Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.046%

Price spread now: ApeX Omni against OKX+0.039%50s7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as 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−$730.729% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.740%+$74 · spread now +0.039%, 7d avg +0.107%

Together, before fees+0.802%+$80 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 0.068% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.107%. The two prices were read 50 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	OKX ZEN-USDT-SWAP	7.7640	0.0100	pay 0.0050% / 4h	3h 12m	$2.3M	$5.3M	50x
Short	ApeX Omni ZENUSDT	7.7670	0.0100	get 0.0013% / 1h	12m 47s	$27K	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → +0.107%: −$6.83
Slippage, 4 orders: −$52.87
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$79.71
Costs to cover: 0.729%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 20 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 OKX live order book, 5 min ago	1.29 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 20 min ago	7.80 bp	17.6 bp −$18	111.2 bp −$1,112	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	7.7523	−0.151%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0029%	8h	7.7610	−0.039%	$4.1M	$3.7M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7706	+0.085%	$43K	$388K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7660	+0.026%	$11.2M	$29.3M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7630	−0.013%	$4.5M	$5.4M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.7640	long leg	$2.3M	$5.3M	50x
MEXC ZEN_USDT	+0.0100%	8h	7.7650	+0.013%	$12.2M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7610	−0.039%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7570	−0.090%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7564	−0.098%	$55K	$51K	—	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	7.7668	+0.036%	$585K	$3.0M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7670	+0.039%	$27K	$667K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7530	−0.142%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7528	−0.144%	$22K	$236K	5x	as long as short
Hyperliquid ZEN	+0.0149%	1h	7.7816	+0.227%	$2.5M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7550	−0.116%	$839K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1693%	1h	7.7671	+0.039%	$499K	$701K	25x	as long as short