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 −0.024%

Price spread now: Bybit against MEXC+0.013%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$910.914% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.013%, 7d avg −0.072%

Together, before fees−0.070%−$7 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: Bybit is 0.085% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEN_USDT	7.6620	0.0100	pay 0.0100% / 8h	4h 02m	$11.6M	$5.1M	200x
Short	Bybit ZENUSDT	7.6630	0.0100	get 0.0100% / 8h	4h 02m	$4.5M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → −0.072%: $8.52
Slippage, 4 orders: −$76.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$82.92
Costs to cover: 0.914%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Bybit: 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 MEXC live order book, 6 min ago	1.31 bp	8.3 bp −$8	34.3 bp −$343	95.1 bp −$9,507	185.7 bp −$92.9K
Sell Bybit live order book, 5 min ago	0.65 bp	37.6 bp −$38	161.7 bp −$1,617	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
dYdX ZEN-USD	0.0000%	1h	7.6650	+0.040%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0064%	4h	7.6630	+0.013%	$2.2M	$5.4M	50x	as long as short
KuCoin ZENUSDTM	+0.0078%	8h	7.6670	+0.065%	$4.1M	$4.3M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6563	−0.074%	$51K	$377K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6624	+0.005%	$11.1M	$30.2M	75x	as long as short
Bybit ZENUSDTshort	+0.0100%	8h	7.6630	+0.013%	$4.5M	$5.9M	75x
MEXC ZEN_USDTlong	+0.0100%	8h	7.6620	long leg	$11.6M	$5.1M	200x
Bitget ZENUSDT	+0.0100%	8h	7.6660	+0.052%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6490	−0.170%	—	$3.1M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6292	−0.429%	$54K	$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_Perp	+0.0100%	8h	7.6360	−0.339%	$572K	$2.1M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6410	−0.274%	$26K	$681K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6670	+0.065%	$1K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6606	−0.018%	$22K	$144K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6610	−0.013%	$831K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0355%	1h	7.6860	+0.313%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3083%	1h	7.6877	+0.335%	$498K	$999K	25x	as long as short