Funding arb · Price arb /

ZEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.016%

Price spread now: dYdX against MEXC+0.142%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.142% dearer against MEXC than usual: you sell high and buy low (spread +0.142% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEN_USDT	7.7110	0.0031	pay 0.0031% / 8h	3h 32m	$12.3M	$6.5M	200x
Short	dYdX ZEN-USD	7.7219	0	get 0.0000% / 1h	32m 19s	$9K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$6.51
Price spread: +0.142% → 0.000%: $14.17
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$6.34
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 1 min ago; dYdX: no order-book sample. 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 MEXC live order book, 1 min ago	0.65 bp	6.5 bp −$7	19.8 bp −$198	72.9 bp −$7,292	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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
Variational Omni ZEN	−0.0202%	8h	7.6976	−0.174%	$51K	$250K	—	as long as short
OKX ZEN-USDT-SWAP	−0.0045%	4h	7.7060	−0.065%	$2.3M	$7.3M	50x	as long as short
dYdX ZEN-USDshort	0.0000%	1h	7.7219	+0.142%	$9K	—	5x
MEXC ZEN_USDTlong	+0.0031%	8h	7.7110	long leg	$12.3M	$6.5M	200x
Binance ZENUSDT	+0.0032%	8h	7.7092	−0.023%	$10.9M	$35.3M	75x	as long as short
Extended ZEN-USD	+0.0032%	1h	7.7118	+0.011%	$25K	$110K	5x	as long as short
KuCoin ZENUSDTM	+0.0040%	8h	7.7160	+0.065%	$4.4M	$5.5M	50x	as long as short
Bitget ZENUSDT	+0.0046%	8h	7.7110	0.000%	$2.8M	$4.0M	50x	as long as short
Aster ZENUSDT	+0.0073%	8h	7.7137	+0.036%	$40K	$316K	10x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7090	−0.026%	$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	+0.039%	—	$3.5M	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.6897	−0.276%	$577K	$1.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7100	−0.013%	$27K	$685K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7080	−0.039%	$1K	$1.5M	20x	as long as short
BloFin ZEN-USDT	+0.0125%	8h	7.7110	0.000%	$830K	$2.1M	75x	as long as short
Hyperliquid ZEN	+0.0232%	1h	7.7339	+0.297%	$2.5M	$2.5M	5x	as long as short
Kraken Futures PF_ZENUSD	+0.1341%	1h	7.7309	+0.258%	$491K	$1.2M	25x	as long as short