Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%

Price spread now: Binance against dYdX+0.045%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.045% dearer against dYdX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.8007	0	get 0.0000% / 1h	15m 43s	$9K	—	5x
Short	Binance ZENUSDT	7.8042	0.0100	get 0.0100% / 8h	7h 15m	$11.4M	$31.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.045%Rate

Funding earned: $21
Price spread: +0.045% → 0.000%: $4.47
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $5.47
Costs to cover: 0.200%
Break-even: 5.2 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 11 min ago. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	0.64 bp	12.3 bp −$12	32.5 bp −$325	251.3 bp −$25.1K	doesn't fit

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDlong	0.0000%	1h	7.8007	long leg	$9K	—	5x
Variational Omni ZEN	+0.0019%	8h	7.7858	−0.191%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.8030	+0.030%	$53K	$379K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.8042	+0.045%	$11.4M	$31.3M	75x
Bybit ZENUSDT	+0.0100%	8h	7.8020	+0.017%	$4.7M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.8030	+0.030%	$2.3M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.8050	+0.055%	$12.5M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.8050	+0.055%	$4.5M	$4.8M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.8010	+0.004%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.8010	+0.004%	—	$3.3M	—	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	7.8070	+0.081%	$584K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8110	+0.132%	$27K	$689K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7810	−0.252%	$2K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.8038	+0.040%	$22K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7790	−0.278%	$844K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0305%	1h	7.8200	+0.248%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2966%	1h	7.8233	+0.291%	$512K	$1.0M	25x	as long as short