Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0093%/8h= −10.1% APRpaid last 24h −0.065%

Price spread now: OKX against Extended−0.053%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.053%, 7d avg −0.026%

Together, before fees+0.015%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.026% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6710	0	get 0.0000% / 1h	48m 23s	$25K	$110K	5x
Short	OKX ZEN-USDT-SWAP	7.6670	−0.0093	pay 0.0046% / 4h	1h 48m	$2.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$19.46
Price spread: −0.053% → −0.026%: −$2.64
Slippage, 4 orders: −$59.92
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$97.02
Costs to cover: 0.749%
Break-even: never at this rate

Slippage from Extended: live order book, 32 min ago; OKX: live order book, 4 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, 32 min ago	2.02 bp	19.6 bp −$20	190.3 bp −$1,903	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.96 bp	16.8 bp −$17	81.6 bp −$816	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-SWAPshort	−0.0093%	4h	7.6670	−0.053%	$2.3M	$5.8M	50x
Variational Omni ZEN	−0.0068%	8h	7.6558	−0.198%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0024%	8h	7.6710	0.000%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6707	−0.005%	$9K	—	5x	as long as short
Extended ZEN-USDlong	0.0000%	1h	7.6710	long leg	$25K	$110K	5x
MEXC ZEN_USDT	+0.0003%	8h	7.6690	−0.027%	$12.2M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0004%	8h	7.6723	+0.016%	$11.0M	$32.0M	75x	as long as short
BloFin ZEN-USDT	+0.0015%	8h	7.6720	+0.013%	$839K	$1.9M	75x	as long as short
Bitget ZENUSDT	+0.0034%	8h	7.6700	−0.013%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0063%	8h	7.6712	+0.002%	$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	7.6690	−0.027%	$4.7M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6670	−0.053%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6547	−0.213%	$579K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	0.000%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6570	−0.183%	$1K	$1.4M	20x	as long as short
Hyperliquid ZEN	+0.0117%	1h	7.6862	+0.198%	$2.4M	$1.9M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1892%	1h	7.6987	+0.361%	$495K	$1.1M	25x	as long as short