Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.060%

Price spread now: Variational Omni against Extended+0.278%7-day average −0.028% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 3 days (all we have)+0.491%+$49 · spread now +0.278%, 7d avg −0.028%

Together, before fees+0.351%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.305% dearer against Extended than usual: you sell high and buy low (spread +0.278% now, against its 7-day average of −0.028%): +$31 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6334	0.0016	pay 0.0002% / 1h	58m 19s	$25K	$110K	5x
Short	Variational Omni ZEN	7.6546	−0.0172	pay 0.0172% / 8h	2h 58m	$51K	$232K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.278%Rate

Funding earned: −$39.48
Price spread: +0.278% → −0.028%: $30.52
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.96
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 27 min ago; Variational Omni: RFQ quote, 30 min ago. Net counts fees only.

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 Extended live order book, 27 min ago	2.80 bp	21.0 bp −$21	193.4 bp −$1,934	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 30 min ago	5.95 bp	doesn't fit	155.0 bp −$1,550	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 ZENshort	−0.0172%	8h	7.6546	+0.278%	$51K	$232K	—
OKX ZEN-USDT-SWAP	−0.0034%	4h	7.6280	−0.071%	$2.3M	$6.7M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6566	+0.303%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0013%	8h	7.6430	+0.125%	$4.3M	$5.4M	50x	as long as short
Binance ZENUSDT	+0.0013%	8h	7.6253	−0.106%	$10.9M	$34.4M	75x	as long as short
MEXC ZEN_USDT	+0.0014%	8h	7.6370	+0.047%	$12.0M	$6.0M	200x	as long as short
Extended ZEN-USDlong	+0.0016%	1h	7.6334	long leg	$25K	$110K	5x
Bitget ZENUSDT	+0.0038%	8h	7.6380	+0.060%	$2.8M	$3.8M	50x	as long as short
BloFin ZEN-USDT	+0.0057%	8h	7.6490	+0.204%	$837K	$2.0M	75x	as long as short
Aster ZENUSDT	+0.0060%	8h	7.6460	+0.165%	$54K	$388K	10x	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	7.6532	+0.259%	$2.4M	$2.4M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6310	−0.032%	$4.5M	$7.6M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6350	+0.021%	—	$3.5M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6631	+0.388%	$579K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6680	+0.453%	$27K	$684K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6380	+0.060%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6512	+0.232%	$492K	$1.2M	25x	as long as short