Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.002%

Price spread now: Binance against Extended+0.019%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.019%, 7d avg +0.052%

Together, before fees+0.021%+ Points / potential airdropExtended: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.033% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6903	0	get 0.0000% / 1h	25m 35s	$25K	$110K	5x
Short	Binance ZENUSDT	7.6917	−0.0003	pay 0.0003% / 8h	1h 25m	$11.1M	$31.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.019%Rate

Funding earned: −$0.61
Price spread: +0.019% → +0.052%: −$3.27
Slippage, 4 orders: −$50.17
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$69.04
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from Extended: live order book, 55 min ago; Binance: live order book, 1 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 Extended live order book, 55 min ago	2.02 bp	19.6 bp −$20	190.3 bp −$1,903	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	1.30 bp	12.9 bp −$13	33.1 bp −$331	233.0 bp −$23.3K	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
OKX ZEN-USDT-SWAP	−0.0108%	4h	7.6910	+0.009%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0053%	8h	7.6615	−0.374%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0044%	8h	7.6870	−0.043%	$4.3M	$5.0M	50x	as long as short
Binance ZENUSDTshort	−0.0003%	8h	7.6917	+0.019%	$11.1M	$31.8M	75x
MEXC ZEN_USDT	−0.0002%	8h	7.6920	+0.022%	$12.2M	$5.6M	200x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6890	−0.017%	$9K	—	5x	as long as short
Extended ZEN-USDlong	0.0000%	1h	7.6903	long leg	$25K	$110K	5x
Bitget ZENUSDT	+0.0044%	8h	7.6910	+0.009%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0064%	8h	7.6893	−0.012%	$53K	$380K	10x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6840	−0.082%	$4.7M	$6.6M	75x	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	7.7091	+0.245%	$2.4M	$1.8M	5x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6930	+0.035%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6760	−0.186%	$581K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6720	−0.238%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6900	−0.004%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0119%	8h	7.6820	−0.108%	$842K	$1.9M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1887%	1h	7.7214	+0.404%	$505K	$1.1M	25x	as long as short