Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.065%

Price spread now: Extended against OKX+0.005%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.005%, 7d avg +0.026%

Together, before fees+0.033%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.021% cheaper against OKX than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.026%). If the spread goes back, that is −$2 on $10k: about 21 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.068% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7150	−0.0066	get 0.0033% / 4h	1h 05m	$2.3M	$5.8M	50x
Short	Extended ZEN-USD	7.7154	0.0016	get 0.0002% / 1h	5m 25s	$25K	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.005%Rate

Funding earned: $17.22
Price spread: +0.005% → +0.026%: −$2.12
Slippage, 4 orders: −$64.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$64.86
Costs to cover: 0.800%
Break-even: 33.4 days

Slippage from OKX: live order book, 2 min ago; Extended: live order book, 10 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	1.95 bp	19.5 bp −$19	149.7 bp −$1,497	doesn't fit	doesn't fit
Sell Extended live order book, 10 min ago	2.02 bp	19.7 bp −$20	172.1 bp −$1,721	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
OKX ZEN-USDT-SWAPlong	−0.0066%	4h	7.7150	long leg	$2.3M	$5.8M	50x
Variational Omni ZEN	−0.0049%	8h	7.6855	−0.383%	$51K	$85K	—	as long as short
KuCoin ZENUSDTM	−0.0025%	8h	7.7160	+0.013%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7194	+0.057%	$9K	—	5x	as long as short
Extended ZEN-USDshort	+0.0016%	1h	7.7154	+0.005%	$25K	$110K	5x
MEXC ZEN_USDT	+0.0018%	8h	7.7180	+0.039%	$12.2M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0018%	8h	7.7161	+0.014%	$11.2M	$31.6M	75x	as long as short
Bitget ZENUSDT	+0.0063%	8h	7.7120	−0.039%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0066%	8h	7.7030	−0.156%	$836K	$1.8M	75x	as long as short
Bybit ZENUSDT	+0.0076%	8h	7.7120	−0.039%	$4.7M	$6.4M	75x	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	+0.0082%	8h	7.7180	+0.039%	—	$3.4M	—	as long as short
ApeX Omni ZENUSDT	+0.0087%	1h	7.7050	−0.130%	$27K	$682K	50x	as long as short
Aster ZENUSDT	+0.0091%	8h	7.7162	+0.016%	$53K	$380K	10x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7402	+0.327%	$2.4M	$1.8M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7122	−0.036%	$575K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7220	+0.091%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1879%	1h	7.7542	+0.508%	$507K	$1.1M	25x	as long as short