Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.030%

Price spread now: ApeX Omni against BloFin+0.129%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on BloFin Short on ApeX Omni

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)−0.365%−$37 · spread now +0.129%, 7d avg +0.043%

Together, before fees−0.598%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.086% dearer against BloFin than usual: you sell high and buy low (spread +0.129% now, against its 7-day average of +0.043%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.7810	0.0174	pay 0.0174% / 8h	40m 51s	$846K	$1.8M	75x
Short	ApeX Omni ZENUSDT	7.7910	0.0100	get 0.0013% / 1h	40m 51s	$27K	$683K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.129%Rate

Funding earned: −$15.5
Price spread: +0.129% → +0.043%: $8.56
Slippage, 4 orders: −$34.15
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.1
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; ApeX Omni: live order book, 37 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 BloFin live order book, 2 min ago	2.57 bp	18.0 bp −$18	30.6 bp −$306	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	5.20 bp	14.7 bp −$15	100.4 bp −$1,004	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
Variational Omni ZEN	−0.0031%	8h	7.7815	+0.007%	$52K	$85K	—	as long as short
KuCoin ZENUSDTM	−0.0002%	8h	7.7940	+0.167%	$4.3M	$4.9M	50x	as long as short
OKX ZEN-USDT-SWAP	−0.0002%	4h	7.7870	+0.077%	$2.3M	$5.9M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7846	+0.046%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0053%	8h	7.8020	+0.270%	$12.5M	$5.4M	200x	as long as short
Binance ZENUSDT	+0.0054%	8h	7.7960	+0.193%	$11.3M	$31.5M	75x	as long as short
Extended ZEN-USD	+0.0056%	1h	7.7976	+0.213%	$26K	$118K	5x	as long as short
Bybit ZENUSDT	+0.0070%	8h	7.7870	+0.077%	$4.7M	$6.3M	75x	as long as short
BingX ZEN-USDT	+0.0094%	8h	7.7900	+0.116%	—	$3.4M	—	as long as short
Bitget ZENUSDT	+0.0097%	8h	7.7920	+0.141%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0100%	8h	7.7946	+0.175%	$53K	$375K	10x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7910	+0.129%	$591K	$1.7M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7910	+0.129%	$27K	$683K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7910	+0.129%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDTlong	+0.0174%	8h	7.7810	long leg	$846K	$1.8M	75x
Hyperliquid ZEN	+0.0425%	1h	7.8130	+0.411%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2635%	1h	7.8221	+0.528%	$512K	$1.0M	25x	as long as short