Funding arb · Price arb /

ZEN

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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 +0.027%

Price spread now: Aster against Bybit+0.136%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$386as in the Price arb table

costs, in and out, $10k−$3913.905% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.136%, 7d avg +0.092%

Together, before fees+0.044%+ Points / potential airdropAster: Stage 5 · farm board+$4 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: Aster is 0.044% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.7100	0.0100	pay 0.0100% / 8h	5h 18m	$4.6M	$5.8M	75x
Short	Aster ZENUSDT	7.7205	0.0100	get 0.0100% / 8h	5h 18m	$53K	$375K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.092%: $4.35
Slippage, 4 orders: −$371.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$386.16
Costs to cover: 3.905%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Aster: live order book, 44 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 Bybit live order book, 4 min ago	4.52 bp	36.0 bp −$36	178.0 bp −$1,780	doesn't fit	doesn't fit
Sell Aster live order book, 44 min ago	8.38 bp	287.9 bp −$288	doesn't fit	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	+0.155%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0089%	4h	7.7040	−0.078%	$2.3M	$5.4M	50x	as long as short
Aster ZENUSDTshort	+0.0100%	8h	7.7205	+0.136%	$53K	$375K	10x
Binance ZENUSDT	+0.0100%	8h	7.7100	0.000%	$11.2M	$29.9M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.7100	long leg	$4.6M	$5.8M	75x
MEXC ZEN_USDT	+0.0100%	8h	7.7140	+0.052%	$12.0M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7210	+0.143%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7150	+0.065%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7190	+0.117%	—	$3.2M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7291	+0.247%	$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	+0.337%	$581K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7400	+0.389%	$26K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7210	+0.143%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7073	−0.036%	$25K	$127K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7190	+0.117%	$843K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0316%	1h	7.7300	+0.259%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3177%	1h	7.7339	+0.309%	$506K	$1.0M	25x	as long as short