Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.042%

Price spread now: BloFin against dYdX+0.004%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 BloFin

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.6597	0	get 0.0000% / 1h	28m 54s	$9K	—	5x
Short	BloFin ZEN-USDT	7.6600	0.0096	get 0.0096% / 8h	2h 28m	$834K	$1.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.004%Rate

Funding earned: $20.24
Price spread: +0.004% → 0.000%: $0.4
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$1.36
Costs to cover: 0.220%
Break-even: 7.5 days

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 4 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 BloFin live order book, 4 min ago	1.96 bp	12.0 bp −$12	26.2 bp −$262	68.3 bp −$6,830	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
Variational Omni ZEN	−0.0117%	8h	7.6382	−0.281%	$51K	$219K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0043%	4h	7.6720	+0.161%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.6597	long leg	$9K	—	5x
MEXC ZEN_USDT	+0.0021%	8h	7.6710	+0.148%	$12.1M	$6.1M	200x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.6711	+0.149%	$25K	$110K	5x	as long as short
Binance ZENUSDT	+0.0024%	8h	7.6740	+0.186%	$11.0M	$32.6M	75x	as long as short
KuCoin ZENUSDTM	+0.0030%	8h	7.6690	+0.121%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0039%	8h	7.6700	+0.135%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0075%	8h	7.6684	+0.113%	$54K	$381K	10x	as long as short
BloFin ZEN-USDTshort	+0.0096%	8h	7.6600	+0.004%	$834K	$1.9M	75x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6875	+0.363%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6660	+0.082%	$4.6M	$7.0M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6700	+0.135%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6580	−0.022%	$583K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6490	−0.140%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6720	+0.161%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1133%	1h	7.6806	+0.272%	$494K	$1.1M	25x	as long as short