Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.023%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 SunX

What this pair did over the last

the charts below follow

Funding, last 6 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. SunX is 0.023% cheaper against dYdX than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours 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	7.5798	0	get 0.0000% / 1h	6m 10s	$9K	—	5x
Short	SunX ZEN-USDT	7.5780	0.0100	get 0.0100% / 8h	5h 06m	$1K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $21
Price spread: −0.023% → 0.000%: −$2.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $0.68
Costs to cover: 0.180%
Break-even: 6.8 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	498.35 bp	doesn't fit	doesn't fit	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 17 exchanges

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
KuCoin ZENUSDTM	−0.0046%	8h	7.5740	−0.076%	$4.1M	$3.3M	50x	as long as short
dYdX ZEN-USDlong	0.0000%	1h	7.5798	long leg	$9K	—	5x
ApeX Omni ZENUSDT	+0.0065%	1h	7.5780	−0.023%	$26K	$664K	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0079%	4h	7.5730	−0.089%	$2.2M	$4.8M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.5918	+0.159%	$2.4M	$991K	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5783	−0.019%	$34K	$386K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.5738	−0.079%	$10.8M	$27.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.5720	−0.102%	$4.4M	$4.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5750	−0.063%	$11.9M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5670	−0.168%	$2.8M	$2.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.5770	−0.036%	—	$2.8M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.5686	−0.148%	$50K	$54K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.5897	+0.131%	$566K	$3.4M	10x	as long as short
SunX ZEN-USDTshort	+0.0100%	8h	7.5780	−0.023%	$1K	$1.2M	20x
Extended ZEN-USD	+0.0104%	1h	7.5706	−0.121%	$22K	$240K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5740	−0.076%	$818K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1159%	1h	7.5878	+0.106%	$488K	$605K	25x	as long as short