Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h −0.006%

Price spread now: KuCoin against dYdX−0.093%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 6 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. KuCoin is 0.093% cheaper against dYdX than usual: you would sell low and buy high (spread −0.093% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.7522	0	get 0.0000% / 1h	12m 40s	$9K	—	5x
Short	KuCoin ZENUSDTM	7.7450	0.0083	get 0.0083% / 8h	2h 12m	$4.1M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.093%Rate

Funding earned: $17.43
Price spread: −0.093% → 0.000%: −$9.26
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$13.83
Costs to cover: 0.220%
Break-even: 12.6 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	2.57 bp	45.7 bp −$46	83.8 bp −$838	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	7.7522	long leg	$9K	—	5x
OKX ZEN-USDT-SWAP	+0.0066%	4h	7.7440	−0.106%	$2.3M	$5.3M	50x	as long as short
KuCoin ZENUSDTMshort	+0.0083%	8h	7.7450	−0.093%	$4.1M	$4.1M	50x
Hyperliquid ZEN	+0.0100%	1h	7.7544	+0.029%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7451	−0.091%	$42K	$389K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7451	−0.092%	$11.2M	$30.1M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7410	−0.144%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7440	−0.106%	$11.9M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7460	−0.080%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7470	−0.067%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7942	+0.542%	$56K	$88K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7571	+0.064%	$582K	$2.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7670	+0.191%	$27K	$676K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7500	−0.028%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7437	−0.110%	$25K	$132K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7560	+0.049%	$815K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3056%	1h	7.7620	+0.127%	$496K	$1.0M	25x	as long as short