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 +0.035%

Price spread now: BingX against Bybit+0.026%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1181.181% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.026%, 7d avg +0.048%

Together, before fees+0.050%+$5 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: BingX is 0.022% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.7810	0.0100	pay 0.0100% / 8h	6h 04m	$4.6M	$5.9M	75x
Short	BingX ZEN-USDT	7.7830	0.0100	get 0.0100% / 8h	6h 04m	—	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → +0.048%: −$2.2
Slippage, 4 orders: −$97.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$120.33
Costs to cover: 1.181%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; BingX: live order book, 16 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 Bybit live order book, 4 min ago	3.22 bp	44.0 bp −$44	318.0 bp −$3,180	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	4.49 bp	18.2 bp −$18	43.7 bp −$437	229.2 bp −$22.9K	469.1 bp −$234.5K

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	7.7686	−0.159%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0093%	8h	7.7571	−0.307%	$52K	$84K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7846	+0.047%	$56K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7855	+0.058%	$11.3M	$30.6M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.7810	long leg	$4.6M	$5.9M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7800	−0.013%	$2.3M	$5.5M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7860	+0.064%	$12.2M	$5.4M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7800	−0.013%	$4.2M	$4.7M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7870	+0.077%	$2.9M	$3.3M	50x	as long as short
BingX ZEN-USDTshort	+0.0100%	8h	7.7830	+0.026%	—	$3.2M	—

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	7.7489	−0.413%	$579K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7520	−0.373%	$26K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7930	+0.154%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7838	+0.035%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0573%	1h	7.8005	+0.251%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3176%	1h	7.8141	+0.426%	$511K	$1.0M	25x	as long as short