Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.005%

Price spread now: dYdX against Bybit+0.080%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

The price spread pays, funding is against you. dYdX is 0.080% dearer against Bybit than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.7200	0.0100	pay 0.0100% / 8h	5h 30m	$4.6M	$5.8M	75x
Short	dYdX ZEN-USD	7.7262	0	get 0.0000% / 1h	30m 00s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$21
Price spread: +0.080% → 0.000%: $8.02
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$33.98
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	4.54 bp	42.4 bp −$42	157.4 bp −$1,574	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
dYdX ZEN-USDshort	0.0000%	1h	7.7262	+0.080%	$9K	—	5x
Variational Omni ZEN	+0.0098%	8h	7.7059	−0.182%	$51K	$83K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7230	+0.039%	$54K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7230	+0.039%	$11.2M	$30.0M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.7200	long leg	$4.6M	$5.8M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7200	0.000%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7230	+0.039%	$12.0M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7260	+0.078%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7260	+0.078%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7240	+0.052%	—	$3.2M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7270	+0.091%	$578K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7180	−0.026%	$26K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7280	+0.104%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7218	+0.024%	$25K	$127K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7150	−0.065%	$849K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0344%	1h	7.7393	+0.250%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3171%	1h	7.7468	+0.347%	$507K	$1.0M	25x	as long as short