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: BingX against MEXC−0.052%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.531% of the position

Long on MEXC Short on BingX

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+0.047%+$5 · spread now −0.052%, 7d avg −0.025%

Together, before fees+0.106%+$11 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: BingX is 0.027% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEN_USDT	7.6430	0.0100	pay 0.0100% / 8h	2h 22m	$11.5M	$4.9M	200x
Short	BingX ZEN-USDT	7.6390	0.0100	get 0.0100% / 8h	2h 22m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.025%: −$2.7
Slippage, 4 orders: −$39.14
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$55.83
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; BingX: live order book, 12 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 MEXC live order book, 6 min ago	0.66 bp	8.0 bp −$8	35.0 bp −$350	96.6 bp −$9,656	doesn't fit
Sell BingX live order book, 12 min ago	4.60 bp	18.2 bp −$18	47.7 bp −$477	168.2 bp −$16.8K	434.2 bp −$217.1K

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	7.6403	−0.036%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0048%	4h	7.6600	+0.222%	$2.2M	$5.2M	50x	as long as short
KuCoin ZENUSDTM	+0.0069%	8h	7.6330	−0.131%	$4.1M	$4.1M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6467	+0.048%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6499	+0.091%	$43K	$389K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6550	+0.157%	$11.0M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6560	+0.170%	$4.5M	$5.7M	75x	as long as short
MEXC ZEN_USDTlong	+0.0100%	8h	7.6430	long leg	$11.5M	$4.9M	200x
Bitget ZENUSDT	+0.0100%	8h	7.6420	−0.013%	$2.8M	$3.1M	50x	as long as short
BingX ZEN-USDTshort	+0.0100%	8h	7.6390	−0.052%	—	$3.1M	—

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.5972	−0.599%	$54K	$89K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6280	−0.196%	$569K	$2.4M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6090	−0.445%	$26K	$677K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6320	−0.144%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6460	+0.039%	$22K	$134K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6330	−0.131%	$820K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3102%	1h	7.6457	+0.036%	$489K	$1.0M	25x	as long as short