Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.025%

Price spread now: Hyperliquid against SunX+0.333%7-day average +0.117% · you sell dearer than you buy

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

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.333%, 7d avg +0.117%

Together, before fees−0.039%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.216% dearer against SunX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.6480	0.0100	pay 0.0100% / 8h	1h 57m	$2K	$1.4M	20x
Short	Hyperliquid ZEN	7.6735	0.0232	get 0.0029% / 1h	57m 18s	$2.4M	$1.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.333%Rate

Funding earned: $27.62
Price spread: +0.333% → +0.117%: $21.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $32.22
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; Hyperliquid: live order book, 4 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	494.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.76 bp	16.0 bp −$16	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
OKX ZEN-USDT-SWAP	−0.0093%	4h	7.6610	+0.170%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0072%	8h	7.6417	−0.082%	$51K	$151K	—	as long as short
KuCoin ZENUSDTM	−0.0018%	8h	7.6600	+0.157%	$4.3M	$5.2M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6592	+0.147%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6635	+0.202%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0010%	8h	7.6570	+0.118%	$12.1M	$5.5M	200x	as long as short
Binance ZENUSDT	+0.0012%	8h	7.6633	+0.200%	$11.0M	$32.2M	75x	as long as short
Bitget ZENUSDT	+0.0032%	8h	7.6630	+0.196%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0047%	8h	7.6570	+0.118%	$840K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0072%	8h	7.6573	+0.122%	$53K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6610	+0.170%	$4.6M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6620	+0.183%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6471	−0.012%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6500	+0.026%	$27K	$683K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.6480	long leg	$2K	$1.4M	20x
Hyperliquid ZENshort	+0.0232%	1h	7.6735	+0.333%	$2.4M	$1.9M	5x
Kraken Futures PF_ZENUSD	+0.1898%	1h	7.6742	+0.343%	$494K	$1.1M	25x	as long as short