Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: GRVT against Bybit−0.149%90s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1321.317% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 3 days (all we have)+0.661%+$66 · spread now −0.149%, 7d avg +0.033%

Together, before fees+0.718%+ Points / potential airdropGRVT: Active · farm board+$72 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: GRVT is 0.182% cheaper against Bybit than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6640	0.0100	pay 0.0100% / 8h	2h 38m	$4.6M	$7.1M	75x
Short	GRVT ZEN_USDT_Perp	7.6526	0.0100	get 0.0100% / 8h	2h 38m	$582K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.149%Rate

Funding earned: $0
Price spread: −0.149% → +0.033%: −$18.19
Slippage, 4 orders: −$111.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$149.88
Costs to cover: 1.317%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; GRVT: live order book, 5 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, 5 min ago	2.61 bp	40.7 bp −$41	316.9 bp −$3,169	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	1.96 bp	24.7 bp −$25	50.3 bp −$503	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	−0.0142%	8h	7.6510	−0.169%	$51K	$219K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0055%	4h	7.6630	−0.013%	$2.3M	$6.1M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6511	−0.168%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6636	−0.005%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0016%	8h	7.6620	−0.026%	$12.1M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0017%	8h	7.6646	+0.007%	$11.0M	$32.8M	75x	as long as short
KuCoin ZENUSDTM	+0.0017%	8h	7.6600	−0.052%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0036%	8h	7.6620	−0.026%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0063%	8h	7.6520	−0.157%	$54K	$381K	10x	as long as short
BloFin ZEN-USDT	+0.0064%	8h	7.6450	−0.248%	$835K	$1.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0097%	8h	7.6560	−0.104%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6807	+0.218%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6640	long leg	$4.6M	$7.1M	75x
GRVT ZEN_USDT_Perpshort	+0.0100%	8h	7.6526	−0.149%	$582K	$1.6M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.6530	−0.144%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6660	+0.026%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1132%	1h	7.6848	+0.271%	$494K	$1.1M	25x	as long as short