Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.023%

Price spread now: ApeX Omni against Bybit+0.052%109s7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as 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−$1031.031% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.247%+$25 · spread now +0.052%, 7d avg +0.099%

Together, before fees+0.257%+$26 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 0.046% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.099%. The two prices were read 109 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	Bybit ZENUSDT	7.6310	0.0100	pay 0.0100% / 8h	3h 45m	$4.5M	$5.8M	75x
Short	ApeX Omni ZENUSDT	7.6350	0.0100	get 0.0013% / 1h	45m 46s	$26K	$681K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → +0.099%: −$4.61
Slippage, 4 orders: −$82.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$107.72
Costs to cover: 1.031%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 8 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 Bybit live order book, 2 min ago	3.28 bp	37.6 bp −$38	153.1 bp −$1,531	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	6.51 bp	14.3 bp −$14	113.7 bp −$1,137	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	7.6437	+0.166%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0042%	8h	7.6310	0.000%	$4.1M	$4.3M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0043%	4h	7.6330	+0.026%	$2.2M	$5.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6277	−0.043%	$48K	$381K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6330	+0.026%	$10.9M	$30.3M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6310	long leg	$4.5M	$5.8M	75x
MEXC ZEN_USDT	+0.0100%	8h	7.6310	0.000%	$11.5M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6280	−0.039%	$2.8M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6340	+0.039%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6332	+0.028%	$54K	$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	7.6390	+0.105%	$574K	$2.2M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6350	+0.052%	$26K	$681K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6400	+0.118%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6319	+0.011%	$25K	$147K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6360	+0.066%	$827K	$1.5M	75x	as long as short
Hyperliquid ZEN	+0.0231%	1h	7.6440	+0.170%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2343%	1h	7.6548	+0.312%	$494K	$1.0M	25x	as long as short