Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.009%

Price spread now: Injective against Bitget+12.231%71s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Injective

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

The price spread pays, funding is against you. Injective is 12.231% dearer against Bitget than usual: you sell high and buy low (spread +12.231% now, against zero (this spread has no 7-day history yet)): +$1,223 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 20 months. At the pace of the last 7 days (−0.001% in total) that is about years. The two prices were read 71 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	Bitget ZETAUSDT	0.05756	0.0100	pay 0.0050% / 4h	3h 32m	$2.5M	$56.6M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	32m 12s	$1K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +12.231%Rate

Funding earned: −$14
Price spread: +12.231% → 0.000%: $1,223.07
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,197.05
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	2.61 bp	27.0 bp −$27	106.9 bp −$1,069	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
Kraken Futures PF_ZETAUSD	−0.3716%	1h	0.05763	+0.126%	$55K	$601K	10x	as long as short
Bybit ZETAUSDT	−0.2444%	4h	0.05759	+0.052%	$4.7M	$77.1M	25x	as long as short
Gate ZETA_USDT	−0.2140%	4h	0.05763	+0.122%	$577K	$7.1M	25x	as long as short
Variational Omni ZETA	−0.1693%	4h	0.05793	+0.635%	$119K	$575K	—	as long as short
Binance ZETAUSDT	−0.1057%	4h	0.05752	−0.072%	$7.4M	$287.4M	50x	as long as short
BloFin ZETA-USDT	−0.1055%	4h	0.05801	+0.782%	$358K	$1.2M	50x	as long as short
MEXC ZETA_USDT	−0.1046%	4h	0.05753	−0.052%	$1.2M	$9.8M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.0750%	4h	0.05751	−0.087%	$1.1M	$40.1M	20x	as long as short
KuCoin ZETAUSDTM	−0.0642%	4h	0.05775	+0.330%	$961K	$4.4M	20x	as long as short
Hyperliquid ZETA	−0.0186%	1h	0.05757	+0.017%	$1.6M	$3.0M	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 PERPshort	+0.0033%	1h	0.06460	+12.231%	$1K	$1K	5.5x
Bitget ZETAUSDTlong	+0.0100%	4h	0.05756	long leg	$2.5M	$56.6M	50x
BingX ZETA-USDT	+0.0100%	4h	0.05759	+0.052%	—	$7.2M	—	as long as short