Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.027%

Price spread now: Extended against BloFin+0.070%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$700.698% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 4 days (all we have)−0.341%−$34 · spread now +0.070%, 7d avg −0.008%

Together, before fees−0.564%+ Points / potential airdropExtended: Active · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.078% dearer against BloFin than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of −0.008%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.6800	0.0220	pay 0.0220% / 8h	4h 00m	$833K	$1.6M	75x
Short	Extended ZEN-USD	7.6854	0.0104	get 0.0013% / 1h	0m 26s	$22K	$142K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$24.36
Price spread: +0.070% → −0.008%: $7.84
Slippage, 4 orders: −$52.81
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$86.32
Costs to cover: 0.698%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Extended: live order book, 55 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 BloFin live order book, 2 min ago	2.61 bp	15.2 bp −$15	23.9 bp −$239	doesn't fit	doesn't fit
Sell Extended live order book, 55 min ago	2.30 bp	20.5 bp −$20	152.7 bp −$1,527	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	7.6930	+0.170%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0070%	4h	7.6900	+0.130%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTM	+0.0081%	8h	7.6890	+0.117%	$4.1M	$4.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6908	+0.141%	$51K	$379K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6890	+0.117%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6900	+0.130%	$4.5M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6920	+0.156%	$11.6M	$5.1M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6960	+0.208%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6730	−0.091%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6817	+0.022%	$55K	$89K	—	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	7.6670	−0.169%	$574K	$2.1M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6650	−0.195%	$27K	$681K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6860	+0.078%	$2K	$1.3M	20x	as long as short
Extended ZEN-USDshort	+0.0104%	1h	7.6854	+0.070%	$22K	$142K	5x
BloFin ZEN-USDTlong	+0.0220%	8h	7.6800	long leg	$833K	$1.6M	75x
Hyperliquid ZEN	+0.0368%	1h	7.7122	+0.419%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3077%	1h	7.7030	+0.299%	$499K	$999K	25x	as long as short