Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.035%

Price spread now: dYdX against OKX+0.089%7-day average — · you sell dearer than you buy

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

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.089% dearer against OKX than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.8000	0.0100	pay 0.0050% / 4h	2h 18m	$2.4M	$5.6M	50x
Short	dYdX ZEN-USD	7.8069	0	get 0.0000% / 1h	18m 18s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$21
Price spread: +0.089% → 0.000%: $8.9
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$32.1
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	3.19 bp	17.9 bp −$18	232.9 bp −$2,329	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 16 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	7.8069	+0.089%	$9K	—	5x
Variational Omni ZEN	+0.0079%	8h	7.8131	+0.167%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.8062	+0.080%	$56K	$383K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.8078	+0.100%	$11.3M	$31.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.8020	+0.026%	$4.6M	$6.0M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.8000	long leg	$2.4M	$5.6M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.8040	+0.051%	$12.2M	$5.4M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.8060	+0.077%	$4.2M	$4.7M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.8070	+0.090%	$3.0M	$3.5M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.8070	+0.090%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.8290	+0.372%	$583K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8180	+0.231%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.8150	+0.192%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.8139	+0.178%	$28K	$120K	5x	as long as short
Hyperliquid ZEN	+0.0460%	1h	7.8210	+0.269%	$2.5M	$1.6M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3166%	1h	7.8391	+0.501%	$513K	$1.0M	25x	as long as short