Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Binance against Extended−0.001%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.001%, 7d avg +0.051%

Together, before fees+0.053%+ Points / potential airdropExtended: Active · farm board+$5 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: Binance is 0.052% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.7025	0.0104	pay 0.0013% / 1h	53m 54s	$22K	$117K	5x
Short	Binance ZENUSDT	7.7024	0.0100	get 0.0100% / 8h	6h 53m	$11.1M	$31.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.001%Rate

Funding earned: −$0.84
Price spread: −0.001% → +0.051%: −$5.21
Slippage, 4 orders: −$54.65
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$75.71
Costs to cover: 0.697%
Break-even: never at this rate

Slippage from Extended: live order book, 12 min ago; Binance: live order book, 3 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, 12 min ago	2.76 bp	19.2 bp −$19	175.2 bp −$1,752	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.65 bp	15.7 bp −$16	46.9 bp −$469	262.5 bp −$26.2K	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
ApeX Omni ZENUSDT	−0.0705%	1h	7.7420	+0.513%	$26K	$688K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7012	−0.017%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0044%	8h	7.6923	−0.133%	$51K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6874	−0.196%	$55K	$382K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.7024	−0.001%	$11.1M	$31.5M	75x
Bybit ZENUSDT	+0.0100%	8h	7.7030	+0.006%	$4.6M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7040	+0.019%	$2.3M	$5.6M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7060	+0.045%	$12.2M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7040	+0.019%	$4.4M	$4.8M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7090	+0.084%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7010	−0.020%	—	$3.3M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7109	+0.109%	$574K	$1.7M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6820	−0.266%	$1K	$1.4M	20x	as long as short
Extended ZEN-USDlong	+0.0104%	1h	7.7025	long leg	$22K	$117K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.6840	−0.240%	$860K	$1.7M	75x	as long as short
Hyperliquid ZEN	+0.0447%	1h	7.7228	+0.263%	$2.4M	$1.7M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3211%	1h	7.7274	+0.323%	$506K	$1.0M	25x	as long as short