Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h +0.018%

Price spread now: Extended against Bybit+0.082%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1211.212% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.082%, 7d avg +0.022%

Together, before fees−0.058%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.060% dearer against Bybit than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.022%): +$6 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	Bybit ZENUSDT	7.6290	0.0096	pay 0.0096% / 8h	2h 46m	$4.6M	$7.2M	75x
Short	Extended ZEN-USD	7.6353	0.0008	get 0.0001% / 1h	46m 10s	$25K	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$18.52
Price spread: +0.082% → +0.022%: $5.99
Slippage, 4 orders: −$105.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$133.69
Costs to cover: 1.212%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 39 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, 2 min ago	3.28 bp	38.3 bp −$38	155.5 bp −$1,555	doesn't fit	doesn't fit
Sell Extended live order book, 39 min ago	2.80 bp	20.6 bp −$21	150.7 bp −$1,507	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	−0.0157%	8h	7.6310	+0.027%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0063%	4h	7.6300	+0.013%	$2.3M	$6.2M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6370	+0.105%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0006%	8h	7.6360	+0.092%	$4.2M	$5.3M	50x	as long as short
Extended ZEN-USDshort	+0.0008%	1h	7.6353	+0.082%	$25K	$110K	5x
Binance ZENUSDT	+0.0009%	8h	7.6350	+0.079%	$10.9M	$33.1M	75x	as long as short
MEXC ZEN_USDT	+0.0010%	8h	7.6340	+0.066%	$12.0M	$6.1M	200x	as long as short
Bitget ZENUSDT	+0.0031%	8h	7.6260	−0.039%	$2.8M	$3.6M	50x	as long as short
BloFin ZEN-USDT	+0.0041%	8h	7.6340	+0.066%	$838K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0054%	8h	7.6320	+0.039%	$54K	$381K	10x	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	+0.0081%	1h	7.6400	+0.144%	$27K	$682K	50x	as long as short
Bybit ZENUSDTlong	+0.0096%	8h	7.6290	long leg	$4.6M	$7.2M	75x
BingX ZEN-USDT	+0.0097%	8h	7.6290	0.000%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6427	+0.180%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6340	+0.066%	$578K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6430	+0.184%	$1K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1136%	1h	7.6595	+0.399%	$493K	$1.1M	25x	as long as short