Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Aster against Extended−0.007%7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$2962.955% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.007%, 7d avg +0.072%

Together, before fees+0.129%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.079% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.8068	0.0104	pay 0.0013% / 1h	21m 03s	$22K	$121K	5x
Short	Aster ZENUSDT	7.8063	0.0100	get 0.0100% / 8h	7h 21m	$53K	$379K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$0.84
Price spread: −0.007% → +0.072%: −$7.85
Slippage, 4 orders: −$282.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$304.22
Costs to cover: 2.955%
Break-even: never at this rate

Slippage from Extended: live order book, 49 min ago; Aster: live order book, 51 min ago.

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 Extended live order book, 49 min ago	3.36 bp	19.5 bp −$19	177.7 bp −$1,777	doesn't fit	doesn't fit
Sell Aster live order book, 51 min ago	7.11 bp	236.4 bp −$236	doesn't fit	doesn't fit	doesn't fit

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-USD	0.0000%	1h	7.8007	−0.078%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0011%	8h	7.8012	−0.071%	$52K	$85K	—	as long as short
Aster ZENUSDTshort	+0.0100%	8h	7.8063	−0.007%	$53K	$379K	10x
Binance ZENUSDT	+0.0100%	8h	7.8070	+0.003%	$11.3M	$31.3M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.8040	−0.036%	$4.7M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.8040	−0.036%	$2.3M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.8070	+0.003%	$12.5M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.8100	+0.041%	$4.5M	$4.8M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.8040	−0.036%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.8060	−0.010%	—	$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	7.7990	−0.100%	$586K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8070	+0.003%	$27K	$689K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.8010	−0.074%	$2K	$1.4M	20x	as long as short
Extended ZEN-USDlong	+0.0104%	1h	7.8068	long leg	$22K	$121K	5x
Hyperliquid ZEN	+0.0215%	1h	7.8282	+0.274%	$2.5M	$1.8M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.8060	−0.010%	$852K	$1.8M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2960%	1h	7.8380	+0.400%	$513K	$1.0M	25x	as long as short