Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bitget against dYdX+0.917%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.917% dearer against dYdX than usual: you sell high and buy low: +$92 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.6954	0	get 0.0000% / 1h	8m 03s	$9K	—	5x
Short	Bitget ZENUSDT	7.7660	0.0100	get 0.0100% / 8h	4h 08m	$2.9M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.917%Rate

Funding earned: $21
Price spread: +0.917% → 0.000%: $91.71
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $90.71
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	4.58 bp	22.0 bp −$22	33.6 bp −$336	doesn't fit	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 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
KuCoin ZENUSDTM	−0.0112%	8h	7.7720	+0.995%	$4.1M	$3.3M	50x	as long as short
OKX ZEN-USDT-SWAP	−0.0016%	4h	7.7500	+0.709%	$2.3M	$5.0M	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.6954	long leg	$9K	—	5x
MEXC ZEN_USDT	+0.0077%	8h	7.7740	+1.021%	$11.7M	$5.0M	200x	as long as short
Binance ZENUSDT	+0.0078%	8h	7.7674	+0.935%	$11.2M	$27.8M	75x	as long as short
Extended ZEN-USD	+0.0080%	1h	7.7732	+1.010%	$26K	$240K	5x	as long as short
Bybit ZENUSDT	+0.0083%	8h	7.7580	+0.813%	$4.5M	$4.6M	75x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7857	+1.173%	$2.4M	$940K	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7674	+0.935%	$35K	$385K	10x	as long as short
Bitget ZENUSDTshort	+0.0100%	8h	7.7660	+0.917%	$2.9M	$2.7M	50x

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7700	+0.969%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6479	−0.618%	$52K	$56K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6560	−0.512%	$571K	$3.4M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6620	−0.434%	$27K	$661K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7850	+1.164%	$2K	$1.2M	20x	as long as short
BloFin ZEN-USDT	+0.0197%	8h	7.6870	−0.109%	$824K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.0716%	1h	7.7853	+1.168%	$507K	$605K	25x	as long as short