Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h +0.030%

Price spread now: BloFin against ApeX Omni+0.287%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.233%+$23 on $10k

Price spread, last 3 days (all we have)−0.315%−$31 · spread now +0.287%, 7d avg −0.045%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.332% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.287% now, against its 7-day average of −0.045%): +$33 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 17 days. Mind the row above: over the last 7 days funding on this pair paid +0.233%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6720	0.0100	pay 0.0013% / 1h	45m 11s	$27K	$684K	50x
Short	BloFin ZEN-USDT	7.6940	0.0034	get 0.0034% / 8h	1h 45m	$835K	$1.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.287%Rate

Funding earned: −$13.94
Price spread: +0.287% → −0.045%: $33.17
Slippage, 4 orders: −$35.69
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$38.46
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 38 min ago; BloFin: 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, 38 min ago	6.52 bp	15.1 bp −$15	121.4 bp −$1,214	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.61 bp	14.2 bp −$14	26.2 bp −$262	94.1 bp −$9,413	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
OKX ZEN-USDT-SWAP	−0.0085%	4h	7.6840	+0.156%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0056%	8h	7.6768	+0.062%	$51K	$150K	—	as long as short
KuCoin ZENUSDTM	−0.0022%	8h	7.7000	+0.365%	$4.3M	$5.1M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7002	+0.367%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6948	+0.297%	$25K	$110K	5x	as long as short
MEXC ZEN_USDT	+0.0008%	8h	7.6960	+0.313%	$12.3M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0008%	8h	7.6957	+0.309%	$11.0M	$32.0M	75x	as long as short
BloFin ZEN-USDTshort	+0.0034%	8h	7.6940	+0.287%	$835K	$1.9M	75x
Bitget ZENUSDT	+0.0040%	8h	7.6990	+0.352%	$2.9M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0067%	8h	7.6943	+0.291%	$53K	$381K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6910	+0.248%	$4.7M	$6.7M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6940	+0.287%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6801	+0.105%	$573K	$1.6M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.6720	long leg	$27K	$684K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6940	+0.287%	$1K	$1.4M	20x	as long as short
Hyperliquid ZEN	+0.0115%	1h	7.7006	+0.373%	$2.4M	$1.9M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1888%	1h	7.7178	+0.597%	$497K	$1.1M	25x	as long as short