Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.081%

Price spread now: OKX against Bitget−0.116%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.116%, 7d avg −0.004%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.112% cheaper against Bitget than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.7580	0.0100	pay 0.0100% / 8h	23m 24s	$2.9M	$3.5M	50x
Short	OKX ZEN-USDT-SWAP	7.7490	0.0001	get 0.0000% / 4h	23m 24s	$2.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$20.85
Price spread: −0.116% → −0.004%: −$11.24
Slippage, 4 orders: −$47.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$101.38
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; OKX: 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 Bitget live order book, 4 min ago	3.86 bp	16.2 bp −$16	34.9 bp −$349	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.57 bp	15.3 bp −$15	78.2 bp −$782	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
Variational Omni ZEN	−0.0037%	8h	7.7806	+0.291%	$52K	$85K	—	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7610	+0.038%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0001%	4h	7.7490	−0.116%	$2.3M	$5.8M	50x
KuCoin ZENUSDTM	+0.0014%	8h	7.7570	−0.013%	$4.5M	$4.9M	50x	as long as short
Bybit ZENUSDT	+0.0036%	8h	7.7540	−0.052%	$4.6M	$6.3M	75x	as long as short
Binance ZENUSDT	+0.0070%	8h	7.7580	0.000%	$11.2M	$31.5M	75x	as long as short
MEXC ZEN_USDT	+0.0071%	8h	7.7570	−0.013%	$12.5M	$5.5M	200x	as long as short
Extended ZEN-USD	+0.0072%	1h	7.7573	−0.009%	$25K	$118K	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7670	+0.116%	$53K	$375K	10x	as long as short
Bitget ZENUSDTlong	+0.0100%	8h	7.7580	long leg	$2.9M	$3.5M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7530	−0.064%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7899	+0.411%	$581K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7710	+0.168%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7510	−0.090%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0191%	8h	7.7620	+0.052%	$847K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0462%	1h	7.7702	+0.157%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2645%	1h	7.7919	+0.437%	$510K	$1.0M	25x	as long as short