Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.073%

Price spread now: OKX against Aster−0.053%7-day average −0.099% · 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−$78as in the Price arb table

costs, in and out, $10k−$830.825% of the position

Long on Aster Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now −0.053%, 7d avg −0.099%

Together, before fees−0.218%+ Points / potential airdropAster: Stage 5 · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.046% dearer against Aster than usual: you sell high and buy low (spread −0.053% now, against its 7-day average of −0.099%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZENUSDT	7.6460	0.0055	pay 0.0055% / 8h	2h 52m	$54K	$388K	10x
Short	OKX ZEN-USDT-SWAP	7.6420	−0.0019	pay 0.0010% / 4h	2h 52m	$2.3M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Aster. 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 AsterbpFee OKXbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$15.63
Price spread: −0.053% → −0.099%: $4.65
Slippage, 4 orders: −$64.53
Fee Aster: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$93.51
Costs to cover: 0.825%
Break-even: never at this rate

Slippage from Aster: live order book, 34 min ago; OKX: live order book, 6 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 Aster live order book, 34 min ago	7.79 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.66 bp	20.4 bp −$20	66.9 bp −$669	doesn't fit	doesn't fit

ZEN on 17 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
Variational Omni ZEN	−0.0165%	8h	7.6195	−0.347%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAPshort	−0.0019%	4h	7.6420	−0.053%	$2.3M	$6.5M	50x
dYdX ZEN-USD	0.0000%	1h	7.6505	+0.059%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0013%	8h	7.6440	−0.026%	$12.0M	$6.0M	200x	as long as short
Binance ZENUSDT	+0.0014%	8h	7.6440	−0.026%	$10.9M	$33.7M	75x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6442	−0.024%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0019%	8h	7.6500	+0.052%	$4.3M	$5.3M	50x	as long as short
Bitget ZENUSDT	+0.0040%	8h	7.6450	−0.013%	$2.8M	$3.7M	50x	as long as short
BloFin ZEN-USDT	+0.0054%	8h	7.6520	+0.078%	$834K	$2.0M	75x	as long as short
Aster ZENUSDTlong	+0.0055%	8h	7.6460	long leg	$54K	$388K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6627	+0.218%	$2.4M	$2.1M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6400	−0.079%	$4.6M	$7.4M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6440	−0.026%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6518	+0.076%	$580K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6310	−0.196%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6470	+0.013%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1136%	1h	7.6610	+0.196%	$493K	$1.1M	25x	as long as short