Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.029%

Price spread now: Variational Omni against dYdX−0.143%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.143% cheaper against dYdX than usual: you would sell low and buy high (spread −0.143% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.6575	0	get 0.0000% / 1h	53m 23s	$9K	—	5x
Short	Variational Omni ZEN	7.6466	0.0100	get 0.0100% / 8h	5h 53m	$50K	$55K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.143%Rate

Funding earned: $21
Price spread: −0.143% → 0.000%: −$14.31
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.31
Costs to cover: 0.100%
Break-even: 8.1 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: no order-book sample. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

dYdX and Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ZEN on 17 exchanges

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-USDlong	0.0000%	1h	7.6575	long leg	$9K	—	5x
KuCoin ZENUSDTM	+0.0004%	8h	7.6440	−0.176%	$4.2M	$3.5M	50x	as long as short
ApeX Omni ZENUSDT	+0.0004%	1h	7.6470	−0.137%	$26K	$665K	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0082%	4h	7.6380	−0.255%	$2.2M	$4.9M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6486	−0.116%	$2.4M	$1.0M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6428	−0.192%	$37K	$383K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6384	−0.249%	$11.0M	$28.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6420	−0.202%	$4.5M	$4.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6390	−0.242%	$12.0M	$4.8M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6530	−0.059%	$2.8M	$2.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.6380	−0.255%	—	$2.8M	—	as long as short
Variational Omni ZENshort	+0.0100%	8h	7.6466	−0.143%	$50K	$55K	—
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6403	−0.225%	$571K	$3.2M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6430	−0.189%	$2K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6373	−0.263%	$22K	$236K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6420	−0.202%	$827K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1150%	1h	7.6505	−0.092%	$492K	$604K	25x	as long as short