Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.081%

Price spread now: BingX against OKX−0.051%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.051%, 7d avg +0.012%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.063% cheaper against OKX than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.012%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7710	0.0001	pay 0.0000% / 4h	22m 44s	$2.3M	$5.8M	50x
Short	BingX ZEN-USDT	7.7670	0.0100	get 0.0100% / 8h	22m 44s	—	$3.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $20.85
Price spread: −0.051% → +0.012%: −$6.34
Slippage, 4 orders: −$47.23
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$52.71
Costs to cover: 0.672%
Break-even: 24.7 days

Slippage from OKX: live order book, 5 min ago; BingX: live order book, 12 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, 5 min ago	2.57 bp	20.8 bp −$21	206.1 bp −$2,061	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.85 bp	14.6 bp −$15	39.1 bp −$391	203.0 bp −$20.3K	492.9 bp −$246.5K

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	−0.0037%	8h	7.7806	+0.124%	$52K	$85K	—	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7681	−0.038%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0001%	4h	7.7710	long leg	$2.3M	$5.8M	50x
KuCoin ZENUSDTM	+0.0018%	8h	7.7750	+0.051%	$4.5M	$4.9M	50x	as long as short
Bybit ZENUSDT	+0.0037%	8h	7.7740	+0.039%	$4.7M	$6.3M	75x	as long as short
Binance ZENUSDT	+0.0069%	8h	7.7780	+0.090%	$11.3M	$31.5M	75x	as long as short
MEXC ZEN_USDT	+0.0070%	8h	7.7770	+0.077%	$12.6M	$5.5M	200x	as long as short
Extended ZEN-USD	+0.0072%	1h	7.7698	−0.015%	$25K	$118K	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7796	+0.111%	$53K	$375K	10x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7720	+0.013%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDTshort	+0.0100%	8h	7.7670	−0.051%	—	$3.4M	—
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7899	+0.243%	$581K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7710	0.000%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7590	−0.154%	$2K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0190%	8h	7.7570	−0.180%	$846K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0458%	1h	7.7920	+0.270%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2644%	1h	7.7956	+0.317%	$510K	$1.0M	25x	as long as short