Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.047%

Price spread now: OKX against Binance+0.005%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$640.640% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 7 days+0.051%+$5 · spread now +0.005%, 7d avg −0.039%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.045% dearer against Binance than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.039%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZENUSDT	7.5726	0.0100	pay 0.0100% / 8h	5h 05m	$10.8M	$27.8M	75x
Short	OKX ZEN-USDT-SWAP	7.5730	0.0079	get 0.0040% / 4h	1h 05m	$2.2M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$4.41
Price spread: +0.005% → −0.039%: $4.46
Slippage, 4 orders: −$43.99
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$63.94
Costs to cover: 0.640%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; OKX: live order book, 5 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 Binance live order book, 13 min ago	0.66 bp	12.4 bp −$12	34.0 bp −$340	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.32 bp	22.6 bp −$23	122.7 bp −$1,227	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
KuCoin ZENUSDTM	−0.0046%	8h	7.5740	+0.019%	$4.1M	$3.3M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.5798	+0.095%	$9K	—	5x	as long as short
ApeX Omni ZENUSDT	+0.0065%	1h	7.5780	+0.071%	$26K	$664K	50x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0079%	4h	7.5730	+0.005%	$2.2M	$4.8M	50x
Hyperliquid ZEN	+0.0100%	1h	7.5918	+0.254%	$2.4M	$991K	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5782	+0.074%	$34K	$386K	10x	as long as short
Binance ZENUSDTlong	+0.0100%	8h	7.5726	long leg	$10.8M	$27.8M	75x
Bybit ZENUSDT	+0.0100%	8h	7.5720	−0.008%	$4.4M	$4.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5750	+0.032%	$11.9M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5660	−0.087%	$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	7.5770	+0.058%	—	$2.8M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.5686	−0.053%	$50K	$54K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.5897	+0.225%	$566K	$3.4M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.5780	+0.071%	$1K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.5711	−0.019%	$22K	$240K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5740	+0.019%	$818K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1159%	1h	7.5878	+0.200%	$488K	$605K	25x	as long as short