Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0078%/8h= −8.6% APRpaid last 24h +0.003%

Price spread now: dYdX against Bybit+0.038%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.038% dearer against Bybit than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6940	0.0078	pay 0.0078% / 8h	1h 07m	$4.7M	$6.4M	75x
Short	dYdX ZEN-USD	7.6970	0	get 0.0000% / 1h	7m 37s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$16.43
Price spread: +0.038% → 0.000%: $3.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$33.58
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; dYdX: no order-book sample. 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 Bybit live order book, 5 min ago	3.25 bp	36.1 bp −$36	117.8 bp −$1,178	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
OKX ZEN-USDT-SWAP	−0.0071%	4h	7.6960	+0.026%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0049%	8h	7.6855	−0.111%	$51K	$85K	—	as long as short
KuCoin ZENUSDTM	−0.0028%	8h	7.6970	+0.039%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USDshort	0.0000%	1h	7.6970	+0.038%	$9K	—	5x
MEXC ZEN_USDT	+0.0013%	8h	7.6930	−0.013%	$12.2M	$5.6M	200x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6945	+0.006%	$25K	$110K	5x	as long as short
Binance ZENUSDT	+0.0016%	8h	7.7000	+0.078%	$11.1M	$31.6M	75x	as long as short
BloFin ZEN-USDT	+0.0056%	8h	7.7030	+0.117%	$839K	$1.8M	75x	as long as short
Bitget ZENUSDT	+0.0060%	8h	7.6960	+0.026%	$2.8M	$3.5M	50x	as long as short
Bybit ZENUSDTlong	+0.0078%	8h	7.6940	long leg	$4.7M	$6.4M	75x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0082%	8h	7.7000	+0.078%	—	$3.4M	—	as long as short
Aster ZENUSDT	+0.0088%	8h	7.6930	−0.013%	$53K	$380K	10x	as long as short
ApeX Omni ZENUSDT	+0.0096%	1h	7.7120	+0.234%	$27K	$683K	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7151	+0.274%	$2.4M	$1.8M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7122	+0.237%	$575K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7010	+0.091%	$1K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1884%	1h	7.7313	+0.485%	$506K	$1.1M	25x	as long as short