Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.018%

Price spread now: ApeX Omni against SunX−0.311%73s7-day average +0.017% · you buy dearer than you sell

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

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)+0.474%+$47 · spread now −0.311%, 7d avg +0.017%

Together, before fees+0.401%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and ApeX Omni is 0.328% cheaper against SunX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.017%). Swap the legs. The two prices were read 73 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	SunX ZEN-USDT	7.7290	0.0100	pay 0.0100% / 8h	1h 03m	$2K	$1.4M	20x
Short	ApeX Omni ZENUSDT	7.7050	0.0087	get 0.0011% / 1h	3m 45s	$27K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.311%Rate

Funding earned: −$2.77
Price spread: −0.311% → +0.017%: −$32.78
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$53.55
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; ApeX Omni: live order book, 15 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 SunX live order book, 10 min ago	500.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 15 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
OKX ZEN-USDT-SWAP	−0.0056%	4h	7.7190	−0.129%	$2.3M	$5.8M	50x	as long as short
Variational Omni ZEN	−0.0050%	8h	7.7045	−0.318%	$51K	$85K	—	as long as short
KuCoin ZENUSDTM	−0.0016%	8h	7.7270	−0.026%	$4.3M	$5.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7290	−0.001%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0020%	8h	7.7300	+0.013%	$12.3M	$5.6M	200x	as long as short
Binance ZENUSDT	+0.0023%	8h	7.7270	−0.026%	$11.2M	$31.6M	75x	as long as short
Extended ZEN-USD	+0.0024%	1h	7.7254	−0.047%	$25K	$110K	5x	as long as short
Bitget ZENUSDT	+0.0067%	8h	7.7220	−0.091%	$2.8M	$3.5M	50x	as long as short
BloFin ZEN-USDT	+0.0073%	8h	7.7170	−0.155%	$838K	$1.8M	75x	as long as short
Bybit ZENUSDT	+0.0076%	8h	7.7190	−0.129%	$4.7M	$6.4M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0082%	8h	7.7280	−0.013%	—	$3.4M	—	as long as short
ApeX Omni ZENUSDTshort	+0.0087%	1h	7.7050	−0.311%	$27K	$682K	50x
Aster ZENUSDT	+0.0093%	8h	7.7254	−0.047%	$53K	$380K	10x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7513	+0.289%	$2.4M	$1.8M	5x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7122	−0.217%	$575K	$1.6M	10x	as long as short
SunX ZEN-USDTlong	+0.0100%	8h	7.7290	long leg	$2K	$1.4M	20x
Kraken Futures PF_ZENUSD	+0.1877%	1h	7.7594	+0.393%	$508K	$1.1M	25x	as long as short