Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.027%

Price spread now: ApeX Omni against BloFin−0.334%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on BloFin Short on ApeX Omni

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)+0.177%+$18 · spread now −0.334%, 7d avg +0.060%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.395% cheaper against BloFin than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.7750	0.0220	pay 0.0220% / 8h	7h 55m	$832K	$1.6M	75x
Short	ApeX Omni ZENUSDT	7.7490	0.0100	get 0.0013% / 1h	55m 57s	$27K	$669K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.334%Rate

Funding earned: −$25.2
Price spread: −0.334% → +0.060%: −$39.47
Slippage, 4 orders: −$32.79
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$119.47
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 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 BloFin live order book, 2 min ago	5.14 bp	12.0 bp −$12	24.7 bp −$247	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 42 min ago	5.83 bp	13.8 bp −$14	99.4 bp −$994	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	7.7802	+0.067%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0020%	8h	7.7580	−0.219%	$4.1M	$3.8M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7435	−0.405%	$42K	$391K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7363	−0.498%	$11.1M	$29.7M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7350	−0.514%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7250	−0.643%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7560	−0.244%	$12.3M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7390	−0.463%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7580	−0.219%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7405	−0.444%	$55K	$69K	—	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	7.7590	−0.206%	$587K	$2.8M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7490	−0.334%	$27K	$669K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7560	−0.244%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7559	−0.246%	$22K	$234K	5x	as long as short
BloFin ZEN-USDTlong	+0.0220%	8h	7.7750	long leg	$832K	$1.6M	75x
Hyperliquid ZEN	+0.0265%	1h	7.7559	−0.246%	$2.4M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1692%	1h	7.7702	−0.062%	$498K	$754K	25x	as long as short