Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0157%/8h= +17.1% APRpaid last 24h +0.004%

Price spread now: Aster against ApeX Omni−0.129%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$790.786% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.254%−$25 · spread now −0.129%, 7d avg −0.010%

Together, before fees−0.228%+ Points / potential airdropAster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.119% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.129% now, against its 7-day average of −0.010%). If the spread goes back, that is −$12 on $10k: about 2.5 days of funding at the current rate (+$5 a day). At the pace of the last 6 days (+0.026% in total) that is about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6770	−0.0057	get 0.0007% / 1h	19m 33s	$27K	$665K	50x
Short	Aster ZENUSDT	7.6671	0.0100	get 0.0100% / 8h	6h 19m	$36K	$390K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.129%Rate

Funding earned: $32.88
Price spread: −0.129% → −0.010%: −$11.93
Slippage, 4 orders: −$60.63
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$57.68
Costs to cover: 0.786%
Break-even: 19.3 days

Slippage from ApeX Omni: live order book, 31 min ago; Aster: live order book, 30 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 ApeX Omni live order book, 31 min ago	6.56 bp	14.5 bp −$14	96.6 bp −$966	doesn't fit	doesn't fit
Sell Aster live order book, 30 min ago	8.52 bp	26.0 bp −$26	doesn't fit	doesn't fit	doesn't fit

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
ApeX Omni ZENUSDTlong	−0.0057%	1h	7.6770	long leg	$27K	$665K	50x
dYdX ZEN-USD	0.0000%	1h	7.6734	−0.047%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0020%	8h	7.6670	−0.130%	$4.2M	$3.5M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6775	+0.007%	$2.4M	$1.1M	5x	as long as short
Aster ZENUSDTshort	+0.0100%	8h	7.6671	−0.129%	$36K	$390K	10x
Binance ZENUSDT	+0.0100%	8h	7.6591	−0.233%	$11.0M	$28.6M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6570	−0.261%	$4.5M	$5.0M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6570	−0.261%	$2.2M	$5.0M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6610	−0.208%	$12.0M	$4.9M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6620	−0.195%	$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	7.6610	−0.208%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6614	−0.203%	$50K	$55K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6850	+0.104%	$575K	$3.1M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6770	0.000%	$1K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6566	−0.266%	$24K	$239K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6660	−0.143%	$824K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1469%	1h	7.6746	−0.032%	$493K	$629K	25x	as long as short