Funding arb · Price arb /

ZEN

all ZEN markets

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 −0.035%

Price spread now: Bybit against BingX0.000%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1201.200% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 7 days0.000%$0 · spread now 0.000%, 7d avg −0.047%

Together, before fees−0.081%−$8 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: Bybit is 0.047% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEN-USDT	7.7200	0.0100	pay 0.0100% / 8h	5h 33m	—	$3.2M	—
Short	Bybit ZENUSDT	7.7200	0.0100	get 0.0100% / 8h	5h 33m	$4.6M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.047%: $4.72
Slippage, 4 orders: −$99
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$115.28
Costs to cover: 1.200%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; Bybit: live order book, 4 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 BingX live order book, 1 min ago	4.54 bp	18.7 bp −$19	37.2 bp −$372	318.8 bp −$31.9K	461.2 bp −$230.6K
Sell Bybit live order book, 4 min ago	3.25 bp	42.0 bp −$42	168.4 bp −$1,684	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	7.7165	−0.046%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0094%	8h	7.7020	−0.233%	$51K	$83K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7159	−0.053%	$53K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7246	+0.059%	$11.2M	$30.0M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.7200	0.000%	$4.6M	$5.8M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7220	+0.026%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7230	+0.039%	$12.0M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7140	−0.078%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7200	0.000%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDTlong	+0.0100%	8h	7.7200	long leg	—	$3.2M	—

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	7.7141	−0.076%	$577K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7180	−0.026%	$26K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7120	−0.104%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7226	+0.034%	$25K	$127K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7130	−0.091%	$852K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0328%	1h	7.7331	+0.170%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3174%	1h	7.7397	+0.255%	$506K	$1.0M	25x	as long as short