Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1725%/8h= +188.9% APRpaid last 24h +0.222%

Price spread now: Injective against BingX+12.017%87s7-day average — · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 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 +$52 a day on $10k at the current rate, and Injective is 12.017% dearer against BingX than usual: you sell high and buy low: +$1,202 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 87 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 0.146% in total (about 7.6% 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	BingX ZETA-USDT	0.05767	−0.1692	get 0.0846% / 4h	3h 39m	—	$7.1M	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	39m 55s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee InjectivebpOrdersPrice spread, now +12.017%Rate

Funding earned: $362.32
Price spread: +12.017% → 0.000%: $1,201.66
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,553.96
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 8 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 BingX live order book, 8 min ago	4.39 bp	22.7 bp −$23	53.9 bp −$539	432.0 bp −$43.2K	785.3 bp −$392.6K
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
Kraken Futures PF_ZETAUSD	−0.2819%	1h	0.05777	+0.175%	$49K	$701K	10x	as long as short
BloFin ZETA-USDT	−0.1832%	4h	0.05744	−0.399%	$356K	$1.1M	50x	as long as short
Binance ZETAUSDT	−0.1815%	4h	0.05767	−0.004%	$7.8M	$324.7M	50x	as long as short
MEXC ZETA_USDT	−0.1798%	4h	0.05764	−0.052%	$1.3M	$12.0M	50x	as long as short
BingX ZETA-USDTlong	−0.1692%	4h	0.05767	long leg	—	$7.1M	—
OKX ZETA-USDT-SWAP	−0.1557%	4h	0.05749	−0.312%	$1.1M	$48.2M	20x	as long as short
KuCoin ZETAUSDTM	−0.1470%	4h	0.05774	+0.121%	$1.1M	$5.4M	20x	as long as short
Variational Omni ZETA	−0.1242%	4h	0.05755	−0.215%	$107K	$741K	—	as long as short
Gate ZETA_USDT	−0.1240%	4h	0.05756	−0.191%	$576K	$10.0M	25x	as long as short
Hyperliquid ZETA	−0.0626%	1h	0.05759	−0.139%	$1.6M	$3.9M	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	−0.0269%	4h	0.05759	−0.139%	$5.0M	$83.9M	25x	as long as short
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+12.017%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05762	−0.087%	$2.1M	$62.1M	50x	as long as short