Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h +0.074%

Price spread now: BloFin against OKX+0.336%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$640.636% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.299%+$30 on $10k

Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.336%, 7d avg +0.036%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and BloFin is 0.300% dearer against OKX than usual: you sell high and buy low: +$30 more if the spread 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	7.7300	0.0058	pay 0.0029% / 4h	1h 45m	$2.3M	$5.4M	50x
Short	BloFin ZEN-USDT	7.7560	0.0220	get 0.0220% / 8h	1h 45m	$838K	$1.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.336%Rate

Funding earned: $34.1
Price spread: +0.336% → +0.036%: $30.01
Slippage, 4 orders: −$41.56
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $0.56
Costs to cover: 0.636%
Break-even: 6.9 days

Slippage from OKX: live order book, 3 min ago; BloFin: live order book, 3 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, 3 min ago	1.94 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.94 bp	13.0 bp −$13	32.9 bp −$329	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	7.7347	+0.061%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0058%	4h	7.7300	long leg	$2.3M	$5.4M	50x
KuCoin ZENUSDTM	+0.0069%	8h	7.7490	+0.246%	$4.1M	$4.1M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7561	+0.338%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7480	+0.233%	$44K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7450	+0.194%	$11.2M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7370	+0.091%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7520	+0.285%	$11.9M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7460	+0.207%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7470	+0.220%	—	$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	7.7271	−0.037%	$55K	$83K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7271	−0.038%	$575K	$2.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7290	−0.013%	$27K	$675K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7540	+0.310%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7531	+0.299%	$22K	$129K	5x	as long as short
BloFin ZEN-USDTshort	+0.0220%	8h	7.7560	+0.336%	$838K	$1.6M	75x
Kraken Futures PF_ZENUSD	+0.2836%	1h	7.7733	+0.561%	$497K	$1.0M	25x	as long as short