Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.048%

Price spread now: Extended against OKX+0.073%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$840.835% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.073%, 7d avg +0.030%

Together, before fees−0.031%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.043% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6260	0.0046	pay 0.0023% / 4h	2h 23m	$2.2M	$5.2M	50x
Short	Extended ZEN-USD	7.6315	0.0104	get 0.0013% / 1h	23m 39s	$22K	$134K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now +0.073%Rate

Funding earned: $12.2
Price spread: +0.073% → +0.030%: $4.32
Slippage, 4 orders: −$68.52
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$67
Costs to cover: 0.835%
Break-even: 45.4 days

Slippage from OKX: live order book, 4 min ago; Extended: live order book, 22 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 OKX live order book, 4 min ago	2.63 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 22 min ago	3.22 bp	19.4 bp −$19	147.5 bp −$1,475	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	7.6214	−0.061%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0046%	4h	7.6260	long leg	$2.2M	$5.2M	50x
KuCoin ZENUSDTM	+0.0068%	8h	7.6350	+0.118%	$4.1M	$4.1M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6465	+0.269%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6349	+0.117%	$43K	$389K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6320	+0.079%	$10.9M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6260	0.000%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6320	+0.079%	$11.5M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6340	+0.105%	$2.8M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6300	+0.052%	—	$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	7.5972	−0.377%	$54K	$89K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6110	−0.197%	$578K	$2.4M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6090	−0.223%	$26K	$677K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6470	+0.275%	$2K	$1.3M	20x	as long as short
Extended ZEN-USDshort	+0.0104%	1h	7.6315	+0.073%	$22K	$134K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.6340	+0.105%	$819K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3095%	1h	7.6637	+0.495%	$490K	$1.0M	25x	as long as short