Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.044%

Price spread now: BloFin against dYdX+0.029%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on BloFin

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.029% dearer against dYdX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.7768	0	get 0.0000% / 1h	26m 09s	$9K	—	5x
Short	BloFin ZEN-USDT	7.7790	0.0220	get 0.0220% / 8h	7h 26m	$850K	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. 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 dYdXbpFee BloFinbpOrdersPrice spread, now +0.029%Rate

Funding earned: $46.2
Price spread: +0.029% → 0.000%: $2.89
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $27.09
Costs to cover: 0.220%
Break-even: 2.9 days

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	0.64 bp	18.2 bp −$18	30.3 bp −$303	105.6 bp −$10.6K	doesn't fit

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
dYdX ZEN-USDlong	0.0000%	1h	7.7768	long leg	$9K	—	5x
Variational Omni ZEN	+0.0006%	8h	7.7842	+0.096%	$52K	$85K	—	as long as short
Bybit ZENUSDT	+0.0064%	8h	7.7820	+0.067%	$4.7M	$6.1M	75x	as long as short
KuCoin ZENUSDTM	+0.0084%	8h	7.7890	+0.157%	$4.4M	$4.8M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7900	+0.170%	$53K	$378K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7921	+0.197%	$11.3M	$31.2M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7940	+0.222%	$2.3M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7920	+0.196%	$12.5M	$5.3M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7880	+0.145%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7870	+0.132%	—	$3.3M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7607	−0.206%	$583K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7680	−0.113%	$27K	$688K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7900	+0.170%	$2K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7910	+0.183%	$22K	$121K	5x	as long as short
Hyperliquid ZEN	+0.0175%	1h	7.8093	+0.418%	$2.4M	$1.8M	5x	as long as short
BloFin ZEN-USDTshort	+0.0220%	8h	7.7790	+0.029%	$850K	$1.8M	75x
Kraken Futures PF_ZENUSD	+0.2965%	1h	7.8261	+0.635%	$512K	$1.0M	25x	as long as short