Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against Bybit+0.340%89s7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as 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−$1121.122% of the position

Long on Bybit Short on ApeX Omni

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)+0.128%+$13 · spread now +0.340%, 7d avg +0.105%

Together, before fees+0.131%+$13 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 0.235% dearer against Bybit than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.105%. The two prices were read 89 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	Bybit ZENUSDT	7.6410	0.0100	pay 0.0100% / 8h	2h 32m	$4.6M	$7.1M	75x
Short	ApeX Omni ZENUSDT	7.6670	0.0100	get 0.0013% / 1h	32m 00s	$27K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.340%Rate

Funding earned: $0
Price spread: +0.340% → +0.105%: $23.51
Slippage, 4 orders: −$91.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$88.69
Costs to cover: 1.122%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 56 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 Bybit live order book, 1 min ago	1.96 bp	46.3 bp −$46	162.1 bp −$1,621	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 56 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	−0.0131%	8h	7.6562	+0.199%	$51K	$219K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0051%	4h	7.6410	0.000%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6531	+0.159%	$9K	—	5x	as long as short
Binance ZENUSDT	+0.0021%	8h	7.6452	+0.055%	$11.0M	$32.7M	75x	as long as short
MEXC ZEN_USDT	+0.0021%	8h	7.6450	+0.052%	$12.0M	$6.1M	200x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.6440	+0.040%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0024%	8h	7.6460	+0.065%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0036%	8h	7.6390	−0.026%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0069%	8h	7.6419	+0.012%	$54K	$381K	10x	as long as short
BloFin ZEN-USDT	+0.0085%	8h	7.6430	+0.026%	$834K	$1.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6571	+0.211%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6410	long leg	$4.6M	$7.1M	75x
BingX ZEN-USDT	+0.0100%	8h	7.6450	+0.052%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6497	+0.114%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6670	+0.340%	$27K	$682K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6530	+0.157%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1136%	1h	7.6583	+0.227%	$493K	$1.1M	25x	as long as short