Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0142%/8h= +15.6% APRpaid last 24h +0.044%

Price spread now: dYdX against Variational Omni+0.109%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on dYdX

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and dYdX is 0.109% dearer against Variational Omni than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEN	7.6510	−0.0142	get 0.0142% / 8h	2h 35m	$51K	$219K	—
Short	dYdX ZEN-USD	7.6593	0	get 0.0000% / 1h	35m 46s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now +0.109%Rate

Funding earned: $29.89
Price spread: +0.109% → 0.000%: $10.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $30.75
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; dYdX: 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 Variational Omni RFQ quote, 53 min ago	5.95 bp	doesn't fit	146.9 bp −$1,469	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Variational Omni ZENlong	−0.0142%	8h	7.6510	long leg	$51K	$219K	—
OKX ZEN-USDT-SWAP	−0.0047%	4h	7.6490	−0.027%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USDshort	0.0000%	1h	7.6593	+0.109%	$9K	—	5x
Extended ZEN-USD	+0.0016%	1h	7.6521	+0.014%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0018%	8h	7.6520	+0.013%	$12.1M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0021%	8h	7.6540	+0.039%	$11.0M	$32.8M	75x	as long as short
KuCoin ZENUSDTM	+0.0024%	8h	7.6590	+0.104%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0038%	8h	7.6450	−0.079%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0067%	8h	7.6680	+0.222%	$836K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0068%	8h	7.6533	+0.029%	$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
Hyperliquid ZEN	+0.0100%	1h	7.6692	+0.237%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6500	−0.014%	$4.6M	$7.1M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6540	+0.039%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6526	+0.020%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6530	+0.026%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6600	+0.117%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1134%	1h	7.6702	+0.250%	$494K	$1.1M	25x	as long as short