Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0905%/8h= −99.1% APRpaid last 24h −0.188%

Price spread now: KuCoin against Injective−8.994%55s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 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 −$27 a day on $10k at the current rate, and KuCoin is 8.994% cheaper against Injective than usual: you would sell low and buy high (−$899 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.213% in total (about -11.1% 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	4m 25s	$1K	$1K	5.5x
Short	KuCoin ZETAUSDTM	0.05879	−0.0872	pay 0.0436% / 4h	1h 04m	$1.0M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −8.994%Rate

Funding earned: −$190.12
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 KuCoin: 6 bp × 2 orders: −$12
Net: −$1,101.52
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	10.23 bp	91.8 bp −$92	doesn't fit	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
Kraken Futures PF_ZETAUSD	−0.3559%	1h	0.05878	−9.010%	$53K	$673K	10x	as long as short
Variational Omni ZETA	−0.1617%	4h	0.05883	−8.925%	$121K	$679K	—	as long as short
Gate ZETA_USDT	−0.1418%	4h	0.05884	−8.916%	$631K	$8.7M	25x	as long as short
Bybit ZETAUSDT	−0.1263%	4h	0.05874	−9.071%	$4.9M	$81.8M	25x	as long as short
Binance ZETAUSDT	−0.1111%	4h	0.05883	−8.932%	$7.8M	$308.4M	50x	as long as short
MEXC ZETA_USDT	−0.1110%	4h	0.05883	−8.932%	$1.2M	$10.9M	50x	as long as short
BloFin ZETA-USDT	−0.1108%	4h	0.05871	−9.118%	$376K	$1.2M	50x	as long as short
KuCoin ZETAUSDTMshort	−0.0872%	4h	0.05879	−8.994%	$1.0M	$4.7M	20x
OKX ZETA-USDT-SWAP	−0.0822%	4h	0.05879	−8.994%	$1.2M	$44.2M	20x	as long as short
Hyperliquid ZETA	−0.0176%	1h	0.05879	−8.994%	$1.6M	$3.2M	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 PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$1K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05877	−9.025%	$2.4M	$59.6M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05881	−8.963%	—	$7.5M	—	as long as short