Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.3032%/8h= −332.1% APRpaid last 24h −0.473%

Price spread now: Variational Omni against Kraken Futures+0.076%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.076% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$91 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZENUSD	7.5674	0.3132	pay 0.0392% / 1h	48m 53s	$495K	$1.0M	25x
Short	Variational Omni ZEN	7.5732	0.0100	get 0.0100% / 8h	4h 48m	$50K	$85K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +0.076%Rate

Funding earned: −$636.82
Price spread: +0.076% → 0.000%: $7.61
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$639.21
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Variational Omni: no order-book sample. 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 Kraken Futures live order book, 4 min ago	20.96 bp	44.8 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni ZENUSDT	−0.0175%	1h	7.5870	+0.259%	$26K	$689K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.5767	+0.123%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0097%	4h	7.5490	−0.243%	$2.2M	$5.4M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.5520	−0.204%	$52K	$374K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.5483	−0.253%	$11.0M	$30.1M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.5470	−0.270%	$4.4M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.5510	−0.217%	$11.5M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.5460	−0.283%	$4.0M	$4.4M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.5450	−0.296%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.5480	−0.257%	—	$3.2M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZENshort	+0.0100%	8h	7.5732	+0.076%	$50K	$85K	—
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6070	+0.523%	$574K	$2.0M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.5500	−0.230%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.5514	−0.212%	$24K	$142K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.5500	−0.230%	$836K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0264%	1h	7.5667	−0.009%	$2.4M	$1.4M	5x	as long as short
Kraken Futures PF_ZENUSDlong	+0.3132%	1h	7.5674	long leg	$495K	$1.0M	25x