Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.022%

Price spread now: ApeX Omni against Bybit+0.603%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$1121.125% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now +0.603%, 7d avg +0.106%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.497% dearer against Bybit than usual: you sell high and buy low, +$50 on $10k if it goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6300	0.0100	pay 0.0100% / 8h	5h 05m	$4.5M	$5.8M	75x
Short	ApeX Omni ZENUSDT	7.6760	0.0100	get 0.0013% / 1h	5m 07s	$26K	$685K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.603%Rate

Funding earned: $0
Price spread: +0.603% → +0.106%: $49.65
Slippage, 4 orders: −$91.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$62.83
Costs to cover: 1.125%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 58 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 Bybit live order book, 3 min ago	4.57 bp	42.3 bp −$42	157.5 bp −$1,575	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	8.37 bp	16.5 bp −$17	110.1 bp −$1,101	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	7.6340	+0.052%	$9K	—	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6400	+0.132%	$53K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6401	+0.132%	$11.1M	$29.9M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6300	long leg	$4.5M	$5.8M	75x
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6360	+0.079%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6390	+0.118%	$11.9M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.6360	+0.079%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6340	+0.052%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6400	+0.131%	—	$3.2M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6275	−0.033%	$51K	$83K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6746	+0.584%	$573K	$1.9M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6760	+0.603%	$26K	$685K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6320	+0.026%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6306	+0.008%	$25K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6360	+0.079%	$843K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0354%	1h	7.6538	+0.312%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3206%	1h	7.6632	+0.436%	$501K	$1.0M	25x	as long as short