Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h +0.057%

Price spread now: Extended against Variational Omni−0.176%7-day average +0.026% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.141%+$14 on $10k

Price spread, last 3 days (all we have)−0.382%−$38 · spread now −0.176%, 7d avg +0.026%

Together, before fees−0.241%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.203% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.176% now, against its 7-day average of +0.026%). If the spread goes back, that is −$20 on $10k: about 6.9 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	Variational Omni ZEN	7.7745	−0.0010	get 0.0010% / 8h	7h 55m	$52K	$85K	—
Short	Extended ZEN-USD	7.7608	0.0088	get 0.0011% / 1h	55m 54s	$25K	$113K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.176%Rate

Funding earned: $20.68
Price spread: −0.176% → +0.026%: −$20.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$4.58
Costs to cover: 0.050%
Break-even: 8.5 days

Slippage unknown: Variational Omni: RFQ quote, 83 min ago; Extended: live order book, 14 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 RFQ quote, 83 min ago	5.96 bp	doesn't fit	123.5 bp −$1,235	doesn't fit	doesn't fit
Sell Extended live order book, 14 min ago	3.36 bp	21.4 bp −$21	162.0 bp −$1,620	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 ZENlong	−0.0010%	8h	7.7745	long leg	$52K	$85K	—
dYdX ZEN-USD	0.0000%	1h	7.7819	+0.096%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0034%	4h	7.7460	−0.366%	$2.3M	$5.8M	50x	as long as short
KuCoin ZENUSDTM	+0.0058%	8h	7.7670	−0.096%	$4.4M	$4.9M	50x	as long as short
MEXC ZEN_USDT	+0.0087%	8h	7.7570	−0.224%	$12.5M	$5.3M	200x	as long as short
Extended ZEN-USDshort	+0.0088%	1h	7.7608	−0.176%	$25K	$113K	5x
Binance ZENUSDT	+0.0088%	8h	7.7578	−0.214%	$11.2M	$31.6M	75x	as long as short
Bybit ZENUSDT	+0.0093%	8h	7.7530	−0.276%	$4.6M	$6.2M	75x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7816	+0.092%	$2.4M	$1.8M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7659	−0.110%	$52K	$378K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZENUSDT	+0.0100%	8h	7.7610	−0.173%	$2.9M	$3.5M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7690	−0.070%	—	$3.3M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7779	+0.044%	$587K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7810	+0.084%	$27K	$686K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7530	−0.276%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0207%	8h	7.7750	+0.007%	$848K	$1.8M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.2982%	1h	7.7815	+0.090%	$509K	$1.0M	25x	as long as short