Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1039%/8h= +113.8% APRpaid last 24h +0.143%

Price spread now: Injective against BingX+15.152%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Injective is 15.152% dearer against BingX than usual: you sell high and buy low: +$1,515 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.5% 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	BingX ZETA-USDT	0.05610	−0.1006	get 0.0503% / 4h	19m 03s	—	$6.9M	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	19m 03s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +15.152%Rate

Funding earned: $218.26
Price spread: +15.152% → 0.000%: $1,515.15
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,723.39
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 4 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 BingX live order book, 4 min ago	3.46 bp	16.0 bp −$16	46.7 bp −$467	398.5 bp −$39.9K	777.0 bp −$388.5K
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	−0.1508%	4h	0.05613	+0.053%	$563K	$9.7M	25x	as long as short
BloFin ZETA-USDT	−0.1176%	4h	0.05617	+0.125%	$388K	$1.0M	50x	as long as short
Binance ZETAUSDT	−0.1143%	4h	0.05624	+0.250%	$7.8M	$314.0M	50x	as long as short
MEXC ZETA_USDT	−0.1086%	4h	0.05613	+0.053%	$1.3M	$11.8M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.1008%	4h	0.05616	+0.107%	$994K	$45.0M	20x	as long as short
BingX ZETA-USDTlong	−0.1006%	4h	0.05610	long leg	—	$6.9M	—
KuCoin ZETAUSDTM	−0.0842%	4h	0.05623	+0.232%	$1.1M	$5.3M	20x	as long as short
Variational Omni ZETA	−0.0738%	4h	0.05722	+1.992%	$133K	$712K	—	as long as short
Bybit ZETAUSDT	−0.0534%	4h	0.05616	+0.107%	$4.7M	$81.1M	25x	as long as short
Hyperliquid ZETA	−0.0465%	1h	0.05617	+0.125%	$1.6M	$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	−0.0200%	1h	0.05605	−0.091%	$57K	$669K	10x	as long as short
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+15.152%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05620	+0.178%	$1.9M	$59.8M	50x	as long as short