Funding arb · Price arb /

ZEN

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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 −0.008%

Price spread now: Aster against Bitget−0.007%7-day average +0.040% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$222as in the Price arb table

costs, in and out, $10k−$2182.176% of the position

Long on Bitget Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.293%+$29 · spread now −0.007%, 7d avg +0.040%

Together, before fees+0.267%+ Points / potential airdropAster: Stage 5 · farm board+$27 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: Aster is 0.047% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.6920	0.0100	pay 0.0100% / 8h	4h 00m	$2.9M	$3.2M	50x
Short	Aster ZENUSDT	7.6914	0.0100	get 0.0100% / 8h	4h 00m	$51K	$379K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bitget. 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 BitgetbpFee AsterbpOrdersPrice spread, now −0.007%Rate

Funding earned: $0
Price spread: −0.007% → +0.040%: −$4.71
Slippage, 4 orders: −$197.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$222.28
Costs to cover: 2.176%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Aster: live order book, 57 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 Bitget live order book, 3 min ago	4.57 bp	16.8 bp −$17	33.3 bp −$333	doesn't fit	doesn't fit
Sell Aster live order book, 57 min ago	10.53 bp	155.2 bp −$155	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
dYdX ZEN-USD	0.0000%	1h	7.6930	+0.013%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0070%	4h	7.6890	−0.039%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTM	+0.0081%	8h	7.6900	−0.026%	$4.1M	$4.3M	50x	as long as short
Aster ZENUSDTshort	+0.0100%	8h	7.6914	−0.007%	$51K	$379K	10x
Binance ZENUSDT	+0.0100%	8h	7.6974	+0.070%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6930	+0.013%	$4.5M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6930	+0.013%	$11.6M	$5.1M	200x	as long as short
Bitget ZENUSDTlong	+0.0100%	8h	7.6920	long leg	$2.9M	$3.2M	50x
BingX ZEN-USDT	+0.0100%	8h	7.6780	−0.182%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6817	−0.134%	$55K	$89K	—	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	7.6670	−0.325%	$574K	$2.1M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6650	−0.351%	$27K	$681K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6960	+0.052%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6939	+0.025%	$22K	$142K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6800	−0.156%	$833K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0371%	1h	7.7127	+0.269%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3072%	1h	7.7154	+0.304%	$500K	$1.0M	25x	as long as short