Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.023%

Price spread now: Bybit against OKX+0.013%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1231.226% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days−0.111%−$11 · spread now +0.013%, 7d avg −0.034%

Together, before fees−0.054%−$5 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: Bybit is 0.047% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6710	0.0100	pay 0.0050% / 4h	3h 32m	$2.3M	$5.3M	50x
Short	Bybit ZENUSDT	7.6720	0.0100	get 0.0100% / 8h	7h 32m	$4.5M	$5.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → −0.034%: $4.74
Slippage, 4 orders: −$101.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$117.81
Costs to cover: 1.226%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bybit: live order book, 5 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	2.60 bp	19.7 bp −$20	135.3 bp −$1,353	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.60 bp	40.5 bp −$41	167.4 bp −$1,674	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	7.6853	+0.186%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0016%	8h	7.6810	+0.130%	$4.1M	$3.8M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6899	+0.247%	$41K	$394K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6786	+0.099%	$11.0M	$29.6M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.6720	+0.013%	$4.5M	$5.5M	75x
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.6710	long leg	$2.3M	$5.3M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.6830	+0.156%	$12.1M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6800	+0.117%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6780	+0.091%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6902	+0.251%	$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	7.6930	+0.287%	$578K	$2.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6990	+0.365%	$27K	$667K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6780	+0.091%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6800	+0.118%	$24K	$236K	5x	as long as short
Hyperliquid ZEN	+0.0206%	1h	7.6975	+0.345%	$2.4M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6810	+0.130%	$835K	$1.7M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1711%	1h	7.6836	+0.164%	$493K	$751K	25x	as long as short