Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%

Price spread now: Bybit against SunX−0.264%7-day average −0.066% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.372%+$37 · spread now −0.264%, 7d avg −0.066%

Together, before fees+0.291%+$29 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: Bybit is 0.198% cheaper against SunX than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.5810	0.0100	pay 0.0100% / 8h	2h 39m	$2K	$1.3M	20x
Short	Bybit ZENUSDT	7.5610	0.0100	get 0.0100% / 8h	2h 39m	$4.4M	$5.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.264%Rate

Funding earned: $0
Price spread: −0.264% → −0.066%: −$19.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.83
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Bybit: live order book, 3 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 SunX live order book, 5 min ago	500.39 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.66 bp	31.5 bp −$32	207.7 bp −$2,077	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	7.5711	−0.130%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0056%	8h	7.5650	−0.211%	$4.0M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0065%	4h	7.5710	−0.132%	$2.2M	$5.1M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.5852	+0.055%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5711	−0.130%	$43K	$387K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.5711	−0.131%	$10.8M	$29.8M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.5610	−0.264%	$4.4M	$5.7M	75x
MEXC ZEN_USDT	+0.0100%	8h	7.5690	−0.158%	$11.4M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5610	−0.264%	$2.8M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.5730	−0.106%	—	$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	7.5713	−0.129%	$54K	$89K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.5728	−0.108%	$568K	$2.4M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.5860	+0.066%	$26K	$679K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.5810	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.5691	−0.157%	$22K	$134K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5850	+0.053%	$820K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3123%	1h	7.5934	+0.164%	$485K	$1.0M	25x	as long as short