Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.061%

Price spread now: OKX against GRVT+0.323%61s7-day average −0.041% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)−0.737%−$74 · spread now +0.323%, 7d avg −0.041%

Together, before fees−0.845%+ Points / potential airdropGRVT: Active · farm board−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.364% dearer against GRVT than usual: you sell high and buy low (spread +0.323% now, against its 7-day average of −0.041%): +$36 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 9.8 days. At the pace of the last 7 days (−0.108% in total) that is about 24 days. The two prices were read 61 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	GRVT ZEN_USDT_Perp	7.7440	0.0100	pay 0.0100% / 8h	54m 40s	$577K	$1.6M	10x
Short	OKX ZEN-USDT-SWAP	7.7690	−0.0024	pay 0.0012% / 4h	54m 40s	$2.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpFee OKXbpOrdersPrice spread, now +0.323%Rate

Funding earned: −$26.11
Price spread: +0.323% → −0.041%: $36.41
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.7
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: GRVT: live order book, 4 min ago; OKX: live order book, 3 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 GRVT live order book, 4 min ago	307.94 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.94 bp	13.5 bp −$13	87.8 bp −$878	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
Variational Omni ZEN	−0.0038%	8h	7.7410	−0.039%	$51K	$85K	—	as long as short
OKX ZEN-USDT-SWAPshort	−0.0024%	4h	7.7690	+0.323%	$2.3M	$5.8M	50x
KuCoin ZENUSDTM	−0.0005%	8h	7.7790	+0.452%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7815	+0.485%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.7766	+0.422%	$25K	$118K	5x	as long as short
MEXC ZEN_USDT	+0.0035%	8h	7.7800	+0.465%	$12.3M	$5.4M	200x	as long as short
Binance ZENUSDT	+0.0038%	8h	7.7781	+0.441%	$11.2M	$31.6M	75x	as long as short
BingX ZEN-USDT	+0.0079%	8h	7.7760	+0.413%	—	$3.4M	—	as long as short
Bitget ZENUSDT	+0.0081%	8h	7.7730	+0.374%	$2.9M	$3.5M	50x	as long as short
Bybit ZENUSDT	+0.0085%	8h	7.7710	+0.349%	$4.7M	$6.3M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0100%	8h	7.7775	+0.433%	$54K	$376K	10x	as long as short
GRVT ZEN_USDT_Perplong	+0.0100%	8h	7.7440	long leg	$577K	$1.6M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.7420	−0.026%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7810	+0.478%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0144%	8h	7.7400	−0.052%	$835K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0429%	1h	7.7916	+0.615%	$2.4M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2646%	1h	7.7918	+0.618%	$510K	$1.1M	25x	as long as short