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 Bitget−0.130%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.138%+$14 · spread now −0.130%, 7d avg +0.031%

Together, before fees+0.084%+$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: MEXC is 0.161% cheaper against Bitget than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZENUSDT	7.7050	0.0100	pay 0.0100% / 8h	6h 44m	$2.9M	$3.5M	50x
Short	MEXC ZEN_USDT	7.6950	0.0100	get 0.0100% / 8h	6h 44m	$12.2M	$5.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → +0.031%: −$16.09
Slippage, 4 orders: −$39.85
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$71.94
Costs to cover: 0.559%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; MEXC: live order book, 9 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 Bitget live order book, 3 min ago	3.24 bp	16.9 bp −$17	42.6 bp −$426	doesn't fit	doesn't fit
Sell MEXC live order book, 9 min ago	1.94 bp	10.2 bp −$10	57.7 bp −$577	102.1 bp −$10.2K	203.5 bp −$101.8K

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
ApeX Omni ZENUSDT	−0.0119%	1h	7.7140	+0.117%	$26K	$687K	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6958	−0.119%	$9K	—	5x	as long as short
Variational Omni ZEN	+0.0053%	8h	7.6978	−0.093%	$51K	$85K	—	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6867	−0.238%	$55K	$383K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7052	+0.002%	$11.2M	$31.5M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6970	−0.104%	$4.6M	$6.1M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7000	−0.065%	$2.3M	$5.7M	50x	as long as short
MEXC ZEN_USDTshort	+0.0100%	8h	7.6950	−0.130%	$12.2M	$5.3M	200x
KuCoin ZENUSDTM	+0.0100%	8h	7.7020	−0.039%	$4.4M	$4.7M	50x	as long as short
Bitget ZENUSDTlong	+0.0100%	8h	7.7050	long leg	$2.9M	$3.5M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7030	−0.026%	—	$3.3M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7440	+0.506%	$589K	$1.8M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7000	−0.065%	$1K	$1.4M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7034	−0.021%	$28K	$122K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7330	+0.363%	$864K	$1.7M	75x	as long as short
Hyperliquid ZEN	+0.0465%	1h	7.7142	+0.119%	$2.4M	$1.7M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3209%	1h	7.7342	+0.379%	$506K	$1.0M	25x	as long as short