Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.024%

Price spread now: KuCoin against OKX+0.194%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1121.120% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days−0.120%−$12 · spread now +0.194%, 7d avg +0.072%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.123% dearer against OKX than usual: you sell high and buy low (spread +0.194% now, against its 7-day average of +0.072%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 7 days (−0.040% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7130	0.0100	pay 0.0050% / 4h	3h 45m	$2.3M	$5.3M	50x
Short	KuCoin ZENUSDTM	7.7280	0.0020	get 0.0020% / 8h	7h 45m	$4.1M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.194%Rate

Funding earned: −$16.8
Price spread: +0.194% → +0.072%: $12.27
Slippage, 4 orders: −$90.02
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$116.55
Costs to cover: 1.120%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	0.65 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.87 bp	34.1 bp −$34	71.5 bp −$715	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	7.7313	+0.238%	$9K	—	5x	as long as short
KuCoin ZENUSDTMshort	+0.0020%	8h	7.7280	+0.194%	$4.1M	$3.8M	50x
Aster ZENUSDT	+0.0100%	8h	7.7332	+0.261%	$42K	$392K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7209	+0.102%	$11.1M	$29.7M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7180	+0.065%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.7130	long leg	$2.3M	$5.3M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.7200	+0.091%	$12.2M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7310	+0.233%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7240	+0.143%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7202	+0.094%	$55K	$69K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7354	+0.291%	$583K	$2.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7400	+0.350%	$27K	$668K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7320	+0.246%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7188	+0.075%	$22K	$234K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7490	+0.467%	$840K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0274%	1h	7.7381	+0.325%	$2.4M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1699%	1h	7.7391	+0.339%	$497K	$752K	25x	as long as short