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 +0.024%

Price spread now: MEXC against Bybit+0.053%7-day average +0.073% · 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−$89as in the Price arb table

costs, in and out, $10k−$870.865% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.053%, 7d avg +0.073%

Together, before fees−0.006%−$1 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 0.021% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZENUSDT	7.6060	0.0100	pay 0.0100% / 8h	5h 48m	$4.5M	$4.8M	75x
Short	MEXC ZEN_USDT	7.6100	0.0100	get 0.0100% / 8h	5h 48m	$11.9M	$4.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.073%: −$2.07
Slippage, 4 orders: −$71.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$88.59
Costs to cover: 0.865%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 3 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 Bybit live order book, 2 min ago	2.63 bp	36.6 bp −$37	150.9 bp −$1,509	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.63 bp	7.5 bp −$7	16.1 bp −$161	86.5 bp −$8,654	212.2 bp −$106.1K

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
ApeX Omni ZENUSDT	−0.0304%	1h	7.6220	+0.210%	$26K	$665K	50x	as long as short
KuCoin ZENUSDTM	−0.0017%	8h	7.6090	+0.039%	$4.1M	$3.5M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.6160	+0.132%	$9K	—	5x	as long as short
OKX ZEN-USDT-SWAP	+0.0058%	4h	7.6070	+0.013%	$2.2M	$4.8M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.6219	+0.209%	$2.4M	$1.0M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6193	+0.175%	$36K	$384K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6081	+0.028%	$10.9M	$28.0M	75x	as long as short
Bybit ZENUSDTlong	+0.0100%	8h	7.6060	long leg	$4.5M	$4.8M	75x
MEXC ZEN_USDTshort	+0.0100%	8h	7.6100	+0.053%	$11.9M	$4.8M	200x
Bitget ZENUSDT	+0.0100%	8h	7.6060	0.000%	$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	7.6090	+0.039%	—	$2.8M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6046	−0.019%	$50K	$55K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6349	+0.380%	$571K	$3.2M	10x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6220	+0.210%	$2K	$1.2M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6065	+0.006%	$22K	$236K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6170	+0.145%	$831K	$1.5M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.1153%	1h	7.6321	+0.343%	$490K	$604K	25x	as long as short