Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.052%

Price spread now: OKX against ApeX Omni+0.104%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.665%−$66 · spread now +0.104%, 7d avg −0.113%

Together, before fees−0.725%−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.217% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of −0.113%): +$22 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 40 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6750	0.0100	pay 0.0013% / 1h	13m 22s	$27K	$684K	50x
Short	OKX ZEN-USDT-SWAP	7.6830	0.0082	get 0.0041% / 4h	13m 22s	$2.3M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$3.83
Price spread: +0.104% → −0.113%: $21.7
Slippage, 4 orders: −$39.27
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$41.4
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 45 min ago; OKX: live order book, 4 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, 45 min ago	6.56 bp	14.4 bp −$14	98.8 bp −$988	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.30 bp	16.7 bp −$17	77.0 bp −$770	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	7.6827	+0.100%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAPshort	+0.0082%	4h	7.6830	+0.104%	$2.3M	$5.4M	50x
Aster ZENUSDT	+0.0100%	8h	7.6852	+0.133%	$53K	$376K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6895	+0.189%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6840	+0.117%	$4.5M	$5.9M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6900	+0.195%	$11.7M	$5.1M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.6890	+0.182%	$4.1M	$4.4M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6850	+0.130%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6600	−0.195%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6632	−0.154%	$55K	$89K	—	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	7.6740	−0.013%	$581K	$2.1M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.6750	long leg	$27K	$684K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6870	+0.156%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6878	+0.167%	$22K	$144K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6790	+0.052%	$825K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0344%	1h	7.7072	+0.420%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3076%	1h	7.7053	+0.395%	$499K	$999K	25x	as long as short