Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.035%

Price spread now: BingX against Bybit+0.013%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1091.090% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.013%, 7d avg +0.048%

Together, before fees+0.103%+$10 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: BingX is 0.034% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6470	0.0100	pay 0.0100% / 8h	5h 56m	$4.5M	$4.9M	75x
Short	BingX ZEN-USDT	7.6480	0.0100	get 0.0100% / 8h	5h 56m	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → +0.048%: −$3.45
Slippage, 4 orders: −$87.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$112.43
Costs to cover: 1.090%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; BingX: live order book, 7 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, 5 min ago	1.96 bp	38.4 bp −$38	457.0 bp −$4,570	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	3.26 bp	15.6 bp −$16	32.3 bp −$323	151.2 bp −$15.1K	428.4 bp −$214.2K

ZEN on 17 exchanges

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	7.6657	+0.245%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0019%	8h	7.6520	+0.065%	$4.2M	$3.5M	50x	as long as short
ApeX Omni ZENUSDT	+0.0023%	1h	7.6680	+0.275%	$27K	$665K	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6628	+0.207%	$2.4M	$1.0M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6580	+0.144%	$37K	$384K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6472	+0.003%	$11.0M	$28.0M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6470	long leg	$4.5M	$4.9M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6460	−0.013%	$2.2M	$4.9M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6500	+0.039%	$12.1M	$4.8M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6590	+0.157%	$2.8M	$2.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDTshort	+0.0100%	8h	7.6480	+0.013%	—	$2.8M	—
Variational Omni ZEN	+0.0100%	8h	7.6477	+0.009%	$50K	$55K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6760	+0.379%	$573K	$3.2M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6560	+0.118%	$2K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6465	−0.007%	$22K	$236K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6650	+0.235%	$830K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1148%	1h	7.6622	+0.198%	$492K	$604K	25x	as long as short