Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h +0.007%

Price spread now: Variational Omni against OKX−0.024%7-day average +0.002% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.484%+$48 · spread now −0.024%, 7d avg +0.002%

Together, before fees+0.451%+ Points / potential airdropVariational Omni: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.026% cheaper against OKX than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.002%). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.6410	−0.0108	get 0.0054% / 4h	2h 00m	$2.3M	$5.8M	50x
Short	Variational Omni ZEN	7.6392	−0.0071	pay 0.0071% / 8h	2h 00m	$51K	$151K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.024%Rate

Funding earned: $7.73
Price spread: −0.024% → +0.002%: −$2.58
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$4.85
Costs to cover: 0.100%
Break-even: 11.4 days

Slippage unknown: OKX: live order book, 2 min ago; Variational Omni: RFQ quote, 23 min ago. 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 OKX live order book, 2 min ago	1.31 bp	20.1 bp −$20	143.8 bp −$1,438	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 23 min ago	5.96 bp	doesn't fit	169.3 bp −$1,693	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
OKX ZEN-USDT-SWAPlong	−0.0108%	4h	7.6410	long leg	$2.3M	$5.8M	50x
Variational Omni ZENshort	−0.0071%	8h	7.6392	−0.024%	$51K	$151K	—
KuCoin ZENUSDTM	−0.0021%	8h	7.6480	+0.092%	$4.3M	$5.2M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6506	+0.126%	$9K	—	5x	as long as short
Extended ZEN-USD	+0.0008%	1h	7.6441	+0.041%	$25K	$110K	5x	as long as short
Binance ZENUSDT	+0.0010%	8h	7.6450	+0.052%	$11.0M	$32.2M	75x	as long as short
MEXC ZEN_USDT	+0.0010%	8h	7.6450	+0.052%	$12.1M	$6.1M	200x	as long as short
Bitget ZENUSDT	+0.0028%	8h	7.6410	0.000%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0041%	8h	7.6450	+0.052%	$838K	$1.9M	75x	as long as short
Aster ZENUSDT	+0.0070%	8h	7.6489	+0.103%	$53K	$380K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6629	+0.287%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6400	−0.013%	$4.6M	$6.8M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6400	−0.013%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6389	−0.028%	$581K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6440	+0.039%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6430	+0.026%	$1K	$1.4M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1135%	1h	7.6627	+0.284%	$493K	$1.1M	25x	as long as short