Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.005%

Price spread now: KuCoin against dYdX−0.167%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.167% cheaper against dYdX than usual: you would sell low and buy high (spread −0.167% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.8000	0	get 0.0000% / 1h	17m 38s	$9K	—	5x
Short	KuCoin ZENUSDTM	7.7870	0.0100	get 0.0100% / 8h	6h 17m	$4.2M	$4.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.167%Rate

Funding earned: $21
Price spread: −0.167% → 0.000%: −$16.69
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$17.69
Costs to cover: 0.220%
Break-even: 12.9 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	2.55 bp	46.9 bp −$47	81.0 bp −$810	doesn't fit	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 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-USDlong	0.0000%	1h	7.8000	long leg	$9K	—	5x
Variational Omni ZEN	+0.0079%	8h	7.8131	+0.167%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7922	−0.100%	$56K	$383K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7789	−0.271%	$11.2M	$31.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7780	−0.282%	$4.6M	$6.0M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7720	−0.359%	$2.4M	$5.6M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7810	−0.244%	$12.2M	$5.4M	200x	as long as short
KuCoin ZENUSDTMshort	+0.0100%	8h	7.7870	−0.167%	$4.2M	$4.7M	50x
Bitget ZENUSDT	+0.0100%	8h	7.7790	−0.269%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7720	−0.359%	—	$3.2M	—	as long as short

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	7.8290	+0.371%	$583K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8180	+0.231%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.8080	+0.102%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7720	−0.359%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0461%	1h	7.7987	−0.017%	$2.5M	$1.6M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3168%	1h	7.8338	+0.433%	$513K	$1.0M	25x	as long as short