Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.023%

Price spread now: Extended against KuCoin+0.082%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1131.133% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now +0.082%, 7d avg −0.054%

Together, before fees−0.014%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Extended is 0.136% dearer against KuCoin than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.7390	0.0093	pay 0.0093% / 8h	2h 06m	$4.1M	$4.1M	50x
Short	Extended ZEN-USD	7.7454	0.0104	get 0.0013% / 1h	6m 16s	$25K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.082%Rate

Funding earned: $2.31
Price spread: +0.082% → −0.054%: $13.63
Slippage, 4 orders: −$96.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$97.33
Costs to cover: 1.133%
Break-even: 301.9 days

Slippage from KuCoin: live order book, 1 min ago; Extended: live order book, 39 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 KuCoin live order book, 1 min ago	6.47 bp	39.9 bp −$40	94.4 bp −$944	doesn't fit	doesn't fit
Sell Extended live order book, 39 min ago	3.22 bp	19.4 bp −$19	147.5 bp −$1,475	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	7.7351	−0.050%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0092%	4h	7.7420	+0.039%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTMlong	+0.0093%	8h	7.7390	long leg	$4.1M	$4.1M	50x
Hyperliquid ZEN	+0.0100%	1h	7.7557	+0.216%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7470	+0.103%	$44K	$392K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7475	+0.110%	$11.2M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7400	+0.013%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7450	+0.078%	$11.9M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7460	+0.090%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7450	+0.078%	—	$3.1M	—	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	7.7331	−0.076%	$55K	$88K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7567	+0.229%	$582K	$2.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7410	+0.026%	$27K	$676K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7440	+0.065%	$1K	$1.3M	20x	as long as short
Extended ZEN-USDshort	+0.0104%	1h	7.7454	+0.082%	$25K	$132K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.7440	+0.065%	$821K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3054%	1h	7.7665	+0.355%	$496K	$1.0M	25x	as long as short