Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.081%

Price spread now: Bitget against OKX+0.026%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$740.744% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.026%, 7d avg +0.002%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.024% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6590	−0.0074	get 0.0037% / 4h	2h 08m	$2.3M	$5.9M	50x
Short	Bitget ZENUSDT	7.6610	0.0036	get 0.0036% / 8h	2h 08m	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: $23.15
Price spread: +0.026% → +0.002%: $2.41
Slippage, 4 orders: −$52.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.84
Costs to cover: 0.744%
Break-even: 21.8 days

Slippage from OKX: live order book, 5 min ago; Bitget: live order book, 9 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, 5 min ago	1.96 bp	18.5 bp −$19	104.7 bp −$1,047	doesn't fit	doesn't fit
Sell Bitget live order book, 9 min ago	3.91 bp	17.1 bp −$17	33.0 bp −$330	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
Variational Omni ZEN	−0.0081%	8h	7.6379	−0.276%	$51K	$151K	—	as long as short
OKX ZEN-USDT-SWAPlong	−0.0074%	4h	7.6590	long leg	$2.3M	$5.9M	50x
dYdX ZEN-USD	0.0000%	1h	7.6746	+0.204%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0012%	8h	7.6590	0.000%	$4.3M	$5.2M	50x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6622	+0.041%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0016%	8h	7.6620	+0.039%	$12.2M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0017%	8h	7.6619	+0.038%	$11.0M	$32.2M	75x	as long as short
Bitget ZENUSDTshort	+0.0036%	8h	7.6610	+0.026%	$2.8M	$3.5M	50x
BloFin ZEN-USDT	+0.0066%	8h	7.6660	+0.091%	$838K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0072%	8h	7.6562	−0.037%	$54K	$379K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6829	+0.312%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6560	−0.039%	$4.6M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6570	−0.026%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6534	−0.073%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6510	−0.104%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6570	−0.026%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1133%	1h	7.6777	+0.244%	$494K	$1.1M	25x	as long as short