Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.044%

Price spread now: SunX against Hyperliquid−0.479%7-day average −0.132% · you buy dearer than you sell

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.359%+$36 · spread now −0.479%, 7d avg −0.132%

Together, before fees+0.313%+ Points / potential airdropHyperliquid: Season 2 · farm board+$31 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.346% cheaper against Hyperliquid than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of −0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZEN	7.6466	0.0100	pay 0.0013% / 1h	52m 47s	$2.4M	$1.3M	5x
Short	SunX ZEN-USDT	7.6100	0.0100	get 0.0100% / 8h	2h 52m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Hyperliquid. 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 HyperliquidbpFee SunXbpOrdersPrice spread, now −0.479%Rate

Funding earned: $0
Price spread: −0.479% → −0.132%: −$34.63
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$51.63
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; SunX: live order book, 11 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 Hyperliquid live order book, 8 min ago	0.46 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	500.72 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
dYdX ZEN-USD	0.0000%	1h	7.6212	−0.332%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0043%	8h	7.6220	−0.322%	$4.0M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0056%	4h	7.6340	−0.165%	$2.2M	$5.2M	50x	as long as short
Hyperliquid ZENlong	+0.0100%	1h	7.6466	long leg	$2.4M	$1.3M	5x
Aster ZENUSDT	+0.0100%	8h	7.6295	−0.223%	$43K	$387K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6347	−0.156%	$10.9M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6320	−0.191%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6330	−0.178%	$11.5M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6300	−0.217%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6260	−0.269%	—	$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	7.6327	−0.182%	$54K	$89K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6340	−0.165%	$574K	$2.3M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6410	−0.073%	$26K	$679K	50x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.6100	−0.479%	$1K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.6299	−0.219%	$22K	$136K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6050	−0.544%	$828K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3102%	1h	7.6459	−0.009%	$493K	$1.0M	25x	as long as short