Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.053%

Price spread now: Binance against OKX+0.091%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$660.660% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.091%, 7d avg +0.036%

Together, before fees+0.020%+$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 0.054% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7060	0.0100	pay 0.0050% / 4h	1h 57m	$2.3M	$5.4M	50x
Short	Binance ZENUSDT	7.7130	0.0100	get 0.0100% / 8h	5h 57m	$11.2M	$30.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.091%Rate

Funding earned: $0
Price spread: +0.091% → +0.036%: $5.44
Slippage, 4 orders: −$46.03
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$60.59
Costs to cover: 0.660%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Binance: live order book, 14 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 OKX live order book, 6 min ago	1.93 bp	18.3 bp −$18	114.6 bp −$1,146	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.64 bp	13.7 bp −$14	35.5 bp −$355	237.9 bp −$23.8K	doesn't fit

ZEN on 16 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	7.7197	+0.178%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0098%	8h	7.7671	+0.793%	$52K	$84K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7242	+0.237%	$55K	$375K	10x	as long as short
Binance ZENUSDTshort	+0.0100%	8h	7.7130	+0.091%	$11.2M	$30.3M	75x
Bybit ZENUSDT	+0.0100%	8h	7.7030	−0.039%	$4.6M	$5.8M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.7060	long leg	$2.3M	$5.4M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.7130	+0.091%	$12.1M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7100	+0.052%	$4.1M	$4.6M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7100	+0.052%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7120	+0.078%	—	$3.2M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7610	+0.714%	$578K	$1.8M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7570	+0.662%	$26K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7150	+0.117%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7072	+0.016%	$24K	$124K	5x	as long as short
Hyperliquid ZEN	+0.0318%	1h	7.7290	+0.298%	$2.5M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3175%	1h	7.7389	+0.427%	$506K	$1.0M	25x	as long as short