Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.008%

Price spread now: Aster against ApeX Omni+0.370%89s7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2472.468% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−1.472%−$147 · spread now +0.370%, 7d avg −0.016%

Together, before fees−1.445%+ Points / potential airdropAster: Stage 5 · farm board−$144 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.385% dearer against ApeX Omni than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.016%. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6980	0.0066	pay 0.0008% / 1h	32m 01s	$26K	$689K	50x
Short	Aster ZENUSDT	7.7265	0.0100	get 0.0100% / 8h	6h 32m	$55K	$383K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.370%Rate

Funding earned: $7.12
Price spread: +0.370% → −0.016%: $38.53
Slippage, 4 orders: −$228.79
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$201.14
Costs to cover: 2.468%
Break-even: 204.7 days

Slippage from ApeX Omni: live order book, 36 min ago; Aster: live order book, 35 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 ApeX Omni live order book, 36 min ago	8.97 bp	16.5 bp −$16	106.8 bp −$1,068	doesn't fit	doesn't fit
Sell Aster live order book, 35 min ago	10.24 bp	190.1 bp −$190	doesn't fit	doesn't fit	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	7.7178	+0.257%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0060%	8h	7.6878	−0.132%	$51K	$85K	—	as long as short
ApeX Omni ZENUSDTlong	+0.0066%	1h	7.6980	long leg	$26K	$689K	50x
Aster ZENUSDTshort	+0.0100%	8h	7.7265	+0.370%	$55K	$383K	10x
Binance ZENUSDT	+0.0100%	8h	7.7260	+0.364%	$11.2M	$31.5M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7190	+0.273%	$4.6M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7210	+0.299%	$2.3M	$5.6M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7260	+0.364%	$12.1M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.7300	+0.416%	$4.4M	$4.7M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7270	+0.377%	$2.9M	$3.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7230	+0.325%	—	$3.3M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7010	+0.039%	$586K	$1.8M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7200	+0.286%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7240	+0.337%	$28K	$122K	5x	as long as short
Hyperliquid ZEN	+0.0401%	1h	7.7399	+0.544%	$2.5M	$1.6M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3201%	1h	7.7522	+0.704%	$507K	$1.0M	25x	as long as short