Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.023%

Price spread now: ApeX Omni against KuCoin+0.324%67s7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as 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−$1231.228% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.357%−$36 · spread now +0.324%, 7d avg +0.026%

Together, before fees−0.265%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.298% dearer against KuCoin than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.026%. The two prices were read 67 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	KuCoin ZENUSDTM	7.7250	0.0054	pay 0.0054% / 8h	1h 40m	$4.1M	$4.1M	50x
Short	ApeX Omni ZENUSDT	7.7500	0.0100	get 0.0013% / 1h	40m 25s	$27K	$674K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.324%Rate

Funding earned: $9.66
Price spread: +0.324% → +0.026%: $29.8
Slippage, 4 orders: −$100.76
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$83.3
Costs to cover: 1.228%
Break-even: 67.4 days

Slippage from KuCoin: live order book, 7 min ago; ApeX Omni: live order book, 3 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 KuCoin live order book, 7 min ago	4.53 bp	54.3 bp −$54	103.4 bp −$1,034	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 3 min ago	6.47 bp	15.3 bp −$15	104.5 bp −$1,045	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	7.7393	+0.185%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0044%	4h	7.7010	−0.311%	$2.3M	$5.4M	50x	as long as short
KuCoin ZENUSDTMlong	+0.0054%	8h	7.7250	long leg	$4.1M	$4.1M	50x
Hyperliquid ZEN	+0.0100%	1h	7.7319	+0.089%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7259	+0.011%	$43K	$393K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7136	−0.147%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6990	−0.337%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.7200	−0.065%	$11.9M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.7220	−0.039%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7170	−0.104%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7176	−0.095%	$55K	$83K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7268	+0.024%	$575K	$2.6M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7500	+0.324%	$27K	$674K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7240	−0.013%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7221	−0.037%	$22K	$129K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7300	+0.065%	$832K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2844%	1h	7.7512	+0.340%	$495K	$1.0M	25x	as long as short