Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0219%/8h= −24.0% APRpaid last 24h −0.034%

Price spread now: Binance against Hyperliquid+0.017%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.317%+$32 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.017%, 7d avg +0.006%

Together, before fees+0.231%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.317%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZETA	0.06018	−0.0367	get 0.0046% / 1h	55m 31s	$1.7M	$3.7M	3x
Short	Binance ZETAUSDT	0.06019	−0.0586	pay 0.0293% / 4h	1h 55m	$8.3M	$303.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$46
Price spread: +0.017% → +0.006%: $1.07
Slippage, 4 orders: −$56.66
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$120.59
Costs to cover: 0.757%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Binance: live order book, 3 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 Hyperliquid live order book, 6 min ago	1.67 bp	25.9 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.84 bp	9.4 bp −$9	54.6 bp −$546	396.1 bp −$39.6K	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
Gate ZETA_USDT	−0.0926%	4h	0.06010	−0.133%	$600K	$9.5M	25x	as long as short
BloFin ZETA-USDT	−0.0633%	4h	0.05991	−0.449%	$403K	$1.0M	50x	as long as short
Binance ZETAUSDTshort	−0.0586%	4h	0.06019	+0.017%	$8.3M	$303.8M	50x
MEXC ZETA_USDT	−0.0586%	4h	0.06023	+0.083%	$1.5M	$11.6M	50x	as long as short
KuCoin ZETAUSDTM	−0.0566%	4h	0.06015	−0.050%	$1.2M	$5.1M	20x	as long as short
BingX ZETA-USDT	−0.0514%	4h	0.06011	−0.116%	—	$6.7M	—	as long as short
Hyperliquid ZETAlong	−0.0367%	1h	0.06018	long leg	$1.7M	$3.7M	3x
OKX ZETA-USDT-SWAP	−0.0348%	4h	0.06014	−0.066%	$1.1M	$46.2M	20x	as long as short
Kraken Futures PF_ZETAUSD	−0.0265%	1h	0.06023	+0.075%	$66K	$631K	10x	as long as short
Variational Omni ZETA	−0.0209%	4h	0.05991	−0.445%	$139K	$703K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.0060%	4h	0.06021	+0.050%	$5.3M	$78.3M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+7.345%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06024	+0.100%	$2.2M	$57.8M	50x	as long as short