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 +0.024%

Price spread now: Binance against Bybit+0.124%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1111.112% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.124%, 7d avg +0.072%

Together, before fees−0.056%−$6 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: Binance is 0.052% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.7210	0.0100	pay 0.0100% / 8h	5h 56m	$4.6M	$5.8M	75x
Short	Binance ZENUSDT	7.7306	0.0100	get 0.0100% / 8h	5h 56m	$11.2M	$30.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.072%: $5.21
Slippage, 4 orders: −$90.19
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$105.97
Costs to cover: 1.112%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Binance: live order book, 15 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 Bybit live order book, 1 min ago	3.24 bp	40.9 bp −$41	158.4 bp −$1,584	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.64 bp	13.7 bp −$14	35.5 bp −$355	237.9 bp −$23.8K	doesn't fit

ZEN on 16 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	7.7197	−0.017%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0098%	8h	7.7671	+0.598%	$52K	$84K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7164	−0.059%	$55K	$375K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.7306	+0.124%	$11.2M	$30.3M	75x
Bybit ZENUSDTlong	+0.0100%	8h	7.7210	long leg	$4.6M	$5.8M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7140	−0.091%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7250	+0.052%	$12.1M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7240	+0.039%	$4.1M	$4.6M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7230	+0.026%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7210	0.000%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7610	+0.518%	$578K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7570	+0.466%	$26K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7150	−0.078%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7222	+0.016%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0385%	1h	7.7378	+0.218%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3175%	1h	7.7389	+0.232%	$506K	$1.0M	25x	as long as short