Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.048%

Price spread now: OKX against Extended+0.015%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.015%, 7d avg −0.029%

Together, before fees−0.078%+ 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: OKX is 0.043% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6999	0.0104	pay 0.0013% / 1h	1m 17s	$22K	$130K	5x
Short	OKX ZEN-USDT-SWAP	7.7010	0.0100	get 0.0050% / 4h	1h 01m	$2.3M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$0.84
Price spread: +0.015% → −0.029%: $4.32
Slippage, 4 orders: −$61.07
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$72.59
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from Extended: live order book, 39 min ago; OKX: 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, 39 min ago	2.27 bp	18.8 bp −$19	196.5 bp −$1,965	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.95 bp	20.2 bp −$20	62.2 bp −$622	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	7.7165	+0.215%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0018%	8h	7.7030	+0.040%	$4.1M	$4.0M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7181	+0.237%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7091	+0.120%	$43K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7025	+0.033%	$11.1M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6980	−0.024%	$4.5M	$5.6M	75x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0100%	4h	7.7010	+0.015%	$2.3M	$5.3M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.7020	+0.027%	$12.2M	$5.1M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7020	+0.027%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7030	+0.040%	—	$3.0M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7251	+0.328%	$55K	$69K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7070	+0.092%	$578K	$2.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7170	+0.222%	$27K	$671K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7090	+0.118%	$1K	$1.3M	20x	as long as short
Extended ZEN-USDlong	+0.0104%	1h	7.6999	long leg	$22K	$130K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.7070	+0.092%	$837K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2854%	1h	7.7248	+0.323%	$494K	$877K	25x	as long as short