Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: ApeX Omni against BingX+0.091%113s7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as 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−$590.586% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.217%+$22 · spread now +0.091%, 7d avg +0.055%

Together, before fees+0.146%+$15 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 0.036% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.055%. The two prices were read 113 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	BingX ZEN-USDT	7.6640	0.0100	pay 0.0100% / 8h	3h 11m	—	$3.1M	—
Short	ApeX Omni ZENUSDT	7.6710	0.0100	get 0.0013% / 1h	11m 41s	$27K	$683K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.091%Rate

Funding earned: $0
Price spread: +0.091% → +0.055%: $3.6
Slippage, 4 orders: −$38.6
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$55
Costs to cover: 0.586%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; ApeX Omni: live order book, 42 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 BingX live order book, 8 min ago	3.91 bp	14.8 bp −$15	33.5 bp −$335	307.9 bp −$30.8K	453.9 bp −$226.9K
Sell ApeX Omni live order book, 42 min ago	6.51 bp	14.3 bp −$14	113.7 bp −$1,137	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	7.6646	+0.008%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0062%	8h	7.6600	−0.052%	$4.1M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0065%	4h	7.6640	0.000%	$2.2M	$5.2M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6581	−0.077%	$44K	$385K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6630	−0.013%	$11.0M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6590	−0.065%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6620	−0.026%	$11.7M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6580	−0.078%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDTlong	+0.0100%	8h	7.6640	long leg	—	$3.1M	—
Variational Omni ZEN	+0.0100%	8h	7.6512	−0.168%	$55K	$89K	—	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	7.6711	+0.092%	$576K	$2.3M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6710	+0.091%	$27K	$683K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6680	+0.052%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6528	−0.147%	$25K	$142K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6640	0.000%	$825K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0272%	1h	7.6783	+0.187%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2337%	1h	7.6764	+0.162%	$495K	$1.0M	25x	as long as short