Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: MEXC against KuCoin+0.026%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 7 days−0.159%−$16 · spread now +0.026%, 7d avg −0.038%

Together, before fees−0.054%−$5 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 0.064% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZENUSDTM	7.6250	0.0100	pay 0.0100% / 8h	5h 02m	$4.1M	$4.5M	50x
Short	MEXC ZEN_USDT	7.6270	0.0100	get 0.0100% / 8h	5h 02m	$11.9M	$5.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → −0.038%: $6.44
Slippage, 4 orders: −$84.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$93.79
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from KuCoin: live order book, just now; 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 KuCoin live order book, just now	3.94 bp	53.2 bp −$53	135.5 bp −$1,355	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.97 bp	7.1 bp −$7	29.7 bp −$297	93.7 bp −$9,369	192.8 bp −$96.4K

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	7.6300	+0.065%	$9K	—	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.6315	+0.086%	$53K	$375K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.6270	+0.026%	$11.1M	$29.9M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.6220	−0.039%	$4.5M	$5.8M	75x	as long as short
OKX ZEN-USDT-SWAP	+0.0100%	4h	7.6220	−0.039%	$2.3M	$5.4M	50x	as long as short
MEXC ZEN_USDTshort	+0.0100%	8h	7.6270	+0.026%	$11.9M	$5.0M	200x
KuCoin ZENUSDTMlong	+0.0100%	8h	7.6250	long leg	$4.1M	$4.5M	50x
Bitget ZENUSDT	+0.0100%	8h	7.6250	0.000%	$2.8M	$3.2M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.6330	+0.105%	—	$3.2M	—	as long as short
Variational Omni ZEN	+0.0100%	8h	7.6275	+0.033%	$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	7.6383	+0.175%	$572K	$1.9M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.6300	+0.066%	$26K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.6270	+0.026%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.6241	−0.012%	$25K	$121K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.6360	+0.144%	$847K	$1.6M	75x	as long as short
Hyperliquid ZEN	+0.0356%	1h	7.6432	+0.239%	$2.5M	$1.3M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.3210%	1h	7.6526	+0.362%	$501K	$1.0M	25x	as long as short