473.1	+0.048%	$224K	$5.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,473	+0.046%	$2.4M	$28.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473.4	+0.073%	$3.8M	$6.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.1	+0.118%	$3.2M	$4.6M	10x	as long as short
Lighter ZEC	+0.0120%	1h	1,474.9	+0.176%	$19.5M	$59.4M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0209%	1h	1,474	+0.110%	$577K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0232%	1h	1,475.4	+0.204%	$1.8M	$7.7M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0384%	1h	1,474.9	+0.173%	$3.8M	$12.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0512%	1h	1,473.6	+0.086%	$39K	$33K	10x	as long as short