Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.067%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 SunX

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. SunX is 0.067% cheaper against dYdX than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.2 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	7.6781	0	get 0.0000% / 1h	45m 52s	$9K	—	5x
Short	SunX ZEN-USDT	7.6730	0.0100	get 0.0100% / 8h	1h 45m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $21
Price spread: −0.067% → 0.000%: −$6.66
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$3.66
Costs to cover: 0.180%
Break-even: 8.2 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	500.13 bp	doesn't fit	doesn't fit	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
OKX ZEN-USDT-SWAP	−0.0090%	4h	7.6920	+0.181%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0068%	8h	7.6558	−0.290%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0024%	8h	7.6900	+0.155%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.6781	long leg	$9K	—	5x
MEXC ZEN_USDT	+0.0006%	8h	7.6900	+0.155%	$12.3M	$5.6M	200x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6857	+0.099%	$25K	$110K	5x	as long as short
Binance ZENUSDT	+0.0008%	8h	7.6913	+0.172%	$11.0M	$32.0M	75x	as long as short
BloFin ZEN-USDT	+0.0026%	8h	7.6640	−0.184%	$838K	$1.9M	75x	as long as short
Bitget ZENUSDT	+0.0038%	8h	7.6890	+0.142%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0067%	8h	7.6874	+0.121%	$53K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6880	+0.129%	$4.7M	$6.7M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6910	+0.168%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6547	−0.305%	$579K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	−0.093%	$27K	$683K	50x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.6730	−0.067%	$1K	$1.4M	20x
Hyperliquid ZEN	+0.0120%	1h	7.7045	+0.344%	$2.4M	$1.9M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1890%	1h	7.7071	+0.377%	$496K	$1.1M	25x	as long as short