Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%

Price spread now: Bybit against SunX+0.065%7-day average −0.069% · you sell dearer than you buy

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)+0.308%+$31 · spread now +0.065%, 7d avg −0.069%

Together, before fees+0.232%+$23 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 0.133% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.7190	0.0100	pay 0.0100% / 8h	7h 44m	$2K	$1.3M	20x
Short	Bybit ZENUSDT	7.7240	0.0100	get 0.0100% / 8h	7h 44m	$4.5M	$5.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.069%: $13.35
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$5.65
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; Bybit: live order book, 3 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 SunX live order book, 9 min ago	501.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.58 bp	42.9 bp −$43	250.2 bp −$2,502	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	7.7313	+0.160%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0020%	8h	7.7280	+0.117%	$4.1M	$3.8M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7390	+0.259%	$42K	$392K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7298	+0.141%	$11.1M	$29.7M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.7240	+0.065%	$4.5M	$5.5M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7190	0.000%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7310	+0.155%	$12.3M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7310	+0.155%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7280	+0.117%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7202	+0.016%	$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	7.7354	+0.213%	$583K	$2.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7450	+0.337%	$27K	$668K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.7190	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.7279	+0.115%	$22K	$234K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7220	+0.039%	$837K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0281%	1h	7.7456	+0.345%	$2.4M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1699%	1h	7.7381	+0.248%	$497K	$752K	25x	as long as short