Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: BingX against ApeX Omni−0.130%83s7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$590.590% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.130%, 7d avg −0.061%

Together, before fees+0.219%+$22 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: BingX is 0.068% cheaper against ApeX Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.061%. The two prices were read 83 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	ApeX Omni ZENUSDT	7.7170	0.0100	pay 0.0013% / 1h	2m 07s	$27K	$671K	50x
Short	BingX ZEN-USDT	7.7070	0.0100	get 0.0100% / 8h	1h 02m	—	$3.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.061%: −$6.83
Slippage, 4 orders: −$38.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$65.79
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 41 min ago; BingX: live order book, 3 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 ApeX Omni live order book, 41 min ago	6.47 bp	14.0 bp −$14	96.2 bp −$962	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	3.24 bp	15.5 bp −$15	37.0 bp −$370	158.5 bp −$15.9K	382.7 bp −$191.4K

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	7.7165	−0.007%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0021%	8h	7.7060	−0.143%	$4.1M	$4.0M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7250	+0.104%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7143	−0.035%	$43K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7100	−0.091%	$11.1M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7030	−0.181%	$4.5M	$5.6M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7060	−0.143%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7070	−0.130%	$12.2M	$5.1M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7070	−0.130%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDTshort	+0.0100%	8h	7.7070	−0.130%	—	$3.0M	—

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7251	+0.106%	$55K	$69K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7209	+0.050%	$579K	$2.7M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.7170	long leg	$27K	$671K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7130	−0.052%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7034	−0.177%	$22K	$130K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7170	0.000%	$838K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2855%	1h	7.7228	+0.075%	$494K	$877K	25x	as long as short