Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.034%

Price spread now: Variational Omni against dYdX−0.111%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.111% cheaper against dYdX than usual: you would sell low and buy high (spread −0.111% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.6940	0	get 0.0000% / 1h	11m 05s	$9K	—	5x
Short	Variational Omni ZEN	7.6855	0.0100	get 0.0100% / 8h	5h 11m	$51K	$83K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.111%Rate

Funding earned: $21
Price spread: −0.111% → 0.000%: −$11.1
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$0.1
Costs to cover: 0.100%
Break-even: 7.0 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: no order-book sample. 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

dYdX and Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDlong	0.0000%	1h	7.6940	long leg	$9K	—	5x
OKX ZEN-USDT-SWAP	+0.0098%	4h	7.7010	+0.090%	$2.3M	$5.4M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6960	+0.025%	$53K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7011	+0.091%	$11.2M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6940	0.000%	$4.6M	$5.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6980	+0.051%	$12.0M	$5.0M	200x	as long as short
KuCoin ZENUSDTM	+0.0100%	8h	7.6960	+0.025%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6930	−0.013%	$2.9M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6990	+0.064%	—	$3.2M	—	as long as short
Variational Omni ZENshort	+0.0100%	8h	7.6855	−0.111%	$51K	$83K	—

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	7.6952	+0.015%	$574K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7010	+0.090%	$26K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6960	+0.025%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6923	−0.022%	$25K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6980	+0.051%	$847K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0356%	1h	7.7214	+0.356%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3179%	1h	7.7280	+0.442%	$506K	$1.0M	25x	as long as short