Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.065%

Price spread now: OKX against Bitget−0.180%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$780.778% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 7 days+0.162%+$16 · spread now −0.180%, 7d avg −0.006%

Together, before fees+0.035%+$4 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: OKX is 0.174% cheaper against Bitget than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.7780	0.0100	pay 0.0100% / 8h	6h 03m	$2.9M	$3.3M	50x
Short	OKX ZEN-USDT-SWAP	7.7640	0.0100	get 0.0050% / 4h	2h 03m	$2.3M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → −0.006%: −$17.44
Slippage, 4 orders: −$55.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.23
Costs to cover: 0.778%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; OKX: 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 Bitget live order book, 4 min ago	3.22 bp	21.5 bp −$22	33.8 bp −$338	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.93 bp	23.3 bp −$23	80.8 bp −$808	doesn't fit	doesn't fit

ZEN on 16 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	7.7758	−0.028%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0093%	8h	7.7571	−0.268%	$52K	$84K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7880	+0.129%	$56K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7784	+0.005%	$11.2M	$30.6M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7720	−0.077%	$4.6M	$5.9M	75x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0100%	4h	7.7640	−0.180%	$2.3M	$5.4M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.7780	0.000%	$12.2M	$5.4M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7830	+0.064%	$4.2M	$4.6M	50x	as long as short
Bitget ZENUSDTlong	+0.0100%	8h	7.7780	long leg	$2.9M	$3.3M	50x
BingX ZEN-USDT	+0.0100%	8h	7.7790	+0.013%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7686	−0.121%	$588K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7520	−0.334%	$26K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7930	+0.193%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7785	+0.006%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0576%	1h	7.8043	+0.338%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3176%	1h	7.8141	+0.465%	$511K	$1.0M	25x	as long as short