Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.018%

Price spread now: ApeX Omni against Bitget+0.170%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 3 days (all we have)+0.483%+$48 · spread now +0.170%, 7d avg +0.051%

Together, before fees+0.416%+$42 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 ApeX Omni is 0.119% dearer against Bitget than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.051%. Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.6430	0.0039	pay 0.0039% / 8h	2h 51m	$2.8M	$3.7M	50x
Short	ApeX Omni ZENUSDT	7.6560	0.0072	get 0.0009% / 1h	51m 14s	$27K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now +0.170%Rate

Funding earned: $6.85
Price spread: +0.170% → +0.051%: $11.93
Slippage, 4 orders: −$37.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$41.06
Costs to cover: 0.598%
Break-even: 49.0 days

Slippage from Bitget: live order book, 2 min ago; ApeX Omni: live order book, 37 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 Bitget live order book, 2 min ago	1.96 bp	18.3 bp −$18	48.5 bp −$485	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	5.20 bp	12.6 bp −$13	92.0 bp −$920	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	−0.0165%	8h	7.6195	−0.308%	$51K	$232K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0027%	4h	7.6340	−0.118%	$2.3M	$6.5M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6440	+0.013%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0014%	8h	7.6350	−0.105%	$12.0M	$6.0M	200x	as long as short
Binance ZENUSDT	+0.0015%	8h	7.6360	−0.092%	$10.9M	$33.7M	75x	as long as short
Extended ZEN-USD	+0.0016%	1h	7.6342	−0.115%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0017%	8h	7.6480	+0.065%	$4.3M	$5.3M	50x	as long as short
Bitget ZENUSDTlong	+0.0039%	8h	7.6430	long leg	$2.8M	$3.7M	50x
Aster ZENUSDT	+0.0056%	8h	7.6436	+0.008%	$54K	$388K	10x	as long as short
BloFin ZEN-USDT	+0.0059%	8h	7.6330	−0.131%	$835K	$2.0M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZENUSDTshort	+0.0072%	1h	7.6560	+0.170%	$27K	$682K	50x
Bybit ZENUSDT	+0.0099%	8h	7.6320	−0.144%	$4.6M	$7.4M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6380	−0.065%	—	$3.4M	—	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6539	+0.143%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6518	+0.115%	$580K	$1.6M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6400	−0.039%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6490	+0.078%	$492K	$1.1M	25x	as long as short