Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.081%

Price spread now: SunX against OKX−0.117%47s7-day average +0.079% · you buy dearer than you sell

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

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now −0.117%, 7d avg +0.079%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.197% cheaper against OKX than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of +0.079%). If the spread goes back, that is −$20 on $10k: about 4.9 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.128% in total) that is about 11 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6880	−0.0033	get 0.0017% / 4h	2h 27m	$2.3M	$6.0M	50x
Short	SunX ZEN-USDT	7.6790	0.0100	get 0.0100% / 8h	2h 27m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.117%Rate

Funding earned: $28.03
Price spread: −0.117% → +0.079%: −$19.66
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$9.63
Costs to cover: 0.180%
Break-even: 9.4 days

Slippage unknown: OKX: live order book, 5 min ago; SunX: live order book, 7 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 OKX live order book, 5 min ago	1.96 bp	20.3 bp −$20	111.2 bp −$1,112	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.07 bp	doesn't fit	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
Variational Omni ZEN	−0.0117%	8h	7.6382	−0.648%	$51K	$219K	—	as long as short
OKX ZEN-USDT-SWAPlong	−0.0033%	4h	7.6880	long leg	$2.3M	$6.0M	50x
dYdX ZEN-USD	0.0000%	1h	7.6808	−0.093%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.6849	−0.040%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0026%	8h	7.6890	+0.013%	$12.1M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0029%	8h	7.6905	+0.033%	$11.0M	$32.4M	75x	as long as short
KuCoin ZENUSDTM	+0.0035%	8h	7.6790	−0.117%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0042%	8h	7.6880	0.000%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0077%	8h	7.6791	−0.115%	$54K	$381K	10x	as long as short
BloFin ZEN-USDT	+0.0096%	8h	7.6600	−0.364%	$834K	$1.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.7005	+0.163%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6860	−0.026%	$4.6M	$6.9M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6830	−0.065%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6580	−0.390%	$583K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6490	−0.507%	$27K	$682K	50x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.6790	−0.117%	$2K	$1.4M	20x
Kraken Futures PF_ZENUSD	+0.1131%	1h	7.6942	+0.081%	$495K	$1.1M	25x	as long as short