Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget−0.024%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and dYdX is 0.024% cheaper against Bitget than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.6990	0.0055	pay 0.0055% / 8h	1h 15m	$2.8M	$3.5M	50x
Short	dYdX ZEN-USD	7.6971	0	get 0.0000% / 1h	15m 59s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$11.55
Price spread: −0.024% → 0.000%: −$2.45
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; dYdX: no order-book sample. 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 Bitget live order book, 2 min ago	3.25 bp	17.1 bp −$17	38.5 bp −$385	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0085%	4h	7.7050	+0.078%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0044%	8h	7.6890	−0.129%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0037%	8h	7.7040	+0.065%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USDshort	0.0000%	1h	7.6971	−0.024%	$9K	—	5x
Binance ZENUSDT	+0.0005%	8h	7.7038	+0.062%	$11.1M	$31.7M	75x	as long as short
MEXC ZEN_USDT	+0.0005%	8h	7.7020	+0.039%	$12.2M	$5.6M	200x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.7017	+0.035%	$25K	$110K	5x	as long as short
BloFin ZEN-USDT	+0.0021%	8h	7.6900	−0.117%	$835K	$1.9M	75x	as long as short
Bitget ZENUSDTlong	+0.0055%	8h	7.6990	long leg	$2.8M	$3.5M	50x
Aster ZENUSDT	+0.0074%	8h	7.6990	0.000%	$53K	$380K	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	+0.0092%	8h	7.6980	−0.013%	$4.7M	$6.4M	75x	as long as short
BingX ZEN-USDT	+0.0095%	8h	7.7050	+0.078%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7224	+0.304%	$2.4M	$1.8M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6960	−0.039%	$574K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7010	+0.026%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7020	+0.039%	$1K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1883%	1h	7.7355	+0.475%	$506K	$1.1M	25x	as long as short