Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.035%

Price spread now: OKX against KuCoin−0.116%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 7 days−0.035%−$4 · spread now −0.116%, 7d avg −0.076%

Together, before fees−0.005%$0 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: OKX is 0.039% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.7900	0.0020	pay 0.0020% / 8h	27m 00s	$4.5M	$5.0M	50x
Short	OKX ZEN-USDT-SWAP	7.7810	0.0024	get 0.0012% / 4h	27m 00s	$2.3M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.116%Rate

Funding earned: $0.93
Price spread: −0.116% → −0.076%: −$3.95
Slippage, 4 orders: −$58.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$83.04
Costs to cover: 0.800%
Break-even: 634.5 days

Slippage from KuCoin: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	1.93 bp	24.0 bp −$24	80.0 bp −$800	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.57 bp	15.3 bp −$15	78.2 bp −$782	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	−0.0032%	8h	7.7751	−0.191%	$52K	$85K	—	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7898	−0.002%	$9K	—	5x	as long as short
KuCoin ZENUSDTMlong	+0.0020%	8h	7.7900	long leg	$4.5M	$5.0M	50x
OKX ZEN-USDT-SWAPshort	+0.0024%	4h	7.7810	−0.116%	$2.3M	$5.9M	50x
Bybit ZENUSDT	+0.0052%	8h	7.7840	−0.077%	$4.7M	$6.3M	75x	as long as short
Extended ZEN-USD	+0.0072%	1h	7.7905	+0.007%	$26K	$118K	5x	as long as short
MEXC ZEN_USDT	+0.0072%	8h	7.7880	−0.026%	$12.6M	$5.4M	200x	as long as short
Binance ZENUSDT	+0.0072%	8h	7.7920	+0.026%	$11.3M	$31.5M	75x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7891	−0.012%	$53K	$375K	10x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7890	−0.013%	$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	7.7860	−0.051%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7880	−0.026%	$581K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7930	+0.039%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7870	−0.039%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0192%	8h	7.7870	−0.039%	$851K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0465%	1h	7.8116	+0.277%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2635%	1h	7.8222	+0.414%	$512K	$1.0M	25x	as long as short