Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1252%/8h= +137.1% APRpaid last 24h +0.130%

Price spread now: Hyperliquid against Gate+0.171%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1721.719% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 7 days−0.185%−$18 · spread now +0.171%, 7d avg −0.004%

Together, before fees−0.414%+ Points / potential airdropHyperliquid: Season 2 · farm board−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Hyperliquid is 0.174% dearer against Gate than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.004%. Mind the row above: over the last 7 days funding on this pair cost −0.229%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.229% in total (about -11.9% 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	Gate ZETA_USDT	0.06435	−0.1152	get 0.0576% / 4h	54m 39s	$659K	$10.6M	25x
Short	Hyperliquid ZETA	0.06446	0.0100	get 0.0013% / 1h	54m 39s	$1.8M	$4.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.171%Rate

Funding earned: $262.92
Price spread: +0.171% → −0.004%: $17.45
Slippage, 4 orders: −$147.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $108.45
Costs to cover: 1.719%
Break-even: 4.1 days

Slippage from Gate: live order book, 4 min ago; Hyperliquid: live order book, 7 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 Gate live order book, 4 min ago	3.13 bp	55.7 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	3.96 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit

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	−0.2178%	1h	0.06443	+0.117%	$51K	$732K	10x	as long as short
KuCoin ZETAUSDTM	−0.1602%	4h	0.06455	+0.311%	$1.2M	$5.8M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1595%	4h	0.06510	+1.166%	$1.4M	$60.9M	20x	as long as short
BloFin ZETA-USDT	−0.1449%	4h	0.06417	−0.280%	$440K	$1.4M	50x	as long as short
MEXC ZETA_USDT	−0.1404%	4h	0.06496	+0.948%	$1.3M	$12.6M	50x	as long as short
Binance ZETAUSDT	−0.1385%	4h	0.06493	+0.898%	$9.4M	$363.1M	50x	as long as short
Variational Omni ZETA	−0.1297%	4h	0.06386	−0.755%	$122K	$768K	—	as long as short
Gate ZETA_USDTlong	−0.1152%	4h	0.06435	long leg	$659K	$10.6M	25x
Bybit ZETAUSDT	−0.0826%	4h	0.06502	+1.041%	$5.8M	$94.0M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+0.389%	$1K	$3K	5.5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETAshort	+0.0100%	1h	0.06446	+0.171%	$1.8M	$4.1M	3x
Bitget ZETAUSDT	+0.0100%	4h	0.06464	+0.451%	$2.5M	$70.6M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.06437	+0.031%	—	$7.9M	—	as long as short