Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.044%

Price spread now: BloFin against dYdX+0.052%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 BloFin

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 +$7 a day on $10k at the current rate, and BloFin is 0.052% dearer against dYdX than usual: you sell high and buy low: +$5 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	7.7310	0	get 0.0000% / 1h	26m 59s	$9K	—	5x
Short	BloFin ZEN-USDT	7.7350	0.0220	get 0.0220% / 8h	1h 26m	$837K	$1.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.052%Rate

Funding earned: $46.2
Price spread: +0.052% → 0.000%: $5.18
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $29.38
Costs to cover: 0.220%
Break-even: 2.5 days

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	3.24 bp	13.8 bp −$14	29.1 bp −$291	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 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-USDlong	0.0000%	1h	7.7310	long leg	$9K	—	5x
KuCoin ZENUSDTM	+0.0055%	8h	7.7280	−0.039%	$4.1M	$4.0M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0080%	4h	7.7210	−0.129%	$2.3M	$5.4M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7424	+0.147%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7282	−0.036%	$43K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7267	−0.055%	$11.1M	$30.1M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7190	−0.155%	$4.5M	$5.6M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7260	−0.065%	$12.3M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7300	−0.013%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7220	−0.116%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7171	−0.179%	$55K	$83K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7340	+0.039%	$579K	$2.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7350	+0.052%	$27K	$673K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7320	+0.013%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7247	−0.081%	$22K	$133K	5x	as long as short
BloFin ZEN-USDTshort	+0.0220%	8h	7.7350	+0.052%	$837K	$1.6M	75x
Kraken Futures PF_ZENUSD	+0.2846%	1h	7.7464	+0.199%	$495K	$1.0M	25x	as long as short