Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.015%

Price spread now: BingX against Extended−0.046%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$710.707% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.046%, 7d avg +0.025%

Together, before fees−0.096%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.071% cheaper against Extended than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.025%). If the spread goes back, that is −$7 on $10k: about 2.8 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.060% in total) that is about 8.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6545	0.0016	pay 0.0002% / 1h	53m 25s	$25K	$110K	5x
Short	BingX ZEN-USDT	7.6510	0.0100	get 0.0100% / 8h	2h 53m	—	$3.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $17.64
Price spread: −0.046% → +0.025%: −$7.07
Slippage, 4 orders: −$55.71
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$60.14
Costs to cover: 0.707%
Break-even: 30.9 days

Slippage from Extended: live order book, 31 min ago; BingX: live order book, 12 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, 31 min ago	2.80 bp	21.0 bp −$21	193.4 bp −$1,934	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	2.61 bp	12.9 bp −$13	29.0 bp −$290	221.9 bp −$22.2K	458.7 bp −$229.3K

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	−0.0165%	8h	7.6195	−0.458%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0025%	4h	7.6480	−0.085%	$2.3M	$6.5M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6489	−0.073%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0011%	8h	7.6560	+0.020%	$12.1M	$6.0M	200x	as long as short
Binance ZENUSDT	+0.0013%	8h	7.6553	+0.010%	$11.0M	$33.8M	75x	as long as short
Extended ZEN-USDlong	+0.0016%	1h	7.6545	long leg	$25K	$110K	5x
KuCoin ZENUSDTM	+0.0017%	8h	7.6580	+0.046%	$4.3M	$5.3M	50x	as long as short
Bitget ZENUSDT	+0.0039%	8h	7.6540	−0.006%	$2.8M	$3.7M	50x	as long as short
BloFin ZEN-USDT	+0.0045%	8h	7.6640	+0.124%	$842K	$2.0M	75x	as long as short
Aster ZENUSDT	+0.0058%	8h	7.6549	+0.005%	$54K	$388K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6770	+0.294%	$2.4M	$2.1M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6530	−0.020%	$4.6M	$7.5M	75x	as long as short
BingX ZEN-USDTshort	+0.0100%	8h	7.6510	−0.046%	—	$3.4M	—
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6518	−0.035%	$580K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6310	−0.307%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6370	−0.229%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6516	−0.038%	$492K	$1.1M	25x	as long as short