Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h +0.004%

Price spread now: MEXC against ApeX Omni+0.013%66s7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.416% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)−0.654%−$65 · spread now +0.013%, 7d avg −0.028%

Together, before fees−0.645%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.041% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.028%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZENUSDT	7.7100	0.0100	pay 0.0013% / 1h	32m 28s	$27K	$685K	50x
Short	MEXC ZEN_USDT	7.7110	0.0031	get 0.0031% / 8h	3h 32m	$12.3M	$6.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$14.49
Price spread: +0.013% → −0.028%: $4.06
Slippage, 4 orders: −$27.61
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$52.04
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 16 min ago; MEXC: live order book, 1 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 ApeX Omni live order book, 16 min ago	6.55 bp	14.0 bp −$14	109.2 bp −$1,092	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.65 bp	7.3 bp −$7	45.3 bp −$453	92.0 bp −$9,202	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	−0.0202%	8h	7.6976	−0.161%	$51K	$250K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0045%	4h	7.7070	−0.039%	$2.3M	$7.3M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7219	+0.155%	$9K	—	5x	as long as short
MEXC ZEN_USDTshort	+0.0031%	8h	7.7110	+0.013%	$12.3M	$6.5M	200x
Binance ZENUSDT	+0.0032%	8h	7.7095	−0.007%	$10.9M	$35.3M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.7154	+0.070%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0040%	8h	7.7160	+0.078%	$4.4M	$5.5M	50x	as long as short
Bitget ZENUSDT	+0.0046%	8h	7.7160	+0.078%	$2.8M	$4.0M	50x	as long as short
Aster ZENUSDT	+0.0073%	8h	7.7171	+0.092%	$40K	$316K	10x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7090	−0.013%	$4.6M	$8.7M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZEN-USDT	+0.0100%	8h	7.7140	+0.052%	—	$3.5M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6897	−0.263%	$577K	$1.5M	10x	as long as short
ApeX Omni ZENUSDTlong	+0.0100%	1h	7.7100	long leg	$27K	$685K	50x
SunX ZEN-USDT	+0.0100%	8h	7.6990	−0.143%	$1K	$1.5M	20x	as long as short
BloFin ZEN-USDT	+0.0125%	8h	7.7110	+0.013%	$830K	$2.1M	75x	as long as short
Hyperliquid ZEN	+0.0232%	1h	7.7339	+0.310%	$2.5M	$2.5M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1341%	1h	7.7315	+0.278%	$491K	$1.2M	25x	as long as short