Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h +0.018%

Price spread now: Extended against Bybit+0.057%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1221.216% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.057%, 7d avg +0.022%

Together, before fees−0.032%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.034% dearer against Bybit than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of +0.022%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6570	0.0100	pay 0.0100% / 8h	2h 07m	$4.6M	$6.8M	75x
Short	Extended ZEN-USD	7.6613	0.0016	get 0.0002% / 1h	7m 48s	$25K	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$17.64
Price spread: +0.057% → +0.022%: $3.44
Slippage, 4 orders: −$105.6
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$135.8
Costs to cover: 1.216%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 min ago; Extended: live order book, 12 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, 10 min ago	3.26 bp	43.5 bp −$43	160.0 bp −$1,600	doesn't fit	doesn't fit
Sell Extended live order book, 12 min ago	2.02 bp	19.7 bp −$20	151.2 bp −$1,512	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
Variational Omni ZEN	−0.0081%	8h	7.6379	−0.250%	$51K	$151K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0074%	4h	7.6540	−0.039%	$2.3M	$5.8M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6746	+0.230%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0012%	8h	7.6600	+0.039%	$4.3M	$5.2M	50x	as long as short
Extended ZEN-USDshort	+0.0016%	1h	7.6613	+0.057%	$25K	$110K	5x
MEXC ZEN_USDT	+0.0016%	8h	7.6630	+0.078%	$12.2M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0017%	8h	7.6623	+0.069%	$11.0M	$32.2M	75x	as long as short
Bitget ZENUSDT	+0.0036%	8h	7.6630	+0.078%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0066%	8h	7.6660	+0.118%	$838K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0072%	8h	7.6566	−0.005%	$54K	$379K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6828	+0.337%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6570	long leg	$4.6M	$6.8M	75x
BingX ZEN-USDT	+0.0100%	8h	7.6610	+0.052%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6534	−0.047%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6510	−0.078%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6570	0.000%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1133%	1h	7.6777	+0.270%	$494K	$1.1M	25x	as long as short