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 +0.019%

Price spread now: Binance against dYdX−0.139%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

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

Funding pays, the price is against you. Binance is 0.139% cheaper against dYdX than usual: you would sell low and buy high (spread −0.139% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.7187	0	get 0.0000% / 1h	55m 33s	$9K	—	5x
Short	Binance ZENUSDT	7.7080	0.0100	get 0.0100% / 8h	5h 55m	$11.2M	$30.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.139%Rate

Funding earned: $21
Price spread: −0.139% → 0.000%: −$13.92
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$12.92
Costs to cover: 0.200%
Break-even: 11.3 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 1 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	1.29 bp	13.1 bp −$13	30.7 bp −$307	235.4 bp −$23.5K	doesn't fit

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 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
ApeX Omni ZENUSDT	−0.0082%	1h	7.7130	−0.074%	$26K	$682K	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.7187	long leg	$9K	—	5x
Aster ZENUSDT	+0.0100%	8h	7.7258	+0.092%	$55K	$375K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.7080	−0.139%	$11.2M	$30.3M	75x
Bybit ZENUSDT	+0.0100%	8h	7.7040	−0.191%	$4.6M	$5.8M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7030	−0.204%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7130	−0.074%	$12.1M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7210	+0.029%	$4.1M	$4.6M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7160	−0.035%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7090	−0.126%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7332	+0.188%	$52K	$84K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7233	+0.060%	$575K	$1.8M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7430	+0.314%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7068	−0.154%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0385%	1h	7.7272	+0.110%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3164%	1h	7.7640	+0.586%	$508K	$1.0M	25x	as long as short