Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX−0.096%7-day average — · you buy dearer than you sell

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.096% cheaper against SunX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.5840	0.0100	pay 0.0100% / 8h	4h 50m	$2K	$1.3M	20x
Short	dYdX ZEN-USD	7.5767	0	get 0.0000% / 1h	50m 44s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$21
Price spread: −0.096% → 0.000%: −$9.61
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$48.61
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 min ago; dYdX: no order-book sample. 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, 4 min ago	500.59 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDshort	0.0000%	1h	7.5767	−0.096%	$9K	—	5x
OKX ZEN-USDT-SWAP	+0.0094%	4h	7.5700	−0.185%	$2.3M	$5.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5949	+0.144%	$53K	$374K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.5759	−0.107%	$11.0M	$29.9M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.5660	−0.237%	$4.4M	$5.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5900	+0.079%	$11.8M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.5860	+0.026%	$4.1M	$4.4M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5840	0.000%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.5900	+0.079%	—	$3.2M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.5732	−0.143%	$50K	$85K	—	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	7.6070	+0.303%	$574K	$2.0M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6190	+0.461%	$26K	$689K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.5840	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.5899	+0.078%	$24K	$127K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5830	−0.013%	$840K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0255%	1h	7.6046	+0.272%	$2.4M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3115%	1h	7.6109	+0.355%	$498K	$1.0M	25x	as long as short