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: ApeX Omni against MEXC−0.168%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

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

Long on MEXC Short on ApeX Omni

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)+0.809%+$81 · spread now −0.168%, 7d avg +0.028%

Together, before fees+0.800%+$80 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.196% cheaper against MEXC than usual: you would sell low and buy high (spread −0.168% now, against its 7-day average of +0.028%). If the spread goes back, that is −$20 on $10k: about 9.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEN_USDT	7.7190	0.0031	pay 0.0031% / 8h	3h 30m	$12.3M	$6.6M	200x
Short	ApeX Omni ZENUSDT	7.7060	0.0100	get 0.0013% / 1h	30m 58s	$27K	$684K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.168%Rate

Funding earned: $14.49
Price spread: −0.168% → +0.028%: −$19.61
Slippage, 4 orders: −$27.61
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$46.73
Costs to cover: 0.416%
Break-even: 29.6 days

Slippage from MEXC: live order book, 3 min ago; ApeX Omni: live order book, 18 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 MEXC live order book, 3 min ago	0.65 bp	6.5 bp −$7	19.8 bp −$198	72.9 bp −$7,292	doesn't fit
Sell ApeX Omni live order book, 18 min ago	6.55 bp	13.8 bp −$14	104.8 bp −$1,048	doesn't fit	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	−0.277%	$51K	$250K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0042%	4h	7.7180	−0.013%	$2.3M	$7.3M	50x	as long as short
dYdX ZEN-USD	0.0000%	1h	7.7219	+0.038%	$9K	—	5x	as long as short
MEXC ZEN_USDTlong	+0.0031%	8h	7.7190	long leg	$12.3M	$6.6M	200x
Binance ZENUSDT	+0.0032%	8h	7.7230	+0.052%	$10.9M	$35.2M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.7203	+0.016%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0042%	8h	7.7210	+0.026%	$4.4M	$5.5M	50x	as long as short
Bitget ZENUSDT	+0.0045%	8h	7.7180	−0.013%	$2.8M	$4.0M	50x	as long as short
Aster ZENUSDT	+0.0074%	8h	7.7192	+0.002%	$40K	$316K	10x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7160	−0.039%	$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	7.7150	−0.052%	—	$3.5M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7170	−0.026%	$579K	$1.5M	10x	as long as short
ApeX Omni ZENUSDTshort	+0.0100%	1h	7.7060	−0.168%	$27K	$684K	50x
SunX ZEN-USDT	+0.0100%	8h	7.7150	−0.052%	$1K	$1.5M	20x	as long as short
BloFin ZEN-USDT	+0.0127%	8h	7.7150	−0.052%	$828K	$2.1M	75x	as long as short
Hyperliquid ZEN	+0.0240%	1h	7.7431	+0.312%	$2.5M	$2.5M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1341%	1h	7.7332	+0.183%	$491K	$1.2M	25x	as long as short