Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.053%

Price spread now: Binance against OKX+0.189%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days−0.152%−$15 · spread now +0.189%, 7d avg +0.036%

Together, before fees−0.078%−$8 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: Binance is 0.152% dearer against OKX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6170	0.0100	pay 0.0050% / 4h	2h 40m	$2.3M	$5.6M	50x
Short	Binance ZENUSDT	7.6314	0.0100	get 0.0100% / 8h	6h 40m	$11.0M	$31.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.189%Rate

Funding earned: $0
Price spread: +0.189% → +0.036%: $15.24
Slippage, 4 orders: −$46.65
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.4
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 1 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 OKX live order book, 2 min ago	2.61 bp	20.2 bp −$20	103.6 bp −$1,036	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	1.31 bp	14.7 bp −$15	45.5 bp −$455	242.3 bp −$24.2K	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
ApeX Omni ZENUSDT	−0.0012%	1h	7.7080	+1.195%	$26K	$688K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6458	+0.378%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0055%	8h	7.6468	+0.391%	$51K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6473	+0.398%	$55K	$383K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.6314	+0.189%	$11.0M	$31.5M	75x
Bybit ZENUSDT	+0.0100%	8h	7.6190	+0.026%	$4.5M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.6170	long leg	$2.3M	$5.6M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.6440	+0.354%	$12.1M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.6540	+0.486%	$4.4M	$4.7M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6410	+0.315%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.6430	+0.341%	—	$3.3M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6920	+0.984%	$573K	$1.8M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6470	+0.394%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6402	+0.305%	$27K	$122K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7330	+1.523%	$864K	$1.7M	75x	as long as short
Hyperliquid ZEN	+0.0454%	1h	7.6697	+0.692%	$2.4M	$1.7M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3231%	1h	7.6805	+0.834%	$502K	$1.0M	25x	as long as short