Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: Bybit against Binance−0.003%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1131.132% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.037%−$4 · spread now −0.003%, 7d avg −0.071%

Together, before fees−0.060%−$6 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 0.068% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZENUSDT	7.5732	0.0100	pay 0.0100% / 8h	4h 44m	$10.9M	$30.3M	75x
Short	Bybit ZENUSDT	7.5730	0.0100	get 0.0100% / 8h	4h 44m	$4.4M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.071%: $6.82
Slippage, 4 orders: −$92.19
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.38
Costs to cover: 1.132%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bybit: live order book, 4 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 Binance live order book, 12 min ago	1.31 bp	11.8 bp −$12	35.0 bp −$350	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.97 bp	44.0 bp −$44	91.2 bp −$912	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	7.5491	−0.318%	$9K	—	5x	as long as short
ApeX Omni ZENUSDT	+0.0008%	1h	7.5450	−0.373%	$26K	$689K	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5666	−0.088%	$52K	$374K	10x	as long as short
Binance ZENUSDTlong	+0.0100%	8h	7.5732	long leg	$10.9M	$30.3M	75x
Bybit ZENUSDTshort	+0.0100%	8h	7.5730	−0.003%	$4.4M	$5.9M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.5630	−0.135%	$2.2M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5800	+0.089%	$11.6M	$5.1M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.5630	−0.135%	$4.0M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5740	+0.010%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.5760	+0.037%	—	$3.2M	—	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	7.5436	−0.391%	$50K	$85K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.5503	−0.302%	$569K	$2.0M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.5700	−0.043%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.5691	−0.054%	$24K	$140K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5370	−0.478%	$832K	$1.5M	75x	as long as short
Hyperliquid ZEN	+0.0233%	1h	7.5889	+0.207%	$2.4M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3124%	1h	7.5886	+0.204%	$491K	$1.0M	25x	as long as short