Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.227%

Price spread now: Injective against Variational Omni+6.958%46s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Injective is 6.958% dearer against Variational Omni than usual: you sell high and buy low: +$696 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	Variational Omni ZETA	0.06040	−0.0403	get 0.0201% / 4h	1h 22m	$142K	$708K	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	22m 26s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +6.958%Rate

Funding earned: $91.54
Price spread: +6.958% → 0.000%: $695.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $787.34
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 62 min ago; Injective: no order-book sample. 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 Variational Omni RFQ quote, 62 min ago	6.67 bp	doesn't fit	106.8 bp −$1,068	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	−0.1138%	4h	0.06046	+0.104%	$607K	$9.5M	25x	as long as short
Binance ZETAUSDT	−0.0662%	4h	0.06045	+0.084%	$8.6M	$305.9M	50x	as long as short
MEXC ZETA_USDT	−0.0648%	4h	0.06048	+0.137%	$1.5M	$11.6M	50x	as long as short
BloFin ZETA-USDT	−0.0637%	4h	0.06039	−0.012%	$413K	$1.0M	50x	as long as short
BingX ZETA-USDT	−0.0604%	4h	0.06043	+0.054%	—	$6.8M	—	as long as short
OKX ZETA-USDT-SWAP	−0.0593%	4h	0.06032	−0.128%	$1.1M	$46.6M	20x	as long as short
KuCoin ZETAUSDTM	−0.0544%	4h	0.06046	+0.104%	$1.2M	$5.1M	20x	as long as short
Variational Omni ZETAlong	−0.0403%	4h	0.06040	long leg	$142K	$708K	—
Kraken Futures PF_ZETAUSD	−0.0263%	1h	0.06050	+0.166%	$67K	$634K	10x	as long as short
Bybit ZETAUSDT	−0.0144%	4h	0.06042	+0.037%	$5.3M	$78.8M	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	−0.0118%	1h	0.06048	+0.137%	$1.8M	$3.7M	3x	as long as short
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+6.958%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.06057	+0.286%	$2.3M	$58.1M	50x	as long as short