Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: GRVT against dYdX−0.379%50s7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.379% cheaper against dYdX than usual: you would sell low and buy high (spread −0.379% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 13 days of funding at the current rate (+$3 a day). The two prices were read 50 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	dYdX ZEN-USD	7.6650	0	get 0.0000% / 1h	1m 44s	$9K	—	5x
Short	GRVT ZEN_USDT_Perp	7.6360	0.0100	get 0.0100% / 8h	4h 01m	$572K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.379%Rate

Funding earned: $21
Price spread: −0.379% → 0.000%: −$37.89
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$35.89
Costs to cover: 0.190%
Break-even: 19.0 days

Slippage unknown: dYdX: no order-book sample; GRVT: 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 GRVT live order book, 2 min ago	1.96 bp	50.7 bp −$51	doesn't fit	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
dYdX ZEN-USDlong	0.0000%	1h	7.6650	long leg	$9K	—	5x
OKX ZEN-USDT-SWAP	+0.0064%	4h	7.6720	+0.091%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTM	+0.0078%	8h	7.6700	+0.065%	$4.1M	$4.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6624	−0.034%	$51K	$377K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6723	+0.094%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6690	+0.052%	$4.5M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6680	+0.039%	$11.6M	$5.1M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6760	+0.143%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6530	−0.157%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6292	−0.468%	$54K	$89K	—	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_Perpshort	+0.0100%	8h	7.6360	−0.379%	$572K	$2.1M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.6410	−0.314%	$26K	$681K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6670	+0.026%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6658	+0.010%	$22K	$144K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6610	−0.053%	$831K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0361%	1h	7.6941	+0.379%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3083%	1h	7.6877	+0.296%	$498K	$999K	25x	as long as short