Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.001%

Price spread now: Extended against Binance−0.023%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.023%, 7d avg −0.052%

Together, before fees−0.034%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.029% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZENUSDT	7.6360	0.0015	pay 0.0015% / 8h	2h 51m	$10.9M	$33.7M	75x
Short	Extended ZEN-USD	7.6342	0.0016	get 0.0002% / 1h	51m 15s	$25K	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0.27
Price spread: −0.023% → −0.052%: $2.9
Slippage, 4 orders: −$51.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$63.52
Costs to cover: 0.667%
Break-even: 1635.8 days

Slippage from Binance: live order book, 5 min ago; Extended: live order book, 34 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 Binance live order book, 5 min ago	0.65 bp	12.1 bp −$12	32.0 bp −$320	380.5 bp −$38.0K	doesn't fit
Sell Extended live order book, 34 min ago	2.80 bp	20.6 bp −$21	150.7 bp −$1,507	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	−0.217%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0027%	4h	7.6340	−0.026%	$2.3M	$6.5M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6440	+0.105%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0014%	8h	7.6350	−0.013%	$12.0M	$6.0M	200x	as long as short
Binance ZENUSDTlong	+0.0015%	8h	7.6360	long leg	$10.9M	$33.7M	75x
Extended ZEN-USDshort	+0.0016%	1h	7.6342	−0.023%	$25K	$110K	5x
KuCoin ZENUSDTM	+0.0017%	8h	7.6480	+0.157%	$4.3M	$5.3M	50x	as long as short
Bitget ZENUSDT	+0.0039%	8h	7.6430	+0.092%	$2.8M	$3.7M	50x	as long as short
Aster ZENUSDT	+0.0056%	8h	7.6436	+0.100%	$54K	$388K	10x	as long as short
BloFin ZEN-USDT	+0.0059%	8h	7.6330	−0.039%	$835K	$2.0M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZENUSDT	+0.0072%	1h	7.6560	+0.262%	$27K	$682K	50x	as long as short
Bybit ZENUSDT	+0.0099%	8h	7.6320	−0.052%	$4.6M	$7.4M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6380	+0.026%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6539	+0.234%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6518	+0.207%	$580K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6400	+0.052%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6490	+0.170%	$492K	$1.1M	25x	as long as short