Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.017%

Price spread now: Bitget against Extended+0.006%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.006%, 7d avg +0.030%

Together, before fees+0.081%+ Points / potential airdropExtended: Active · farm board+$8 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: Bitget is 0.024% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.8105	0.0104	pay 0.0013% / 1h	9m 29s	$22K	$121K	5x
Short	Bitget ZENUSDT	7.8110	0.0100	get 0.0100% / 8h	7h 09m	$2.9M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → +0.030%: −$2.4
Slippage, 4 orders: −$60.69
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.93
Costs to cover: 0.777%
Break-even: never at this rate

Slippage from Extended: live order book, 61 min ago; Bitget: live order book, 3 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, 61 min ago	3.36 bp	19.5 bp −$19	177.7 bp −$1,777	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.83 bp	19.4 bp −$19	35.9 bp −$359	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
dYdX ZEN-USD	0.0000%	1h	7.8142	+0.048%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0030%	8h	7.7982	−0.157%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.8120	+0.019%	$53K	$379K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.8180	+0.096%	$11.4M	$31.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.8080	−0.032%	$4.7M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.8130	+0.032%	$2.4M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.8160	+0.070%	$12.5M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.8160	+0.070%	$4.5M	$4.8M	50x	as long as short
Bitget ZENUSDTshort	+0.0100%	8h	7.8110	+0.006%	$2.9M	$3.4M	50x
BingX ZEN-USDT	+0.0100%	8h	7.8120	+0.019%	—	$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	7.8089	−0.020%	$590K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.8080	−0.032%	$27K	$688K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.8040	−0.083%	$2K	$1.4M	20x	as long as short
Extended ZEN-USDlong	+0.0104%	1h	7.8105	long leg	$22K	$121K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.8220	+0.147%	$849K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0371%	1h	7.8393	+0.369%	$2.5M	$1.7M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2962%	1h	7.8348	+0.311%	$513K	$1.0M	25x	as long as short