Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.039%

Price spread now: Hyperliquid against Binance+0.265%7-day average +0.048% · you sell dearer than you buy

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

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days−0.233%−$23 · spread now +0.265%, 7d avg +0.048%

Together, before fees−0.146%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.217% dearer against Binance than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZENUSDT	7.7070	0.0008	pay 0.0008% / 8h	1h 39m	$11.1M	$32.0M	75x
Short	Hyperliquid ZEN	7.7274	0.0100	get 0.0013% / 1h	39m 22s	$2.4M	$1.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.265%Rate

Funding earned: $19.3
Price spread: +0.265% → +0.048%: $21.71
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $22
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 min ago; Hyperliquid: live order book, 2 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 Binance live order book, 2 min ago	1.30 bp	14.2 bp −$14	39.6 bp −$396	402.0 bp −$40.2K	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.88 bp	doesn't fit	doesn't fit	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
OKX ZEN-USDT-SWAP	−0.0075%	4h	7.7060	−0.013%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0056%	8h	7.6901	−0.219%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0031%	8h	7.7050	−0.026%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7129	+0.077%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.7066	−0.006%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0008%	8h	7.7060	−0.013%	$12.3M	$5.6M	200x	as long as short
Binance ZENUSDTlong	+0.0008%	8h	7.7070	long leg	$11.1M	$32.0M	75x
BloFin ZEN-USDT	+0.0032%	8h	7.7090	+0.026%	$835K	$1.9M	75x	as long as short
Bitget ZENUSDT	+0.0046%	8h	7.7020	−0.065%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0069%	8h	7.6997	−0.094%	$53K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZENshort	+0.0100%	1h	7.7274	+0.265%	$2.4M	$1.8M	5x
Bybit ZENUSDT	+0.0100%	8h	7.7000	−0.091%	$4.7M	$6.7M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7050	−0.026%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6962	−0.140%	$574K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6970	−0.130%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7010	−0.078%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1885%	1h	7.7266	+0.255%	$506K	$1.1M	25x	as long as short