Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.050%

Price spread now: Hyperliquid against Binance+0.126%7-day average +0.054% · you sell dearer than you buy

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

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 7 days−0.124%−$12 · spread now +0.126%, 7d avg +0.054%

Together, before fees−0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.072% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZENUSDT	7.5532	0.0100	pay 0.0100% / 8h	4h 49m	$11.0M	$30.1M	75x
Short	Hyperliquid ZEN	7.5627	0.0272	get 0.0034% / 1h	49m 00s	$2.4M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.126%Rate

Funding earned: $36.02
Price spread: +0.126% → +0.054%: $7.17
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $24.19
Costs to cover: 0.190%
Break-even: 2.3 days

Slippage unknown: Binance: live order book, 7 min ago; Hyperliquid: 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 Binance live order book, 7 min ago	1.31 bp	11.8 bp −$12	35.0 bp −$350	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.58 bp	13.2 bp −$13	doesn't fit	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
ApeX Omni ZENUSDT	−0.0175%	1h	7.5870	+0.448%	$26K	$689K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.5767	+0.312%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0097%	4h	7.5500	−0.042%	$2.2M	$5.4M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5520	−0.016%	$52K	$374K	10x	as long as short
Binance ZENUSDTlong	+0.0100%	8h	7.5532	long leg	$11.0M	$30.1M	75x
Bybit ZENUSDT	+0.0100%	8h	7.5490	−0.055%	$4.4M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5460	−0.095%	$11.5M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.5430	−0.135%	$4.0M	$4.4M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5520	−0.016%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.5450	−0.108%	—	$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	7.5732	+0.265%	$50K	$85K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6070	+0.713%	$574K	$2.0M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.5500	−0.042%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.5514	−0.024%	$24K	$142K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5500	−0.042%	$836K	$1.6M	75x	as long as short
Hyperliquid ZENshort	+0.0272%	1h	7.5627	+0.126%	$2.4M	$1.3M	5x
Kraken Futures PF_ZENUSD	+0.3132%	1h	7.5674	+0.188%	$495K	$1.0M	25x	as long as short