Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.003%

Price spread now: MEXC against Extended+0.084%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.084%, 7d avg +0.049%

Together, before fees−0.189%+ Points / potential airdropExtended: Active · farm board−$19 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 0.035% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZEN-USD	7.6306	0.0104	pay 0.0013% / 1h	5m 25s	$25K	$121K	5x
Short	MEXC ZEN_USDT	7.6370	0.0100	get 0.0100% / 8h	5h 05m	$11.9M	$5.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$0.84
Price spread: +0.084% → +0.049%: $3.46
Slippage, 4 orders: −$45.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$51.52
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from Extended: live order book, 55 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 Extended live order book, 55 min ago	2.64 bp	18.9 bp −$19	205.5 bp −$2,055	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.65 bp	9.0 bp −$9	27.8 bp −$278	96.3 bp −$9,628	166.0 bp −$83.0K

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-USD	0.0000%	1h	7.6340	+0.044%	$9K	—	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6379	+0.096%	$53K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6363	+0.075%	$11.1M	$29.8M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6310	+0.005%	$4.5M	$5.8M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6240	−0.086%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDTshort	+0.0100%	8h	7.6370	+0.084%	$11.9M	$5.0M	200x
KuCoin ZENUSDTM	+0.0100%	8h	7.6320	+0.018%	$4.1M	$4.5M	50x	as long as short
Bitget ZENUSDT	+0.0100%	8h	7.6260	−0.060%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6390	+0.110%	—	$3.2M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6275	−0.040%	$51K	$83K	—	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	7.6746	+0.576%	$573K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6760	+0.595%	$26K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6320	+0.018%	$1K	$1.3M	20x	as long as short
Extended ZEN-USDlong	+0.0104%	1h	7.6306	long leg	$25K	$121K	5x
BloFin ZEN-USDT	+0.0220%	8h	7.6490	+0.241%	$845K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0353%	1h	7.6523	+0.285%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3206%	1h	7.6621	+0.413%	$501K	$1.0M	25x	as long as short