Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2141%/8h= +234.5% APRpaid last 24h +0.482%

Price spread now: Kraken Futures against Aster+0.180%7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1391.386% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+1.484%+$148 on $10k

Price spread, last 4 days (all we have)−0.055%−$6 · spread now +0.180%, 7d avg +0.159%

Together, before fees+1.429%+ Points / potential airdropAster: Stage 5 · farm board+$143 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$64 a day on $10k at the current rate, and Kraken Futures is 0.022% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.159%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZENUSDT	7.6913	0.0100	pay 0.0100% / 8h	18m 47s	$42K	$390K	10x
Short	Kraken Futures PF_ZENUSD	7.7052	0.2241	get 0.0280% / 1h	18m 47s	$492K	$794K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. 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 AsterbpFee Kraken FuturesbpOrdersPrice spread, now +0.180%Rate

Funding earned: $449.71
Price spread: +0.180% → +0.159%: $2.16
Slippage, 4 orders: −$120.62
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $313.24
Costs to cover: 1.386%
Break-even: 2.1 days

Slippage from Aster: live order book, 18 min ago; Kraken Futures: live order book, 55 min ago.

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 Aster live order book, 18 min ago	6.48 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	10.97 bp	25.9 bp −$26	73.4 bp −$734	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
KuCoin ZENUSDTM	−0.0009%	8h	7.6900	−0.017%	$4.1M	$3.9M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6828	−0.111%	$9K	—	5x	as long as short
Aster ZENUSDTlong	+0.0100%	8h	7.6913	long leg	$42K	$390K	10x
Binance ZENUSDT	+0.0100%	8h	7.6920	+0.009%	$11.0M	$29.6M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6890	−0.030%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6870	−0.056%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6890	−0.030%	$12.2M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6910	−0.004%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6890	−0.030%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6492	−0.548%	$54K	$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	7.6591	−0.419%	$578K	$2.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6610	−0.394%	$27K	$669K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6960	+0.061%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6899	−0.018%	$22K	$231K	5x	as long as short
Hyperliquid ZEN	+0.0218%	1h	7.7024	+0.144%	$2.4M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6970	+0.074%	$840K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSDshort	+0.2241%	1h	7.7052	+0.180%	$492K	$794K	25x