Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: MEXC against GRVT−0.274%82s7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.541% of the position

Long on GRVT Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 7 days−1.358%−$136 · spread now −0.274%, 7d avg −0.080%

Together, before fees−1.417%+ Points / potential airdropGRVT: Active · farm board−$142 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.194% cheaper against GRVT than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.080%. The two prices were read 82 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	GRVT ZEN_USDT_Perp	7.6700	0.0100	pay 0.0100% / 8h	3h 08m	$576K	$2.3M	10x
Short	MEXC ZEN_USDT	7.6490	0.0100	get 0.0100% / 8h	3h 08m	$11.7M	$5.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GRVT. 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 GRVTbpFee MEXCbpOrdersPrice spread, now −0.274%Rate

Funding earned: $0
Price spread: −0.274% → −0.080%: −$19.37
Slippage, 4 orders: −$41.06
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$73.43
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; MEXC: live order book, 5 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 GRVT live order book, 5 min ago	1.96 bp	17.2 bp −$17	42.9 bp −$429	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.30 bp	8.2 bp −$8	20.7 bp −$207	80.7 bp −$8,065	165.6 bp −$82.8K

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	7.6556	−0.187%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0059%	8h	7.6480	−0.287%	$4.1M	$4.2M	50x	as long as short
OKX ZEN-USDT-SWAP	+0.0067%	4h	7.6470	−0.300%	$2.2M	$5.2M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6530	−0.222%	$44K	$385K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6483	−0.282%	$11.0M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6480	−0.287%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDTshort	+0.0100%	8h	7.6490	−0.274%	$11.7M	$5.0M	200x
Bitget ZENUSDT	+0.0100%	8h	7.6430	−0.352%	$2.8M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6420	−0.365%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6561	−0.181%	$55K	$89K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perplong	+0.0100%	8h	7.6700	long leg	$576K	$2.3M	10x
ApeX Omni ZENUSDT	+0.0100%	1h	7.6710	+0.013%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6520	−0.235%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6461	−0.311%	$25K	$135K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6410	−0.378%	$824K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0274%	1h	7.6629	−0.093%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2339%	1h	7.6687	−0.017%	$495K	$1.0M	25x	as long as short