Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0100%/8hpaid last 24h +0.025%

Price spread now: BloFin against Extended+0.141%114s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.609% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.141%, 7d avg +0.027%

Together, before fees+0.196%+ Points / potential airdropExtended: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.114% dearer against Extended than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.027%. The two prices were read 114 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6123	0	get 0.0000% / 1h	5m 20s	$25K	$110K	5x
Short	BloFin ZEN-USDT	7.6230	0.0100	get 0.0100% / 8h	4h 05m	$840K	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.141%Rate

Funding earned: $21.08
Price spread: +0.141% → +0.027%: $11.37
Slippage, 4 orders: −$43.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$28.45
Costs to cover: 0.609%
Break-even: 16.4 days

Slippage from Extended: live order book, 24 min ago; BloFin: live order book, 2 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, 24 min ago	2.10 bp	19.6 bp −$20	193.0 bp −$1,930	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.66 bp	9.4 bp −$9	26.6 bp −$266	95.8 bp −$9,576	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
Variational Omni ZEN	−0.0241%	8h	7.6185	+0.081%	$51K	$269K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0152%	4h	7.6090	−0.043%	$2.2M	$7.6M	50x	as long as short
ApeX Omni ZENUSDT	−0.0002%	1h	7.6290	+0.219%	$27K	$686K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6215	+0.120%	$9K	—	5x	as long as short
Extended ZEN-USDlong	0.0000%	1h	7.6123	long leg	$25K	$110K	5x
MEXC ZEN_USDT	+0.0002%	8h	7.6140	+0.022%	$12.1M	$7.4M	200x	as long as short
Binance ZENUSDT	+0.0002%	8h	7.6130	+0.009%	$10.8M	$36.8M	75x	as long as short
KuCoin ZENUSDTM	+0.0020%	8h	7.6130	+0.009%	$4.3M	$5.6M	50x	as long as short
Bitget ZENUSDT	+0.0023%	8h	7.6060	−0.083%	$2.8M	$4.1M	50x	as long as short
BingX ZEN-USDT	+0.0031%	8h	7.6090	−0.043%	—	$3.6M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0032%	8h	7.6123	0.000%	$40K	$318K	10x	as long as short
Bybit ZENUSDT	+0.0043%	8h	7.6100	−0.030%	$4.6M	$9.3M	75x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6320	+0.259%	$2.4M	$2.6M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6250	+0.167%	$575K	$1.4M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6190	+0.088%	$2K	$1.6M	20x	as long as short
BloFin ZEN-USDTshort	+0.0100%	8h	7.6230	+0.141%	$840K	$2.2M	75x
Kraken Futures PF_ZENUSD	+0.1177%	1h	7.6365	+0.317%	$480K	$1.2M	25x	as long as short