Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1951%/8h= −213.7% APRpaid last 24h −0.222%

Price spread now: BingX against Injective−10.759%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BingX

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 against this trade now: funding costs −$59 a day on $10k at the current rate, and BingX is 10.759% cheaper against Injective than usual: you would sell low and buy high (−$1,076 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	Injective ZETA/USDC PERP	0.06460	0.0033	pay 0.0004% / 1h	49m 07s	$1K	$5K	5.5x
Short	BingX ZETA-USDT	0.05765	−0.1918	pay 0.0959% / 4h	2h 49m	—	$7.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −10.759%Rate

Funding earned: −$409.78
Price spread: −10.759% → 0.000%: −$1,075.85
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,495.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BingX: live order book, 4 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	2.61 bp	12.6 bp −$13	46.5 bp −$465	384.0 bp −$38.4K	783.7 bp −$391.9K

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	−0.2020%	4h	0.05769	−10.697%	$601K	$10.3M	25x	as long as short
MEXC ZETA_USDT	−0.1966%	4h	0.05765	−10.759%	$1.1M	$12.2M	50x	as long as short
Binance ZETAUSDT	−0.1955%	4h	0.05768	−10.712%	$8.0M	$335.2M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.1935%	4h	0.05759	−10.851%	$1.1M	$49.9M	20x	as long as short
BloFin ZETA-USDT	−0.1933%	4h	0.05766	−10.743%	$379K	$1.2M	50x	as long as short
BingX ZETA-USDTshort	−0.1918%	4h	0.05765	−10.759%	—	$7.3M	—
KuCoin ZETAUSDTM	−0.1900%	4h	0.05743	−11.099%	$1.2M	$5.6M	20x	as long as short
Variational Omni ZETA	−0.1354%	4h	0.05751	−10.981%	$107K	$749K	—	as long as short
Kraken Futures PF_ZETAUSD	−0.0982%	1h	0.05752	−10.954%	$47K	$713K	10x	as long as short
Bybit ZETAUSDT	−0.0604%	4h	0.05757	−10.882%	$5.0M	$86.3M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	−0.0039%	1h	0.05756	−10.898%	$1.6M	$3.9M	3x	as long as short
Injective ZETA/USDC PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05764	−10.774%	$2.2M	$64.7M	50x	as long as short