Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.030%

Price spread now: Bitget against dYdX−0.139%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bitget

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

Funding pays, the price is against you. Bitget is 0.139% cheaper against dYdX than usual: you would sell low and buy high (spread −0.139% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.6707	0	get 0.0000% / 1h	50m 31s	$9K	—	5x
Short	Bitget ZENUSDT	7.6600	0.0032	get 0.0032% / 8h	1h 50m	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.139%Rate

Funding earned: $6.72
Price spread: −0.139% → 0.000%: −$13.89
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.17
Costs to cover: 0.220%
Break-even: 37.4 days

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.30 bp	20.9 bp −$21	42.5 bp −$425	doesn't fit	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
OKX ZEN-USDT-SWAP	−0.0100%	4h	7.6500	−0.269%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0071%	8h	7.6728	+0.029%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0028%	8h	7.6570	−0.178%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.6707	long leg	$9K	—	5x
Binance ZENUSDT	+0.0004%	8h	7.6490	−0.282%	$11.0M	$32.1M	75x	as long as short
MEXC ZEN_USDT	+0.0007%	8h	7.6540	−0.217%	$12.2M	$5.6M	200x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6508	−0.259%	$25K	$110K	5x	as long as short
Bitget ZENUSDTshort	+0.0032%	8h	7.6600	−0.139%	$2.8M	$3.5M	50x
BloFin ZEN-USDT	+0.0037%	8h	7.6510	−0.256%	$835K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0065%	8h	7.6636	−0.092%	$53K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6510	−0.256%	$4.7M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6500	−0.269%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6920	+0.278%	$585K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	+0.004%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6500	−0.269%	$2K	$1.4M	20x	as long as short
Hyperliquid ZEN	+0.0101%	1h	7.6683	−0.031%	$2.4M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1899%	1h	7.6701	−0.007%	$494K	$1.1M	25x	as long as short