Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h −0.081%

Price spread now: OKX against Bitget−0.118%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$700.703% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days+0.160%+$16 · spread now −0.118%, 7d avg −0.001%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.116% cheaper against Bitget than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.6430	0.0039	pay 0.0039% / 8h	2h 51m	$2.8M	$3.7M	50x
Short	OKX ZEN-USDT-SWAP	7.6340	−0.0027	pay 0.0014% / 4h	2h 51m	$2.3M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$13.96
Price spread: −0.118% → −0.001%: −$11.63
Slippage, 4 orders: −$48.34
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.93
Costs to cover: 0.703%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; OKX: live order book, 2 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 Bitget live order book, 2 min ago	1.96 bp	18.3 bp −$18	48.5 bp −$485	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.65 bp	21.0 bp −$21	96.3 bp −$963	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	−0.308%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAPshort	−0.0027%	4h	7.6340	−0.118%	$2.3M	$6.5M	50x
dYdX ZEN-USD	0.0000%	1h	7.6440	+0.013%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0014%	8h	7.6350	−0.105%	$12.0M	$6.0M	200x	as long as short
Binance ZENUSDT	+0.0015%	8h	7.6360	−0.092%	$10.9M	$33.7M	75x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6342	−0.115%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0017%	8h	7.6480	+0.065%	$4.3M	$5.3M	50x	as long as short
Bitget ZENUSDTlong	+0.0039%	8h	7.6430	long leg	$2.8M	$3.7M	50x
Aster ZENUSDT	+0.0056%	8h	7.6436	+0.008%	$54K	$388K	10x	as long as short
BloFin ZEN-USDT	+0.0059%	8h	7.6330	−0.131%	$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	+0.170%	$27K	$682K	50x	as long as short
Bybit ZENUSDT	+0.0099%	8h	7.6320	−0.144%	$4.6M	$7.4M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6380	−0.065%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6539	+0.143%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6518	+0.115%	$580K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6400	−0.039%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6490	+0.078%	$492K	$1.1M	25x	as long as short