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 +0.016%

Price spread now: SunX against Extended−0.141%7-day average +0.051% · you buy dearer than you sell

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

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 3 days (all we have)+0.275%+$28 · spread now −0.141%, 7d avg +0.051%

Together, before fees+0.335%+ Points / potential airdropExtended: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.192% cheaper against Extended than usual: you would sell low and buy high (spread −0.141% now, against its 7-day average of +0.051%). If the spread goes back, that is −$19 on $10k: about 6.4 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.060% in total) that is about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6678	0	get 0.0000% / 1h	49m 19s	$25K	$110K	5x
Short	SunX ZEN-USDT	7.6570	0.0100	get 0.0100% / 8h	1h 49m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.141%Rate

Funding earned: $21
Price spread: −0.141% → +0.051%: −$19.18
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$11.18
Costs to cover: 0.130%
Break-even: 10.7 days

Slippage unknown: Extended: live order book, 31 min ago; SunX: live order book, 5 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 Extended live order book, 31 min ago	2.02 bp	19.6 bp −$20	190.3 bp −$1,903	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	500.13 bp	doesn't fit	doesn't fit	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	−0.0098%	4h	7.6650	−0.037%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0068%	8h	7.6558	−0.156%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0026%	8h	7.6660	−0.024%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6707	+0.037%	$9K	—	5x	as long as short
Extended ZEN-USDlong	0.0000%	1h	7.6678	long leg	$25K	$110K	5x
MEXC ZEN_USDT	+0.0003%	8h	7.6710	+0.041%	$12.2M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0004%	8h	7.6705	+0.035%	$11.0M	$32.1M	75x	as long as short
BloFin ZEN-USDT	+0.0015%	8h	7.6720	+0.054%	$839K	$1.9M	75x	as long as short
Bitget ZENUSDT	+0.0033%	8h	7.6690	+0.015%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0061%	8h	7.6706	+0.036%	$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	7.6680	+0.002%	$4.7M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6630	−0.063%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6547	−0.171%	$579K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	+0.041%	$27K	$684K	50x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.6570	−0.141%	$1K	$1.4M	20x
Hyperliquid ZEN	+0.0120%	1h	7.6824	+0.190%	$2.4M	$1.9M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1892%	1h	7.6987	+0.403%	$495K	$1.1M	25x	as long as short