Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1231%/8h= +134.8% APRpaid last 24h +0.200%

Price spread now: Injective against BloFin−0.661%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.661% cheaper against BloFin than usual: you would sell low and buy high (spread −0.661% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$66 on $10k: about 43 hours of funding at the current rate (+$37 a day). At the pace of the last 7 days (+0.065% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.065% in total (about 3.4% 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	BloFin ZETA-USDT	0.06503	−0.1198	get 0.0599% / 4h	44m 09s	$444K	$1.5M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	44m 09s	$1K	$3K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.661%Rate

Funding earned: $258.54
Price spread: −0.661% → 0.000%: −$66.12
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $180.4
Costs to cover: 0.120%
Break-even: 2.1 days

Slippage unknown: BloFin: live order book, 4 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 BloFin live order book, 4 min ago	2.96 bp	15.7 bp −$16	37.7 bp −$377	doesn't fit	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
Kraken Futures PF_ZETAUSD	−0.2175%	1h	0.06451	−0.794%	$51K	$732K	10x	as long as short
KuCoin ZETAUSDTM	−0.1512%	4h	0.06425	−1.199%	$1.2M	$5.9M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1477%	4h	0.06407	−1.476%	$1.4M	$61.3M	20x	as long as short
Variational Omni ZETA	−0.1268%	4h	0.06734	+3.556%	$130K	$769K	—	as long as short
Binance ZETAUSDT	−0.1250%	4h	0.06439	−0.981%	$9.5M	$370.5M	50x	as long as short
MEXC ZETA_USDT	−0.1246%	4h	0.06436	−1.030%	$1.3M	$12.8M	50x	as long as short
BloFin ZETA-USDTlong	−0.1198%	4h	0.06503	long leg	$444K	$1.5M	50x
Gate ZETA_USDT	−0.1036%	4h	0.06446	−0.877%	$704K	$10.8M	25x	as long as short
Bybit ZETAUSDT	−0.0802%	4h	0.06411	−1.415%	$5.7M	$95.6M	25x	as long as short
Hyperliquid ZETA	+0.0009%	1h	0.06453	−0.769%	$1.8M	$4.2M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	−0.661%	$1K	$3K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.06377	−1.938%	$2.5M	$72.1M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.06394	−1.676%	—	$8.0M	—	as long as short