Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0176%/8h= −19.2% APRpaid last 24h −0.093%

Price spread now: OKX against BloFin+0.077%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.288%−$29 on $10k

Price spread, last 3 days (all we have)−0.183%−$18 · spread now +0.077%, 7d avg −0.053%

Together, before fees−0.470%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.130% dearer against BloFin than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.053%): +$13 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.7810	0.0174	pay 0.0174% / 8h	40m 43s	$846K	$1.8M	75x
Short	OKX ZEN-USDT-SWAP	7.7870	−0.0002	pay 0.0001% / 4h	40m 43s	$2.3M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$36.89
Price spread: +0.077% → −0.053%: $13.03
Slippage, 4 orders: −$42.73
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$88.58
Costs to cover: 0.647%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; OKX: live order book, 2 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 BloFin live order book, 2 min ago	2.57 bp	18.0 bp −$18	30.6 bp −$306	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.93 bp	17.0 bp −$17	90.9 bp −$909	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	−0.0031%	8h	7.7815	+0.007%	$52K	$85K	—	as long as short
OKX ZEN-USDT-SWAPshort	−0.0002%	4h	7.7870	+0.077%	$2.3M	$5.9M	50x
dYdX ZEN-USD	0.0000%	1h	7.7911	+0.129%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	0.0000%	8h	7.7940	+0.167%	$4.4M	$4.9M	50x	as long as short
MEXC ZEN_USDT	+0.0053%	8h	7.7990	+0.231%	$12.5M	$5.4M	200x	as long as short
Binance ZENUSDT	+0.0055%	8h	7.7961	+0.194%	$11.3M	$31.5M	75x	as long as short
Extended ZEN-USD	+0.0056%	1h	7.7946	+0.175%	$26K	$118K	5x	as long as short
Bybit ZENUSDT	+0.0070%	8h	7.7870	+0.077%	$4.7M	$6.3M	75x	as long as short
BingX ZEN-USDT	+0.0094%	8h	7.7870	+0.077%	—	$3.4M	—	as long as short
Bitget ZENUSDT	+0.0099%	8h	7.7930	+0.154%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0100%	8h	7.7961	+0.194%	$53K	$375K	10x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7910	+0.129%	$591K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7910	+0.129%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7910	+0.129%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDTlong	+0.0174%	8h	7.7810	long leg	$846K	$1.8M	75x
Hyperliquid ZEN	+0.0425%	1h	7.8130	+0.411%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2635%	1h	7.8221	+0.528%	$512K	$1.0M	25x	as long as short