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 −0.012%

Price spread now: ApeX Omni against BingX−0.428%98s7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as 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−$650.645% of the position

Long on BingX Short on ApeX Omni

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)+1.117%+$112 · spread now −0.428%, 7d avg +0.057%

Together, before fees+1.046%+$105 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: ApeX Omni is 0.484% cheaper against BingX than usual: you would sell low and buy high, −$48 on $10k if it goes back to its 7-day average of +0.057%. The two prices were read 98 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	BingX ZEN-USDT	7.7190	0.0100	pay 0.0100% / 8h	7h 22m	—	$2.9M	—
Short	ApeX Omni ZENUSDT	7.6860	0.0100	get 0.0013% / 1h	22m 00s	$27K	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.428%Rate

Funding earned: $0
Price spread: −0.428% → +0.057%: −$48.42
Slippage, 4 orders: −$44.53
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$112.95
Costs to cover: 0.645%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; ApeX Omni: live order book, 11 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 BingX live order book, 12 min ago	4.55 bp	16.1 bp −$16	37.8 bp −$378	330.1 bp −$33.0K	491.3 bp −$245.6K
Sell ApeX Omni live order book, 11 min ago	7.80 bp	17.6 bp −$18	111.2 bp −$1,112	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	7.7121	−0.089%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0023%	8h	7.7180	−0.013%	$4.1M	$3.7M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7235	+0.058%	$43K	$394K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7240	+0.065%	$11.1M	$29.7M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7210	+0.026%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7170	−0.026%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7240	+0.065%	$12.1M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7180	−0.013%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDTlong	+0.0100%	8h	7.7190	long leg	—	$2.9M	—
Variational Omni ZEN	+0.0100%	8h	7.6665	−0.680%	$54K	$51K	—	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	7.6754	−0.564%	$580K	$2.9M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6860	−0.428%	$27K	$667K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7290	+0.130%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7221	+0.040%	$24K	$231K	5x	as long as short
Hyperliquid ZEN	+0.0133%	1h	7.7385	+0.253%	$2.4M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7160	−0.039%	$844K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1700%	1h	7.7335	+0.188%	$497K	$747K	25x	as long as short