Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.016%

Price spread now: Bitget against Extended+0.136%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$740.736% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.136%, 7d avg +0.030%

Together, before fees−0.084%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bitget is 0.106% dearer against Extended than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6715	0	get 0.0000% / 1h	27m 43s	$25K	$110K	5x
Short	Bitget ZENUSDT	7.6820	0.0041	get 0.0041% / 8h	1h 27m	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now +0.136%Rate

Funding earned: $8.61
Price spread: +0.136% → +0.030%: $10.64
Slippage, 4 orders: −$56.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$54.39
Costs to cover: 0.736%
Break-even: 51.2 days

Slippage from Extended: live order book, 53 min ago; Bitget: live order book, 5 min ago.

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 Extended live order book, 53 min ago	2.02 bp	19.6 bp −$20	190.3 bp −$1,903	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.26 bp	18.8 bp −$19	34.2 bp −$342	doesn't fit	doesn't fit

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	−0.0116%	4h	7.6680	−0.046%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0053%	8h	7.6615	−0.130%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0047%	8h	7.6790	+0.097%	$4.3M	$5.0M	50x	as long as short
MEXC ZEN_USDT	−0.0003%	8h	7.6740	+0.032%	$12.2M	$5.6M	200x	as long as short
Binance ZENUSDT	−0.0001%	8h	7.6730	+0.019%	$11.1M	$31.8M	75x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6890	+0.228%	$9K	—	5x	as long as short
Extended ZEN-USDlong	0.0000%	1h	7.6715	long leg	$25K	$110K	5x
Bitget ZENUSDTshort	+0.0041%	8h	7.6820	+0.136%	$2.8M	$3.5M	50x
Aster ZENUSDT	+0.0063%	8h	7.6820	+0.136%	$53K	$380K	10x	as long as short
Bybit ZENUSDT	+0.0096%	8h	7.6750	+0.045%	$4.7M	$6.6M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6897	+0.237%	$2.4M	$1.8M	5x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6780	+0.084%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6603	−0.146%	$579K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6830	+0.149%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6840	+0.162%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0113%	8h	7.6710	−0.007%	$840K	$1.9M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1891%	1h	7.7038	+0.420%	$504K	$1.1M	25x	as long as short