Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.006%

Price spread now: dYdX against KuCoin−0.097%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.097% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.7450	0.0006	pay 0.0006% / 8h	9m 14s	$4.1M	$3.9M	50x
Short	dYdX ZEN-USD	7.7375	0	get 0.0000% / 1h	9m 14s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$1.26
Price spread: −0.097% → 0.000%: −$9.69
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$32.95
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 8 min ago; dYdX: no order-book sample. 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 KuCoin live order book, 8 min ago	1.95 bp	33.7 bp −$34	85.0 bp −$850	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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
dYdX ZEN-USDshort	0.0000%	1h	7.7375	−0.097%	$9K	—	5x
KuCoin ZENUSDTMlong	+0.0006%	8h	7.7450	long leg	$4.1M	$3.9M	50x
Aster ZENUSDT	+0.0100%	8h	7.7771	+0.415%	$42K	$391K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7779	+0.425%	$11.2M	$29.7M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7830	+0.491%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7830	+0.491%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7620	+0.219%	$12.3M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7860	+0.529%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7760	+0.400%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7245	−0.264%	$55K	$69K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7287	−0.211%	$585K	$2.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7300	−0.194%	$27K	$669K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7890	+0.568%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7782	+0.428%	$22K	$234K	5x	as long as short
Hyperliquid ZEN	+0.0198%	1h	7.7705	+0.329%	$2.4M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7840	+0.504%	$838K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2214%	1h	7.8009	+0.721%	$500K	$766K	25x	as long as short