Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.027%

Price spread now: BloFin against ApeX Omni+0.539%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)−0.567%−$57 · spread now +0.539%, 7d avg −0.055%

Together, before fees−0.330%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.594% dearer against ApeX Omni than usual: you sell high and buy low: +$59 more if the spread goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6060	0.0100	pay 0.0013% / 1h	55m 37s	$26K	$679K	50x
Short	BloFin ZEN-USDT	7.6470	0.0220	get 0.0220% / 8h	2h 55m	$830K	$1.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.539%Rate

Funding earned: $25.2
Price spread: +0.539% → −0.055%: $59.42
Slippage, 4 orders: −$32.42
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $30.2
Costs to cover: 0.544%
Break-even: from the start

Slippage from ApeX Omni: live order book, 58 min ago; BloFin: live order book, 2 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, 58 min ago	6.51 bp	14.0 bp −$14	101.0 bp −$1,010	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.96 bp	15.5 bp −$16	46.8 bp −$468	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	7.6196	+0.179%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0053%	8h	7.6250	+0.250%	$4.0M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0070%	4h	7.6110	+0.066%	$2.2M	$5.2M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6296	+0.310%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6253	+0.253%	$43K	$388K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6166	+0.139%	$10.9M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6160	+0.131%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6160	+0.131%	$11.5M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6230	+0.224%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6200	+0.184%	—	$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	7.6327	+0.351%	$54K	$89K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6200	+0.184%	$574K	$2.3M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.6060	long leg	$26K	$679K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6400	+0.447%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6146	+0.112%	$25K	$133K	5x	as long as short
BloFin ZEN-USDTshort	+0.0220%	8h	7.6470	+0.539%	$830K	$1.6M	75x
Kraken Futures PF_ZENUSD	+0.3100%	1h	7.6514	+0.597%	$493K	$1.0M	25x	as long as short