Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.060%

Price spread now: OKX against SunX−0.261%47s7-day average −0.076% · you buy dearer than you sell

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

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 4 days (all we have)+0.332%+$33 · spread now −0.261%, 7d avg −0.076%

Together, before fees+0.199%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.184% cheaper against SunX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.076%). Swap the legs. 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	SunX ZEN-USDT	7.6690	0.0100	pay 0.0100% / 8h	3h 10m	$2K	$1.3M	20x
Short	OKX ZEN-USDT-SWAP	7.6490	0.0072	get 0.0036% / 4h	3h 10m	$2.2M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.261%Rate

Funding earned: −$5.85
Price spread: −0.261% → −0.076%: −$18.43
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.28
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 min ago; OKX: live order book, 2 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, 4 min ago	500.39 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.65 bp	18.3 bp −$18	86.3 bp −$863	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	7.6646	−0.057%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0063%	8h	7.6560	−0.170%	$4.1M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0072%	4h	7.6490	−0.261%	$2.2M	$5.2M	50x
Aster ZENUSDT	+0.0100%	8h	7.6583	−0.140%	$44K	$385K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6580	−0.144%	$11.0M	$29.7M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6490	−0.261%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6540	−0.196%	$11.7M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6550	−0.183%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6540	−0.196%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6561	−0.168%	$55K	$89K	—	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	7.6700	+0.013%	$576K	$2.3M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	+0.026%	$27K	$683K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.6690	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.6571	−0.155%	$25K	$142K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6620	−0.091%	$827K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0276%	1h	7.6679	−0.014%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2335%	1h	7.6823	+0.173%	$495K	$1.0M	25x	as long as short