Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0142%/8h= +15.6% APRpaid last 24h +0.081%

Price spread now: SunX against OKX−0.026%7-day average +0.079% · you buy dearer than you sell

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

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)−0.251%−$25 · spread now −0.026%, 7d avg +0.079%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.105% cheaper against OKX than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.079%). If the spread goes back, that is −$11 on $10k: about 2.5 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.128% in total) that is about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7170	−0.0042	get 0.0021% / 4h	3h 30m	$2.3M	$7.3M	50x
Short	SunX ZEN-USDT	7.7150	0.0100	get 0.0100% / 8h	3h 30m	$1K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $29.84
Price spread: −0.026% → +0.079%: −$10.54
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $1.3
Costs to cover: 0.180%
Break-even: 6.7 days

Slippage unknown: OKX: live order book, 3 min ago; SunX: live order book, 5 min ago. 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, 3 min ago	1.95 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	500.58 bp	doesn't fit	doesn't fit	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	−0.0202%	8h	7.6976	−0.251%	$51K	$250K	—	as long as short
OKX ZEN-USDT-SWAPlong	−0.0042%	4h	7.7170	long leg	$2.3M	$7.3M	50x
dYdX ZEN-USD	0.0000%	1h	7.7219	+0.064%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0031%	8h	7.7240	+0.091%	$12.3M	$6.6M	200x	as long as short
Binance ZENUSDT	+0.0032%	8h	7.7216	+0.059%	$10.9M	$35.2M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.7203	+0.042%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0042%	8h	7.7230	+0.078%	$4.4M	$5.5M	50x	as long as short
Bitget ZENUSDT	+0.0045%	8h	7.7190	+0.026%	$2.8M	$4.0M	50x	as long as short
Aster ZENUSDT	+0.0074%	8h	7.7219	+0.063%	$40K	$316K	10x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7160	−0.013%	$4.6M	$8.7M	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	+0.0100%	8h	7.7200	+0.039%	—	$3.5M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7170	0.000%	$579K	$1.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7060	−0.143%	$27K	$684K	50x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.7150	−0.026%	$1K	$1.5M	20x
BloFin ZEN-USDT	+0.0127%	8h	7.7150	−0.026%	$828K	$2.1M	75x	as long as short
Hyperliquid ZEN	+0.0242%	1h	7.7452	+0.365%	$2.5M	$2.5M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1341%	1h	7.7332	+0.209%	$491K	$1.2M	25x	as long as short