Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.001%

Price spread now: Extended against MEXC−0.013%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.013%, 7d avg −0.050%

Together, before fees+0.080%+ Points / potential airdropExtended: Active · farm board+$8 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: Extended is 0.037% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEN_USDT	7.6450	0.0021	pay 0.0021% / 8h	2h 32m	$12.0M	$6.1M	200x
Short	Extended ZEN-USD	7.6440	0.0024	get 0.0003% / 1h	32m 00s	$25K	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0.63
Price spread: −0.013% → −0.050%: $3.75
Slippage, 4 orders: −$46.03
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$50.65
Costs to cover: 0.550%
Break-even: 569.8 days

Slippage from MEXC: live order book, 1 min ago; Extended: live order book, 53 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, 1 min ago	0.65 bp	7.3 bp −$7	21.0 bp −$210	89.1 bp −$8,906	195.7 bp −$97.8K
Sell Extended live order book, 53 min ago	2.80 bp	20.6 bp −$21	150.7 bp −$1,507	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
Variational Omni ZEN	−0.0131%	8h	7.6562	+0.147%	$51K	$219K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0051%	4h	7.6410	−0.052%	$2.3M	$6.0M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6531	+0.106%	$9K	—	5x	as long as short
Binance ZENUSDT	+0.0021%	8h	7.6452	+0.003%	$11.0M	$32.7M	75x	as long as short
MEXC ZEN_USDTlong	+0.0021%	8h	7.6450	long leg	$12.0M	$6.1M	200x
Extended ZEN-USDshort	+0.0024%	1h	7.6440	−0.013%	$25K	$110K	5x
KuCoin ZENUSDTM	+0.0024%	8h	7.6460	+0.013%	$4.3M	$5.2M	50x	as long as short
Bitget ZENUSDT	+0.0036%	8h	7.6390	−0.078%	$2.8M	$3.5M	50x	as long as short
Aster ZENUSDT	+0.0069%	8h	7.6419	−0.040%	$54K	$381K	10x	as long as short
BloFin ZEN-USDT	+0.0085%	8h	7.6430	−0.026%	$834K	$1.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZEN	+0.0100%	1h	7.6571	+0.158%	$2.4M	$1.9M	5x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6410	−0.052%	$4.6M	$7.1M	75x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6450	0.000%	—	$3.4M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6497	+0.061%	$582K	$1.6M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6670	+0.288%	$27K	$682K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6530	+0.105%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_ZENUSD	+0.1136%	1h	7.6583	+0.174%	$493K	$1.1M	25x	as long as short