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 −0.020%

Price spread now: GRVT against SunX+0.103%74s7-day average −0.055% · you sell dearer than you buy

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

Long on SunX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now +0.103%, 7d avg −0.055%

Together, before fees+0.009%+ Points / potential airdropGRVT: Active · farm board+$1 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: GRVT is 0.158% dearer against SunX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.055%. The two prices were read 74 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	SunX ZEN-USDT	7.7750	0.0100	pay 0.0100% / 8h	6h 07m	$1K	$1.4M	20x
Short	GRVT ZEN_USDT_Perp	7.7830	0.0100	get 0.0100% / 8h	6h 07m	$581K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → −0.055%: $15.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$1.17
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; GRVT: live order book, 1 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, 7 min ago	500.96 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	1.93 bp	36.7 bp −$37	74.3 bp −$743	doesn't fit	doesn't fit

ZEN on 16 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	7.7639	−0.142%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0088%	8h	7.7731	−0.024%	$52K	$84K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7665	−0.110%	$55K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7653	−0.124%	$11.2M	$30.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7550	−0.257%	$4.6M	$5.9M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7530	−0.283%	$2.3M	$5.5M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7650	−0.129%	$12.2M	$5.4M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7650	−0.129%	$4.2M	$4.7M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7630	−0.154%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7580	−0.219%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perpshort	+0.0100%	8h	7.7830	+0.103%	$581K	$1.8M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.7860	+0.141%	$27K	$682K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.7750	long leg	$1K	$1.4M	20x
Extended ZEN-USD	+0.0104%	1h	7.7636	−0.146%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0549%	1h	7.7888	+0.177%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3186%	1h	7.7883	+0.171%	$510K	$1.0M	25x	as long as short