Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.015%

Price spread now: Bybit against ApeX Omni−0.079%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$990.994% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.593%−$59 · spread now −0.079%, 7d avg −0.104%

Together, before fees−0.597%−$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bybit is 0.026% dearer against ApeX Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6400	0.0081	pay 0.0010% / 1h	49m 00s	$27K	$682K	50x
Short	Bybit ZENUSDT	7.6340	0.0097	get 0.0097% / 8h	2h 49m	$4.6M	$7.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.079%Rate

Funding earned: $3.41
Price spread: −0.079% → −0.104%: $2.56
Slippage, 4 orders: −$78.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.43
Costs to cover: 0.994%
Break-even: 198.7 days

Slippage from ApeX Omni: live order book, 39 min ago; Bybit: live order book, 4 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, 39 min ago	5.20 bp	14.5 bp −$14	107.5 bp −$1,075	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.96 bp	34.9 bp −$35	159.0 bp −$1,590	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
Variational Omni ZEN	−0.0157%	8h	7.6310	−0.117%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0045%	4h	7.6350	−0.065%	$2.3M	$6.4M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6440	+0.052%	$9K	—	5x	as long as short
Binance ZENUSDT	+0.0012%	8h	7.6350	−0.065%	$10.9M	$33.6M	75x	as long as short
KuCoin ZENUSDTM	+0.0013%	8h	7.6390	−0.013%	$4.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0014%	8h	7.6350	−0.065%	$12.0M	$6.0M	200x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6343	−0.075%	$25K	$110K	5x	as long as short
Bitget ZENUSDT	+0.0036%	8h	7.6280	−0.157%	$2.8M	$3.7M	50x	as long as short
BloFin ZEN-USDT	+0.0049%	8h	7.6300	−0.131%	$835K	$2.0M	75x	as long as short
Aster ZENUSDT	+0.0055%	8h	7.6420	+0.026%	$54K	$388K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZENUSDTlong	+0.0081%	1h	7.6400	long leg	$27K	$682K	50x
Bybit ZENUSDTshort	+0.0097%	8h	7.6340	−0.079%	$4.6M	$7.3M	75x
BingX ZEN-USDT	+0.0098%	8h	7.6350	−0.065%	—	$3.5M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6438	+0.050%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6360	−0.052%	$578K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6380	−0.026%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6535	+0.177%	$492K	$1.1M	25x	as long as short