Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%

Price spread now: Bybit against BingX−0.104%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1111.114% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 7 days+0.104%+$10 · spread now −0.104%, 7d avg −0.047%

Together, before fees+0.022%+$2 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: Bybit is 0.056% cheaper against BingX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEN-USDT	7.7230	0.0100	pay 0.0100% / 8h	5h 18m	—	$3.2M	—
Short	Bybit ZENUSDT	7.7150	0.0100	get 0.0100% / 8h	5h 18m	$4.6M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → −0.047%: −$5.64
Slippage, 4 orders: −$90.36
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$117
Costs to cover: 1.114%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Bybit: 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 BingX live order book, 6 min ago	4.53 bp	16.8 bp −$17	39.1 bp −$391	300.2 bp −$30.0K	445.5 bp −$222.8K
Sell Bybit live order book, 4 min ago	4.52 bp	44.4 bp −$44	238.4 bp −$2,384	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
dYdX ZEN-USD	0.0000%	1h	7.7220	−0.014%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0097%	4h	7.7190	−0.052%	$2.3M	$5.4M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7212	−0.024%	$54K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7217	−0.017%	$11.2M	$29.9M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.7150	−0.104%	$4.6M	$5.8M	75x
MEXC ZEN_USDT	+0.0100%	8h	7.7240	+0.013%	$12.0M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7230	0.000%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7180	−0.065%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDTlong	+0.0100%	8h	7.7230	long leg	—	$3.2M	—
Variational Omni ZEN	+0.0100%	8h	7.7291	+0.079%	$52K	$83K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7360	+0.168%	$581K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7400	+0.220%	$26K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7250	+0.026%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7199	−0.040%	$25K	$127K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7190	−0.052%	$843K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0319%	1h	7.7396	+0.215%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3170%	1h	7.7504	+0.354%	$507K	$1.0M	25x	as long as short