Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0816%/8h= +89.4% APRpaid last 24h +0.119%

Price spread now: Injective against Binance+8.063%57s7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Injective is 8.063% dearer against Binance than usual: you sell high and buy low: +$806 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZETAUSDT	0.05978	−0.0783	get 0.0391% / 4h	1h 10m	$8.5M	$306.8M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	10m 26s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +8.063%Rate

Funding earned: $171.39
Price spread: +8.063% → 0.000%: $806.29
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $967.66
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 3 min ago; Injective: 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 Binance live order book, 3 min ago	2.50 bp	15.7 bp −$16	56.1 bp −$561	482.2 bp −$48.2K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

ZETA on 13 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
Gate ZETA_USDT	−0.1236%	4h	0.05980	+0.033%	$625K	$9.5M	25x	as long as short
Binance ZETAUSDTlong	−0.0783%	4h	0.05978	long leg	$8.5M	$306.8M	50x
MEXC ZETA_USDT	−0.0762%	4h	0.05977	−0.017%	$1.5M	$11.6M	50x	as long as short
BloFin ZETA-USDT	−0.0753%	4h	0.05968	−0.167%	$414K	$1.0M	50x	as long as short
BingX ZETA-USDT	−0.0698%	4h	0.05971	−0.117%	—	$6.8M	—	as long as short
OKX ZETA-USDT-SWAP	−0.0660%	4h	0.05975	−0.050%	$1.1M	$46.3M	20x	as long as short
KuCoin ZETAUSDTM	−0.0640%	4h	0.05974	−0.067%	$1.1M	$5.1M	20x	as long as short
Variational Omni ZETA	−0.0422%	4h	0.05988	+0.171%	$141K	$708K	—	as long as short
Kraken Futures PF_ZETAUSD	−0.0267%	1h	0.05981	+0.047%	$66K	$634K	10x	as long as short
Hyperliquid ZETA	−0.0227%	1h	0.05976	−0.033%	$1.7M	$3.8M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.0195%	4h	0.05963	−0.251%	$5.3M	$79.0M	25x	as long as short
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+8.063%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05983	+0.084%	$2.2M	$58.2M	50x	as long as short