Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.078%

Price spread now: Hyperliquid against KuCoin+0.124%7-day average +0.021% · you sell dearer than you buy

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

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.209%+$21 on $10k

Price spread, last 7 days−0.272%−$27 · spread now +0.124%, 7d avg +0.021%

Together, before fees−0.062%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.103% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.7360	0.0066	pay 0.0066% / 8h	1h 42m	$4.1M	$4.1M	50x
Short	Hyperliquid ZEN	7.7456	0.0100	get 0.0013% / 1h	42m 54s	$2.4M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.124%Rate

Funding earned: $7.14
Price spread: +0.124% → +0.021%: $10.29
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$3.57
Costs to cover: 0.210%
Break-even: 10.5 days

Slippage unknown: KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 8 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 KuCoin live order book, 5 min ago	4.53 bp	54.3 bp −$54	103.4 bp −$1,034	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.00 bp	13.6 bp −$14	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	7.7393	+0.043%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0053%	4h	7.7200	−0.207%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTMlong	+0.0066%	8h	7.7360	long leg	$4.1M	$4.1M	50x
Hyperliquid ZENshort	+0.0100%	1h	7.7456	+0.124%	$2.4M	$1.3M	5x
Aster ZENUSDT	+0.0100%	8h	7.7470	+0.143%	$44K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7314	−0.060%	$11.2M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7330	−0.039%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7350	−0.013%	$11.9M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7320	−0.052%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7330	−0.039%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7271	−0.114%	$55K	$83K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7271	−0.115%	$575K	$2.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7500	+0.181%	$27K	$674K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7410	+0.065%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7330	−0.038%	$22K	$129K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7450	+0.116%	$834K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2842%	1h	7.7588	+0.295%	$496K	$1.0M	25x	as long as short