Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0121%/8h= −13.3% APRpaid last 24h −0.074%

Price spread now: OKX against BloFin0.000%7-day average −0.035% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now 0.000%, 7d avg −0.035%

Together, before fees−0.404%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.035% dearer against BloFin than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.035%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.7270	0.0220	pay 0.0220% / 8h	2h 01m	$837K	$1.5M	75x
Short	OKX ZEN-USDT-SWAP	7.7270	0.0099	get 0.0049% / 4h	2h 01m	$2.3M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$25.46
Price spread: 0.000% → −0.035%: $3.48
Slippage, 4 orders: −$38.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$82.42
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; OKX: live order book, 1 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 BloFin live order book, 1 min ago	1.29 bp	7.3 bp −$7	19.7 bp −$197	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.94 bp	17.0 bp −$17	103.8 bp −$1,038	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	7.7390	+0.156%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0088%	8h	7.7320	+0.065%	$4.1M	$4.1M	50x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0099%	4h	7.7270	0.000%	$2.3M	$5.4M	50x
Hyperliquid ZEN	+0.0100%	1h	7.7440	+0.220%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7289	+0.025%	$43K	$392K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7280	+0.013%	$11.2M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7290	+0.026%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7280	+0.013%	$12.0M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7240	−0.039%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7300	+0.039%	—	$3.1M	—	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	7.7391	+0.157%	$55K	$88K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7383	+0.147%	$586K	$2.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7410	+0.181%	$27K	$676K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7290	+0.026%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7278	+0.010%	$22K	$134K	5x	as long as short
BloFin ZEN-USDTlong	+0.0220%	8h	7.7270	long leg	$837K	$1.5M	75x
Kraken Futures PF_ZENUSD	+0.3055%	1h	7.7641	+0.480%	$496K	$1.0M	25x	as long as short