Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%

Price spread now: GRVT against KuCoin−0.368%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on KuCoin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)+1.674%+$167 · spread now −0.368%, 7d avg −0.044%

Together, before fees+1.817%+ Points / potential airdropGRVT: Active · farm board+$182 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: GRVT is 0.324% cheaper against KuCoin than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.8250	0.0100	pay 0.0100% / 8h	6h 23m	$4.5M	$4.7M	50x
Short	GRVT ZEN_USDT_Perp	7.7962	0.0100	get 0.0100% / 8h	6h 23m	$581K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against KuCoin. 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 KuCoinbpFee GRVTbpOrdersPrice spread, now −0.368%Rate

Funding earned: $0
Price spread: −0.368% → −0.044%: −$32.4
Slippage, 4 orders: −$92.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$146.25
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; GRVT: live order book, 5 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 KuCoin live order book, 10 min ago	3.88 bp	39.3 bp −$39	98.5 bp −$985	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	1.93 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit

ZEN on 16 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	7.8176	−0.095%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0074%	8h	7.7907	−0.438%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.8201	−0.063%	$56K	$383K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.8214	−0.046%	$11.3M	$31.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.8160	−0.115%	$4.6M	$6.0M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.8170	−0.102%	$2.4M	$5.6M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.8230	−0.026%	$12.2M	$5.3M	200x	as long as short
KuCoin ZENUSDTMlong	+0.0100%	8h	7.8250	long leg	$4.5M	$4.7M	50x
Bitget ZENUSDT	+0.0100%	8h	7.8240	−0.013%	$3.0M	$3.5M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.8200	−0.064%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perpshort	+0.0100%	8h	7.7962	−0.368%	$581K	$1.8M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.8170	−0.102%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.8230	−0.026%	$2K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.8191	−0.075%	$28K	$120K	5x	as long as short
Hyperliquid ZEN	+0.0410%	1h	7.8467	+0.277%	$2.5M	$1.6M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3161%	1h	7.8499	+0.318%	$514K	$1.0M	25x	as long as short