Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.045%

Price spread now: Hyperliquid against Aster+0.260%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$800.801% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)−0.412%−$41 · spread now +0.260%, 7d avg +0.103%

Together, before fees−0.331%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$33 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: Hyperliquid is 0.157% dearer against Aster than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZENUSDT	7.6614	0.0100	pay 0.0100% / 8h	5h 58m	$37K	$384K	10x
Short	Hyperliquid ZEN	7.6813	0.0100	get 0.0013% / 1h	58m 05s	$2.4M	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now +0.260%Rate

Funding earned: $0
Price spread: +0.260% → +0.103%: $15.67
Slippage, 4 orders: −$63.09
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$64.42
Costs to cover: 0.801%
Break-even: never at this rate

Slippage from Aster: live order book, 52 min ago; Hyperliquid: live order book, 6 min ago.

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 Aster live order book, 52 min ago	8.52 bp	24.5 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.56 bp	13.5 bp −$14	doesn't fit	doesn't fit	doesn't fit

ZEN on 17 exchanges

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	7.6638	+0.031%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0020%	8h	7.6650	+0.047%	$4.2M	$3.5M	50x	as long as short
ApeX Omni ZENUSDT	+0.0026%	1h	7.6550	−0.084%	$26K	$666K	50x	as long as short
Hyperliquid ZENshort	+0.0100%	1h	7.6813	+0.260%	$2.4M	$1.0M	5x
Aster ZENUSDTlong	+0.0100%	8h	7.6614	long leg	$37K	$384K	10x
Binance ZENUSDT	+0.0100%	8h	7.6620	+0.008%	$11.0M	$28.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6570	−0.058%	$4.5M	$4.9M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6620	+0.008%	$2.2M	$4.9M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6640	+0.034%	$12.1M	$4.7M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6700	+0.112%	$2.8M	$2.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.6640	+0.034%	—	$2.8M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6477	−0.179%	$50K	$55K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6656	+0.055%	$581K	$3.2M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6710	+0.125%	$2K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6616	+0.003%	$22K	$236K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6610	−0.005%	$831K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1146%	1h	7.6782	+0.218%	$493K	$604K	25x	as long as short