Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against Binance−0.441%69s7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$560.561% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 3 days (all we have)+0.397%+$40 · spread now −0.441%, 7d avg +0.031%

Together, before fees+0.382%+$38 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.472% cheaper against Binance than usual: you would sell low and buy high, −$47 on $10k if it goes back to its 7-day average of +0.031%. The two prices were read 69 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	Binance ZENUSDT	7.8155	0.0100	pay 0.0100% / 8h	7h 14m	$11.4M	$31.3M	75x
Short	ApeX Omni ZENUSDT	7.7810	0.0100	get 0.0013% / 1h	14m 25s	$27K	$688K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.441%Rate

Funding earned: $0
Price spread: −0.441% → +0.031%: −$47.18
Slippage, 4 orders: −$36.15
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$103.33
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; ApeX Omni: live order book, 59 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 Binance live order book, 12 min ago	0.64 bp	10.9 bp −$11	31.0 bp −$310	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	7.75 bp	17.5 bp −$17	113.9 bp −$1,139	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	7.8007	−0.189%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0019%	8h	7.7858	−0.380%	$52K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.8046	−0.139%	$53K	$379K	10x	as long as short
Binance ZENUSDTlong	+0.0100%	8h	7.8155	long leg	$11.4M	$31.3M	75x
Bybit ZENUSDT	+0.0100%	8h	7.8080	−0.095%	$4.7M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.8140	−0.019%	$2.4M	$5.7M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.8080	−0.095%	$12.5M	$5.3M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.8120	−0.044%	$4.5M	$4.8M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.8060	−0.121%	$2.9M	$3.4M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.8130	−0.031%	—	$3.3M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7898	−0.328%	$589K	$1.7M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7810	−0.441%	$27K	$688K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7940	−0.275%	$2K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.8053	−0.129%	$22K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.8110	−0.057%	$850K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0319%	1h	7.8296	+0.181%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2961%	1h	7.8353	+0.253%	$513K	$1.0M	25x	as long as short