Funding arb · Price arb /

ZEN

all ZEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.048%

Price spread now: MEXC against OKX+0.091%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days−0.117%−$12 · spread now +0.091%, 7d avg +0.038%

Together, before fees−0.043%−$4 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 0.052% dearer against OKX than usual: you sell high and buy low, +$5 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	OKX ZEN-USDT-SWAP	7.7280	0.0100	pay 0.0050% / 4h	2h 01m	$2.3M	$5.4M	50x
Short	MEXC ZEN_USDT	7.7350	0.0100	get 0.0100% / 8h	2h 01m	$12.0M	$5.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now +0.091%Rate

Funding earned: $0
Price spread: +0.091% → +0.038%: $5.23
Slippage, 4 orders: −$39.89
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$48.66
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; 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 OKX live order book, 1 min ago	1.94 bp	19.9 bp −$20	136.2 bp −$1,362	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.29 bp	8.7 bp −$9	31.4 bp −$314	93.5 bp −$9,346	161.4 bp −$80.7K

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	7.7390	+0.143%	$9K	—	5x	as long as short
KuCoin ZENUSDTM	+0.0088%	8h	7.7380	+0.129%	$4.1M	$4.1M	50x	as long as short
Hyperliquid ZEN	+0.0100%	1h	7.7468	+0.243%	$2.4M	$1.3M	5x	as long as short
Aster ZENUSDT	+0.0100%	8h	7.7353	+0.095%	$43K	$392K	10x	as long as short
Binance ZENUSDT	+0.0100%	8h	7.7314	+0.044%	$11.2M	$30.2M	75x	as long as short
Bybit ZENUSDT	+0.0100%	8h	7.7290	+0.013%	$4.5M	$5.7M	75x	as long as short
OKX ZEN-USDT-SWAPlong	+0.0100%	4h	7.7280	long leg	$2.3M	$5.4M	50x
MEXC ZEN_USDTshort	+0.0100%	8h	7.7350	+0.091%	$12.0M	$5.0M	200x
Bitget ZENUSDT	+0.0100%	8h	7.7380	+0.129%	$2.9M	$3.1M	50x	as long as short
BingX ZEN-USDT	+0.0100%	8h	7.7360	+0.104%	—	$3.1M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEN	+0.0100%	8h	7.7391	+0.144%	$55K	$88K	—	as long as short
GRVT ZEN_USDT_Perp	+0.0100%	8h	7.7336	+0.072%	$584K	$2.5M	10x	as long as short
ApeX Omni ZENUSDT	+0.0100%	1h	7.7410	+0.168%	$27K	$676K	50x	as long as short
SunX ZEN-USDT	+0.0100%	8h	7.7460	+0.233%	$2K	$1.3M	20x	as long as short
Extended ZEN-USD	+0.0104%	1h	7.7393	+0.146%	$22K	$134K	5x	as long as short
BloFin ZEN-USDT	+0.0220%	8h	7.7420	+0.181%	$839K	$1.6M	75x	as long as short
Kraken Futures PF_ZENUSD	+0.3055%	1h	7.7644	+0.471%	$496K	$1.0M	25x	as long as short