Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1267%/8h= +138.7% APRpaid last 24h +0.429%

Price spread now: Kraken Futures against Variational Omni+0.048%7-day average +0.261% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.281%+$128 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.048%, 7d avg +0.261%

Together, before fees+1.300%+ Points / potential airdropVariational Omni: Active · farm board+$130 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.213% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.048% now, against its 7-day average of +0.261%). If the spread goes back, that is −$21 on $10k: about 13 hours of funding at the current rate (+$38 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEN	7.6562	−0.0131	get 0.0131% / 8h	2h 32m	$51K	$219K	—
Short	Kraken Futures PF_ZENUSD	7.6599	0.1136	get 0.0142% / 1h	32m 49s	$493K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.048%Rate

Funding earned: $266.09
Price spread: +0.048% → +0.261%: −$21.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $234.78
Costs to cover: 0.100%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 56 min ago; Kraken Futures: live order book, 1 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, 56 min ago	5.95 bp	doesn't fit	146.9 bp −$1,469	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	50.27 bp	56.5 bp −$57	140.0 bp −$1,400	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	−0.0131%	8h	7.6562	long leg	$51K	$219K	—
OKX ZEN-USDT-SWAP	−0.0050%	4h	7.6430	−0.173%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6531	−0.041%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0021%	8h	7.6430	−0.173%	$12.0M	$6.1M	200x	as long as short
Binance ZENUSDT	+0.0021%	8h	7.6450	−0.146%	$11.0M	$32.7M	75x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.6440	−0.159%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0024%	8h	7.6500	−0.081%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0037%	8h	7.6360	−0.264%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0069%	8h	7.6447	−0.150%	$54K	$381K	10x	as long as short
BloFin ZEN-USDT	+0.0085%	8h	7.6430	−0.173%	$834K	$1.9M	75x	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	7.6591	+0.037%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6400	−0.212%	$4.6M	$7.1M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6450	−0.147%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6497	−0.086%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6670	+0.141%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6540	−0.029%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSDshort	+0.1136%	1h	7.6599	+0.048%	$493K	$1.1M	25x