Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget+0.048%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.048% dearer against Bitget than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.7800	0.0100	pay 0.0100% / 8h	7h 18m	$2.9M	$3.4M	50x
Short	dYdX ZEN-USD	7.7838	0	get 0.0000% / 1h	18m 26s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$21
Price spread: +0.048% → 0.000%: $4.83
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.17
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; dYdX: no order-book sample. 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 Bitget live order book, 4 min ago	3.85 bp	16.7 bp −$17	34.2 bp −$342	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDshort	0.0000%	1h	7.7838	+0.048%	$9K	—	5x
Variational Omni ZEN	+0.0011%	8h	7.8012	+0.273%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7836	+0.046%	$53K	$379K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7830	+0.039%	$11.4M	$31.3M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7780	−0.026%	$4.7M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7800	0.000%	$2.3M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7770	−0.039%	$12.5M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7820	+0.026%	$4.5M	$4.8M	50x	as long as short
Bitget ZENUSDTlong	+0.0100%	8h	7.7800	long leg	$2.9M	$3.4M	50x
BingX ZEN-USDT	+0.0100%	8h	7.7790	−0.013%	—	$3.3M	—	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	7.8070	+0.347%	$584K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8110	+0.398%	$27K	$689K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7670	−0.167%	$2K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7830	+0.039%	$22K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.8030	+0.296%	$846K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0255%	1h	7.7995	+0.251%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2970%	1h	7.8123	+0.415%	$511K	$1.0M	25x	as long as short