Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.023%

Price spread now: Bybit against ApeX Omni−0.235%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1081.083% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.437%−$44 · spread now −0.235%, 7d avg −0.100%

Together, before fees−0.442%−$44 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: Bybit is 0.135% cheaper against ApeX Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6690	0.0100	pay 0.0013% / 1h	29m 35s	$27K	$667K	50x
Short	Bybit ZENUSDT	7.6510	0.0100	get 0.0100% / 8h	7h 29m	$4.5M	$5.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.235%Rate

Funding earned: $0
Price spread: −0.235% → −0.100%: −$13.5
Slippage, 4 orders: −$87.27
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$121.77
Costs to cover: 1.083%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Bybit: 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, 4 min ago	7.80 bp	15.0 bp −$15	99.3 bp −$993	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.96 bp	34.0 bp −$34	219.1 bp −$2,191	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
dYdX ZEN-USD	0.0000%	1h	7.6559	−0.171%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0015%	8h	7.6600	−0.117%	$4.1M	$3.8M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6610	−0.104%	$43K	$394K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6576	−0.148%	$11.0M	$29.7M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.6510	−0.235%	$4.5M	$5.5M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6510	−0.235%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6620	−0.091%	$12.0M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6550	−0.183%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6530	−0.209%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6652	−0.049%	$54K	$60K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6553	−0.178%	$579K	$2.9M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.6690	long leg	$27K	$667K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6580	−0.143%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6591	−0.129%	$24K	$236K	5x	as long as short
Hyperliquid ZEN	+0.0168%	1h	7.6668	−0.029%	$2.4M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6550	−0.183%	$835K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1715%	1h	7.6656	−0.044%	$492K	$751K	25x	as long as short