ZEN Funding Rate — live across 11 venues

Compared across 11 supported venues · net of estimated fees · updated every few minutes

Live annualized ZEN perpetual funding across all 11 venues Perpia tracks. Right now ZEN funding is positive on 10 and negative on 1, ranging from +10.9% on OKX to -5.9% on KuCoin — a spread of 16.9%. The widest delta-neutral trade is long KuCoin / short OKX at 13.6% net APR.

venues

paying positive

16.9%

funding spread

Best ZEN spread now

13.6%

net APR after fees

Long KuCoin→Short OKX

size depends on live venue depth — see the real cap in the scanner

ZEN funding trend & liquidity

169h of history

16.9%

current gross APR

19.8%

24h average

19.5%

7-day average

$948K

pair OI · lower leg

$1.9M

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

ZEN funding rate history

30d · 6h buckets · 11 venues

139%0-230.7%

3 Aug2 Sep

ZEN — average across 11 venuesAsterExtendedHyperliquidBinance

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +9.0%. A break in a line means no data was recorded for that stretch, not a zero rate.

ZEN funding rate by venue

22 pairs scanned

Venue	Funding APR	Interval
OKX ↗	+10.9%	4h
Bybit ↗	+10.9%	8h
BingX ↗	+10.9%	8h
Hyperliquid ↗	+10.9%	1h
Variational ↗	+10.9%	8h
Aster ↗	+4.5%	1h
Bitget ↗	+2.1%	8h
Extended ↗	+1.8%	1h
MEXC ↗	+1.6%	8h
Binance ↗	+1.4%	8h
KuCoin ↗	-5.9%	8h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the KuCoin vs OKX page.

ZEN arbitrage — 30-day backtest

long KuCoin · short OKX

6.8%

backtested APR

+$56

historical net P&L on $10,000

0.04%

max drawdown

$10,000$10,056

30 days agostarting capital $10,000today

Over the last 30 days, holding long KuCoin / short OKX would have produced 6.8% APR — versus the 13.6% the live spread implies right now (equity $10,000 → $10,056). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading ZEN backtest…

ZEN funding — FAQ

Is ZEN funding positive right now?

ZEN perpetual funding is positive on 10 of 11 venues Perpia tracks and negative on 1. The highest is +10.9% on OKX; the lowest is -5.9% on KuCoin.

What is the best ZEN funding arbitrage right now?

Go long KuCoin and short OKX for about 13.6% net APR after fees — the widest delta-neutral ZEN spread Perpia currently sees.

Which exchange has the highest ZEN funding rate?

OKX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How ZEN funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to ZEN

Markets also quoted on both KuCoin and OKX — the same two exchanges you would already have funded for the ZEN trade.

See every spread between them on the KuCoin vs OKX page.

Open the live scanner →All funding rates Funding by exchange How we calculate this