Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h +0.067%

Price spread now: MEXC against OKX+0.103%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.082%−$8 · spread now +0.103%, 7d avg +0.035%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.067% dearer against OKX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEN-USDT-SWAP	7.7870	0.0002	pay 0.0001% / 4h	40m 30s	$2.3M	$5.9M	50x
Short	MEXC ZEN_USDT	7.7950	0.0053	get 0.0053% / 8h	40m 30s	$12.5M	$5.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now +0.103%Rate

Funding earned: $10.61
Price spread: +0.103% → +0.035%: $6.73
Slippage, 4 orders: −$37.18
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$33.85
Costs to cover: 0.512%
Break-even: 29.3 days

Slippage from OKX: 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 OKX live order book, 2 min ago	1.93 bp	18.7 bp −$19	164.9 bp −$1,649	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.28 bp	8.0 bp −$8	20.9 bp −$209	82.0 bp −$8,199	177.6 bp −$88.8K

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
Variational Omni ZEN	−0.0031%	8h	7.7815	−0.070%	$52K	$85K	—	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7911	+0.052%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	0.0000%	8h	7.7940	+0.090%	$4.4M	$4.9M	50x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0002%	4h	7.7870	long leg	$2.3M	$5.9M	50x
MEXC ZEN_USDTshort	+0.0053%	8h	7.7950	+0.103%	$12.5M	$5.4M	200x
Binance ZENUSDT	+0.0055%	8h	7.7945	+0.096%	$11.3M	$31.5M	75x	as long as short
Extended ZEN-USD	+0.0056%	1h	7.7946	+0.098%	$26K	$118K	5x	as long as short
Bybit ZENUSDT	+0.0070%	8h	7.7850	−0.026%	$4.7M	$6.3M	75x	as long as short
BingX ZEN-USDT	+0.0094%	8h	7.7870	0.000%	—	$3.4M	—	as long as short
Bitget ZENUSDT	+0.0099%	8h	7.7920	+0.064%	$2.9M	$3.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZENUSDT	+0.0100%	8h	7.7961	+0.117%	$53K	$375K	10x	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7910	+0.051%	$591K	$1.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7910	+0.051%	$27K	$683K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7910	+0.051%	$1K	$1.4M	20x	as long as short
BloFin ZEN-USDT	+0.0174%	8h	7.7810	−0.077%	$846K	$1.8M	75x	as long as short
Hyperliquid ZEN	+0.0422%	1h	7.8125	+0.327%	$2.5M	$1.8M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2635%	1h	7.8221	+0.451%	$512K	$1.0M	25x	as long as short