Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h +0.004%

Price spread now: MEXC against ApeX Omni−0.078%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)−0.358%−$36 · spread now −0.078%, 7d avg −0.029%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.049% cheaper against ApeX Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.6940	0.0100	pay 0.0013% / 1h	25m 01s	$27K	$682K	50x
Short	MEXC ZEN_USDT	7.6880	0.0028	get 0.0028% / 8h	2h 25m	$12.1M	$6.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$15.12
Price spread: −0.078% → −0.029%: −$4.88
Slippage, 4 orders: −$27
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$61
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 63 min ago; MEXC: live order book, 3 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 ApeX Omni live order book, 63 min ago	5.20 bp	14.5 bp −$14	107.5 bp −$1,075	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.95 bp	6.5 bp −$6	18.2 bp −$182	98.6 bp −$9,859	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 ZEN	−0.0103%	8h	7.6982	+0.055%	$51K	$154K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0036%	4h	7.6860	−0.104%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7007	+0.087%	$9K	—	5x	as long as short
MEXC ZEN_USDTshort	+0.0028%	8h	7.6880	−0.078%	$12.1M	$6.1M	200x
Binance ZENUSDT	+0.0032%	8h	7.6900	−0.052%	$11.0M	$32.4M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.6901	−0.051%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0042%	8h	7.6980	+0.052%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0045%	8h	7.6840	−0.130%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0081%	8h	7.6969	+0.038%	$54K	$381K	10x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7063	+0.160%	$2.4M	$1.9M	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZENUSDT	+0.0100%	8h	7.6900	−0.052%	$4.6M	$6.9M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6970	+0.039%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6967	+0.035%	$586K	$1.6M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.6940	long leg	$27K	$682K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6940	0.000%	$2K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0128%	8h	7.6880	−0.078%	$834K	$1.9M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1128%	1h	7.7110	+0.221%	$496K	$1.1M	25x	as long as short