Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.081%

Price spread now: OKX against SunX−0.168%47s7-day average −0.079% · you buy dearer than you sell

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

Long on SunX Short on OKX

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)+0.240%+$24 · spread now −0.168%, 7d avg −0.079%

Together, before fees+0.112%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and OKX is 0.089% cheaper against SunX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.079%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEN-USDT	7.7290	0.0100	pay 0.0100% / 8h	1h 03m	$2K	$1.4M	20x
Short	OKX ZEN-USDT-SWAP	7.7160	−0.0056	pay 0.0028% / 4h	1h 03m	$2.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$32.85
Price spread: −0.168% → −0.079%: −$8.87
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$59.72
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; OKX: live order book, 4 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, 10 min ago	500.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.95 bp	21.8 bp −$22	79.9 bp −$799	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-SWAPshort	−0.0056%	4h	7.7160	−0.168%	$2.3M	$5.8M	50x
Variational Omni ZEN	−0.0050%	8h	7.7045	−0.318%	$51K	$85K	—	as long as short
KuCoin ZENUSDTM	−0.0016%	8h	7.7270	−0.026%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7290	−0.001%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0020%	8h	7.7300	+0.013%	$12.3M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0023%	8h	7.7232	−0.076%	$11.2M	$31.5M	75x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.7254	−0.047%	$25K	$110K	5x	as long as short
Bitget ZENUSDT	+0.0067%	8h	7.7190	−0.129%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0073%	8h	7.7170	−0.155%	$838K	$1.8M	75x	as long as short
Bybit ZENUSDT	+0.0076%	8h	7.7150	−0.181%	$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	7.7280	−0.013%	—	$3.4M	—	as long as short
ApeX Omni ZENUSDT	+0.0087%	1h	7.7050	−0.311%	$27K	$682K	50x	as long as short
Aster ZENUSDT	+0.0093%	8h	7.7236	−0.070%	$53K	$380K	10x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7417	+0.164%	$2.4M	$1.8M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7199	−0.118%	$575K	$1.6M	10x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.7290	long leg	$2K	$1.4M	20x
Kraken Futures PF_ZENUSD	+0.1877%	1h	7.7594	+0.393%	$508K	$1.1M	25x	as long as short