Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.107%

Price spread now: Bitget against Injective−8.994%111s7-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 Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 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. Bitget is 8.994% cheaper against Injective than usual: you would sell low and buy high (spread −8.994% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$899 on $10k: about 15 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.001% in total) that is about years. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

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	27m 33s	$1K	$5K	5.5x
Short	Bitget ZETAUSDT	0.05879	0.0100	get 0.0050% / 4h	27m 33s	$2.2M	$58.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −8.994%Rate

Funding earned: $14
Price spread: −8.994% → 0.000%: −$899.38
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$897.4
Costs to cover: 0.120%
Break-even: 455.7 days

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.55 bp	24.1 bp −$24	83.9 bp −$839	doesn't fit	doesn't fit

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	−0.1460%	4h	0.05875	−9.056%	$588K	$9.6M	25x	as long as short
Binance ZETAUSDT	−0.0988%	4h	0.05881	−8.963%	$8.2M	$310.4M	50x	as long as short
MEXC ZETA_USDT	−0.0986%	4h	0.05855	−9.365%	$1.4M	$11.7M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.0947%	4h	0.05874	−9.071%	$1.1M	$46.2M	20x	as long as short
BloFin ZETA-USDT	−0.0938%	4h	0.05902	−8.638%	$407K	$1.0M	50x	as long as short
BingX ZETA-USDT	−0.0926%	4h	0.05865	−9.211%	—	$6.8M	—	as long as short
KuCoin ZETAUSDTM	−0.0772%	4h	0.05874	−9.071%	$1.1M	$5.2M	20x	as long as short
Variational Omni ZETA	−0.0652%	4h	0.05914	−8.455%	$136K	$712K	—	as long as short
Bybit ZETAUSDT	−0.0505%	4h	0.05871	−9.118%	$5.0M	$80.0M	25x	as long as short
Hyperliquid ZETA	−0.0311%	1h	0.05854	−9.381%	$1.7M	$3.8M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZETAUSD	−0.0190%	1h	0.05884	−8.913%	$67K	$645K	10x	as long as short
Injective ZETA/USDC PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$5K	5.5x
Bitget ZETAUSDTshort	+0.0100%	4h	0.05879	−8.994%	$2.2M	$58.9M	50x