Hi,
There isn't really a specific way to find an optimal message period for an ANT device with multiple channels open. However, the ANT protocol is designed in a way to prevent having channel collisions; therefore, you shouldn't see channel collision events generally with multi-channel ANT devices.
In your case, I would suggest setting the channel period to 1 Hz. Also, you can perform test scenarios of different channel periods using our software tool "ANTware II". You can find this tool in the "Downloads" section of the ANT website. ANTware II is used by ANT developers. Therefore, you can use this tool with an ANT device and open 8 slave channels. Then you can set different channel periods for each channel and accordingly check whether or not channel collision events are happening.
We are currently creating an application note about multi-channel ANT devices and design considerations. The note will be useful for ANT developers designing multi-channel devices.