Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0073%/8h= −7.9% APRpaid last 24h −0.030%

Price spread now: ApeX Omni against BloFin0.000%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.531% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.237%−$24 · spread now 0.000%, 7d avg +0.043%

Together, before fees−0.469%−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.043% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEN-USDT	7.7850	0.0173	pay 0.0173% / 8h	44m 49s	$842K	$1.8M	75x
Short	ApeX Omni ZENUSDT	7.7850	0.0100	get 0.0013% / 1h	44m 49s	$27K	$683K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: −$15.24
Price spread: 0.000% → +0.043%: −$4.3
Slippage, 4 orders: −$31.15
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$72.68
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 34 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 BloFin live order book, 3 min ago	3.21 bp	14.7 bp −$15	33.8 bp −$338	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 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
Variational Omni ZEN	−0.0031%	8h	7.7815	−0.045%	$52K	$85K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0006%	4h	7.7790	−0.077%	$2.3M	$5.9M	50x	as long as short
KuCoin ZENUSDTM	−0.0004%	8h	7.7860	+0.013%	$4.3M	$4.9M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7900	+0.064%	$9K	—	5x	as long as short
MEXC ZEN_USDT	+0.0050%	8h	7.7840	−0.013%	$12.5M	$5.4M	200x	as long as short
Binance ZENUSDT	+0.0053%	8h	7.7910	+0.077%	$11.3M	$31.6M	75x	as long as short
Extended ZEN-USD	+0.0056%	1h	7.7865	+0.019%	$26K	$118K	5x	as long as short
Bybit ZENUSDT	+0.0074%	8h	7.7820	−0.039%	$4.7M	$6.3M	75x	as long as short
BingX ZEN-USDT	+0.0089%	8h	7.7830	−0.026%	—	$3.4M	—	as long as short
Bitget ZENUSDT	+0.0093%	8h	7.7810	−0.051%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0100%	8h	7.7917	+0.086%	$53K	$375K	10x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.8020	+0.218%	$582K	$1.7M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7850	0.000%	$27K	$683K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7890	+0.051%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDTlong	+0.0173%	8h	7.7850	long leg	$842K	$1.8M	75x
Hyperliquid ZEN	+0.0344%	1h	7.8101	+0.322%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2639%	1h	7.8107	+0.330%	$511K	$1.1M	25x	as long as short