Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against BingX+0.079%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.178%+$18 · spread now +0.079%, 7d avg −0.012%

Together, before fees+0.158%+ Points / potential airdropGRVT: Active · farm board+$16 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: GRVT is 0.091% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEN-USDT	7.7860	0.0100	pay 0.0100% / 8h	32m 57s	—	$3.4M	—
Short	GRVT ZEN_USDT_Perp	7.7921	0.0100	get 0.0100% / 8h	32m 57s	$581K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → −0.012%: $9.1
Slippage, 4 orders: −$44.3
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$54.21
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; GRVT: live order book, 5 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, 2 min ago	3.85 bp	16.6 bp −$17	32.5 bp −$325	286.5 bp −$28.7K	427.2 bp −$213.6K
Sell GRVT live order book, 5 min ago	1.92 bp	15.2 bp −$15	72.9 bp −$729	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	−0.0033%	8h	7.7836	−0.031%	$52K	$85K	—	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7965	+0.135%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0012%	8h	7.7910	+0.064%	$4.5M	$5.0M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0019%	4h	7.7820	−0.051%	$2.3M	$5.9M	50x	as long as short
Bybit ZENUSDT	+0.0063%	8h	7.7810	−0.064%	$4.7M	$6.3M	75x	as long as short
MEXC ZEN_USDT	+0.0063%	8h	7.7890	+0.039%	$12.6M	$5.4M	200x	as long as short
Extended ZEN-USD	+0.0064%	1h	7.7865	+0.007%	$26K	$118K	5x	as long as short
Binance ZENUSDT	+0.0066%	8h	7.7880	+0.025%	$11.3M	$31.6M	75x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7887	+0.035%	$53K	$375K	10x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7840	−0.026%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDTlong	+0.0100%	8h	7.7860	long leg	—	$3.4M	—
GRVT ZEN_USDT_Perpshort	+0.0100%	8h	7.7921	+0.079%	$581K	$1.7M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.7880	+0.026%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7930	+0.090%	$2K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0186%	8h	7.7940	+0.103%	$846K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0458%	1h	7.8124	+0.339%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2634%	1h	7.8273	+0.531%	$512K	$1.0M	25x	as long as short