Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0255%/8h= +27.9% APRpaid last 24h +0.056%

Price spread now: ApeX Omni against Variational Omni+0.072%7-day average +0.110% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.123%+$12 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now +0.072%, 7d avg +0.110%

Together, before fees+0.152%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.038% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.110%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.123% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEN	7.6295	−0.0155	get 0.0155% / 8h	2h 44m	$51K	$219K	—
Short	ApeX Omni ZENUSDT	7.6350	0.0100	get 0.0013% / 1h	44m 48s	$27K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.072%Rate

Funding earned: $53.52
Price spread: +0.072% → +0.110%: −$3.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $39.68
Costs to cover: 0.100%
Break-even: 1.8 days

Slippage unknown: Variational Omni: RFQ quote, 44 min ago; ApeX Omni: live order book, 43 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 Variational Omni RFQ quote, 44 min ago	5.95 bp	doesn't fit	146.9 bp −$1,469	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 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 ZENlong	−0.0155%	8h	7.6295	long leg	$51K	$219K	—
OKX ZEN-USDT-SWAP	−0.0065%	4h	7.6290	−0.007%	$2.3M	$6.2M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6370	+0.098%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0006%	8h	7.6380	+0.111%	$4.2M	$5.3M	50x	as long as short
Binance ZENUSDT	+0.0008%	8h	7.6353	+0.075%	$10.9M	$33.1M	75x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6351	+0.073%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0008%	8h	7.6360	+0.085%	$12.0M	$6.1M	200x	as long as short
Bitget ZENUSDT	+0.0030%	8h	7.6300	+0.006%	$2.8M	$3.6M	50x	as long as short
BloFin ZEN-USDT	+0.0031%	8h	7.6360	+0.085%	$838K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0053%	8h	7.6304	+0.011%	$54K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0097%	8h	7.6300	+0.006%	—	$3.4M	—	as long as short
Bybit ZENUSDT	+0.0097%	8h	7.6310	+0.019%	$4.6M	$7.2M	75x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6482	+0.245%	$2.4M	$2.1M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6311	+0.021%	$568K	$1.6M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6350	+0.072%	$27K	$682K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6440	+0.190%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1137%	1h	7.6545	+0.327%	$493K	$1.1M	25x	as long as short