Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX−0.192%7-day average — · you buy dearer than you sell

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

Long on SunX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.192% cheaper against SunX than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.6840	0.0100	pay 0.0100% / 8h	4h 14m	$2K	$1.3M	20x
Short	dYdX ZEN-USD	7.6692	0	get 0.0000% / 1h	14m 51s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$21
Price spread: −0.192% → 0.000%: −$19.22
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$58.22
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 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 SunX live order book, 9 min ago	500.88 bp	doesn't fit	doesn't fit	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 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-USDshort	0.0000%	1h	7.6692	−0.192%	$9K	—	5x
OKX ZEN-USDT-SWAP	+0.0079%	4h	7.6750	−0.117%	$2.3M	$5.4M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6818	−0.028%	$53K	$373K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6750	−0.117%	$11.1M	$30.1M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6740	−0.130%	$4.5M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6800	−0.052%	$11.7M	$5.1M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.6780	−0.078%	$4.1M	$4.4M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6710	−0.169%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6590	−0.325%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6632	−0.271%	$55K	$89K	—	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	7.6670	−0.221%	$573K	$2.1M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6660	−0.234%	$27K	$684K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.6840	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.6779	−0.079%	$22K	$144K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6790	−0.065%	$825K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0341%	1h	7.6956	+0.151%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3079%	1h	7.6978	+0.179%	$498K	$999K	25x	as long as short