Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0538%/8h= +59.0% APRpaid last 24h +0.116%

Price spread now: Hyperliquid against OKX+0.160%7-day average −0.019% · you sell dearer than you buy

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

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.205%−$21 on $10k

Price spread, last 4 days (all we have)−0.368%−$37 · spread now +0.160%, 7d avg −0.019%

Together, before fees−0.573%+ Points / potential airdropHyperliquid: Season 2 · farm board−$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.179% dearer against OKX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.019%. Mind the row above: over the last 7 days funding on this pair cost −0.205%, 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 -0.205% in total (about -10.7% 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	OKX ZETA-USDT-SWAP	0.05618	−0.1216	get 0.0608% / 4h	6m 50s	$1.0M	$45.6M	20x
Short	Hyperliquid ZETA	0.05627	−0.0678	pay 0.0085% / 1h	6m 50s	$1.6M	$3.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.160%Rate

Funding earned: $113.06
Price spread: +0.160% → −0.019%: $17.93
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $111.99
Costs to cover: 0.190%
Break-even: 0.1 days

Slippage unknown: OKX: live order book, 2 min ago; Hyperliquid: live order book, 5 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 OKX live order book, 2 min ago	0.89 bp	19.2 bp −$19	64.0 bp −$640	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	3.58 bp	doesn't fit	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
Gate ZETA_USDT	−0.1756%	4h	0.05609	−0.160%	$582K	$9.8M	25x	as long as short
Binance ZETAUSDT	−0.1459%	4h	0.05616	−0.036%	$7.7M	$316.9M	50x	as long as short
BloFin ZETA-USDT	−0.1426%	4h	0.05618	0.000%	$377K	$1.0M	50x	as long as short
MEXC ZETA_USDT	−0.1422%	4h	0.05619	+0.018%	$1.2M	$11.9M	50x	as long as short
BingX ZETA-USDT	−0.1324%	4h	0.05616	−0.036%	—	$7.0M	—	as long as short
OKX ZETA-USDT-SWAPlong	−0.1216%	4h	0.05618	long leg	$1.0M	$45.6M	20x
KuCoin ZETAUSDTM	−0.1182%	4h	0.05608	−0.178%	$1.0M	$5.3M	20x	as long as short
Variational Omni ZETA	−0.1054%	4h	0.05564	−0.967%	$110K	$733K	—	as long as short
Bybit ZETAUSDT	−0.0799%	4h	0.05610	−0.142%	$4.8M	$81.7M	25x	as long as short
Hyperliquid ZETAshort	−0.0678%	1h	0.05627	+0.160%	$1.6M	$3.8M	3x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZETAUSD	−0.0201%	1h	0.05578	−0.707%	$55K	$675K	10x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+14.988%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05616	−0.036%	$2.0M	$60.4M	50x	as long as short