Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.018%

Price spread now: MEXC against dYdX−0.081%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. MEXC is 0.081% cheaper against dYdX than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEN-USD	7.7182	0	get 0.0000% / 1h	35m 59s	$9K	—	5x
Short	MEXC ZEN_USDT	7.7120	0.0100	get 0.0100% / 8h	35m 59s	$12.2M	$5.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now −0.081%Rate

Funding earned: $21
Price spread: −0.081% → 0.000%: −$8.07
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1.07
Costs to cover: 0.140%
Break-even: 7.4 days

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 2 min ago. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	1.95 bp	7.7 bp −$8	26.0 bp −$260	92.1 bp −$9,206	179.1 bp −$89.5K

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX ZEN-USDlong	0.0000%	1h	7.7182	long leg	$9K	—	5x
KuCoin ZENUSDTM	+0.0014%	8h	7.7110	−0.094%	$4.1M	$3.9M	50x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7165	−0.023%	$43K	$389K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7103	−0.102%	$11.1M	$29.5M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7060	−0.158%	$4.5M	$5.5M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.7080	−0.133%	$2.3M	$5.3M	50x	as long as short
MEXC ZEN_USDTshort	+0.0100%	8h	7.7120	−0.081%	$12.2M	$5.0M	200x
Bitget ZENUSDT	+0.0100%	8h	7.7140	−0.055%	$2.9M	$3.0M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7100	−0.107%	—	$2.9M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.7490	+0.399%	$55K	$69K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7348	+0.215%	$581K	$2.7M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7580	+0.515%	$27K	$671K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7160	−0.029%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7097	−0.110%	$22K	$232K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7010	−0.223%	$828K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0231%	1h	7.7280	+0.127%	$2.4M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.2236%	1h	7.7223	+0.053%	$494K	$828K	25x	as long as short