Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.043%

Price spread now: ApeX Omni against Hyperliquid−0.282%7-day average −0.086% · you buy dearer than you sell

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

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 3 days (all we have)+0.629%+$63 · spread now −0.282%, 7d avg −0.086%

Together, before fees+0.533%+ Points / potential airdropHyperliquid: Season 2 · farm board+$53 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 0.196% cheaper against Hyperliquid than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZEN	7.6907	0.0100	pay 0.0013% / 1h	15m 06s	$2.4M	$1.9M	5x
Short	ApeX Omni ZENUSDT	7.6690	0.0100	get 0.0013% / 1h	15m 06s	$27K	$681K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.282%Rate

Funding earned: $0
Price spread: −0.282% → −0.086%: −$19.6
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$38.6
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 min ago; ApeX Omni: live order book, 8 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 Hyperliquid live order book, 6 min ago	1.88 bp	14.5 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	6.52 bp	14.1 bp −$14	98.1 bp −$981	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	−0.0079%	8h	7.6852	−0.072%	$51K	$151K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0039%	4h	7.6660	−0.321%	$2.3M	$5.9M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6862	−0.058%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0030%	8h	7.6700	−0.269%	$12.2M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0031%	8h	7.6710	−0.256%	$11.0M	$32.3M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.6674	−0.302%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0039%	8h	7.6760	−0.191%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0047%	8h	7.6720	−0.243%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0082%	8h	7.6715	−0.249%	$54K	$381K	10x	as long as short
Hyperliquid ZENlong	+0.0100%	1h	7.6907	long leg	$2.4M	$1.9M	5x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6690	−0.282%	$4.6M	$6.9M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6740	−0.217%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6842	−0.084%	$585K	$1.6M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6690	−0.282%	$27K	$681K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6660	−0.321%	$2K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0122%	8h	7.6710	−0.256%	$833K	$1.9M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1130%	1h	7.6972	+0.085%	$495K	$1.1M	25x	as long as short