Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: GRVT against MEXC+0.183%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$900.896% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.498%−$50 · spread now +0.183%, 7d avg +0.024%

Together, before fees−0.442%+ Points / potential airdropGRVT: Active · farm board−$44 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: GRVT is 0.158% dearer against MEXC than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.024%.

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	5h 57m	$12.1M	$4.7M	200x
Short	GRVT ZEN_USDT_Perp	7.6760	0.0100	get 0.0100% / 8h	5h 57m	$573K	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.183%Rate

Funding earned: $0
Price spread: +0.183% → +0.024%: $15.84
Slippage, 4 orders: −$76.58
Fee MEXC: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$73.74
Costs to cover: 0.896%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; GRVT: live order book, 4 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, 4 min ago	0.65 bp	7.7 bp −$8	16.8 bp −$168	90.2 bp −$9,021	183.3 bp −$91.7K
Sell GRVT live order book, 4 min ago	1.31 bp	53.1 bp −$53	82.3 bp −$823	doesn't fit	doesn't fit

ZEN on 17 exchanges

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	7.6657	+0.049%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0017%	8h	7.6630	+0.013%	$4.2M	$3.5M	50x	as long as short
ApeX Omni ZENUSDT	+0.0023%	1h	7.6680	+0.078%	$27K	$665K	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6764	+0.188%	$2.4M	$1.0M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6600	−0.026%	$37K	$384K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6600	−0.026%	$11.0M	$28.0M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6510	−0.144%	$4.5M	$4.9M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6610	−0.013%	$2.2M	$4.9M	50x	as long as short
MEXC ZEN_USDTlong	+0.0100%	8h	7.6620	long leg	$12.1M	$4.7M	200x
Bitget ZENUSDT	+0.0100%	8h	7.6630	+0.013%	$2.8M	$2.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.6620	0.000%	—	$2.8M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6477	−0.187%	$50K	$55K	—	as long as short
GRVT ZEN_USDT_Perpshort	+0.0100%	8h	7.6760	+0.183%	$573K	$3.2M	10x
SunX ZEN-USDT	+0.0100%	8h	7.6710	+0.117%	$2K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6567	−0.069%	$22K	$236K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6610	−0.013%	$831K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1146%	1h	7.6782	+0.211%	$493K	$604K	25x	as long as short