Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: ApeX Omni against Variational Omni+0.057%88s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.057% dearer against Variational Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 88 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	Variational Omni ZEN	7.6717	0.0100	pay 0.0100% / 8h	3h 27m	$55K	$89K	—
Short	ApeX Omni ZENUSDT	7.6760	0.0100	get 0.0013% / 1h	27m 58s	$27K	$682K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → 0.000%: $5.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$4.34
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; ApeX Omni: live order book, 25 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 Variational Omni no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 25 min ago	6.51 bp	14.3 bp −$14	113.7 bp −$1,137	doesn't fit	doesn't fit

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-USD	0.0000%	1h	7.6710	−0.009%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0056%	8h	7.6700	−0.022%	$4.1M	$4.3M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0075%	4h	7.6640	−0.100%	$2.2M	$5.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6714	−0.003%	$44K	$385K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6673	−0.057%	$11.0M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6680	−0.048%	$4.5M	$5.8M	75x	as long as short
MEXC ZEN_USDT	+0.0100%	8h	7.6690	−0.035%	$11.7M	$5.0M	200x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6720	+0.004%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6700	−0.022%	—	$3.1M	—	as long as short
Variational Omni ZENlong	+0.0100%	8h	7.6717	long leg	$55K	$89K	—

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	7.6672	−0.057%	$575K	$2.2M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.6760	+0.057%	$27K	$682K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6770	+0.070%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6655	−0.080%	$25K	$142K	5x	as long as short
Hyperliquid ZEN	+0.0191%	1h	7.6853	+0.178%	$2.5M	$1.3M	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6660	−0.074%	$830K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2332%	1h	7.6906	+0.247%	$496K	$1.0M	25x	as long as short