Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2746%/8h= +300.7% APRpaid last 24h +0.457%

Price spread now: Kraken Futures against SunX+0.186%7-day average +0.181% · you sell dearer than you buy

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.390%+$139 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.186%, 7d avg +0.181%

Together, before fees+1.409%+$141 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.181%, so right now this pair is about funding alone: +$82 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.390% in total (about 72.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.7320	0.0100	pay 0.0100% / 8h	1h 26m	$2K	$1.3M	20x
Short	Kraken Futures PF_ZENUSD	7.7464	0.2846	get 0.0356% / 1h	26m 47s	$495K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.186%Rate

Funding earned: $576.71
Price spread: +0.186% → +0.181%: $0.51
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $559.22
Costs to cover: 0.180%
Break-even: 0.2 days

Slippage unknown: SunX: live order book, 7 min ago; Kraken Futures: live order book, 2 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, 7 min ago	500.32 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	34.29 bp	39.4 bp −$39	122.9 bp −$1,229	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	7.7310	−0.013%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0055%	8h	7.7280	−0.052%	$4.1M	$4.0M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0080%	4h	7.7200	−0.155%	$2.3M	$5.4M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7407	+0.113%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7282	−0.049%	$43K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7244	−0.098%	$11.1M	$30.1M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7160	−0.207%	$4.5M	$5.6M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7260	−0.078%	$12.3M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7270	−0.065%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7220	−0.129%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7171	−0.192%	$55K	$83K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7340	+0.026%	$579K	$2.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7350	+0.039%	$27K	$673K	50x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.7320	long leg	$2K	$1.3M	20x
Extended ZEN-USD	+0.0104%	1h	7.7247	−0.094%	$22K	$133K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7350	+0.039%	$837K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSDshort	+0.2846%	1h	7.7464	+0.186%	$495K	$1.0M	25x