Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1135%/8h= +124.2% APRpaid last 24h +0.131%

Price spread now: Injective against BloFin+11.784%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 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 +$34 a day on $10k at the current rate, and Injective is 11.784% dearer against BloFin than usual: you sell high and buy low: +$1,178 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 0.098% in total (about 5.1% 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	BloFin ZETA-USDT	0.05779	−0.1101	get 0.0551% / 4h	4m 46s	$359K	$1.2M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	4m 46s	$1K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +11.784%Rate

Funding earned: $238.27
Price spread: +11.784% → 0.000%: $1,178.4
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,404.66
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 3 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 BloFin live order book, 3 min ago	1.73 bp	18.6 bp −$19	56.2 bp −$562	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	−0.3092%	1h	0.05761	−0.305%	$54K	$629K	10x	as long as short
Variational Omni ZETA	−0.1671%	4h	0.05770	−0.152%	$119K	$652K	—	as long as short
Gate ZETA_USDT	−0.1264%	4h	0.05784	+0.087%	$588K	$8.2M	25x	as long as short
Binance ZETAUSDT	−0.1123%	4h	0.05779	0.000%	$7.4M	$295.2M	50x	as long as short
MEXC ZETA_USDT	−0.1122%	4h	0.05778	−0.017%	$1.2M	$10.3M	50x	as long as short
BloFin ZETA-USDTlong	−0.1101%	4h	0.05779	long leg	$359K	$1.2M	50x
Bybit ZETAUSDT	−0.1051%	4h	0.05773	−0.104%	$4.7M	$78.8M	25x	as long as short
OKX ZETA-USDT-SWAP	−0.0776%	4h	0.05774	−0.087%	$1.1M	$41.1M	20x	as long as short
KuCoin ZETAUSDTM	−0.0724%	4h	0.05781	+0.035%	$969K	$4.5M	20x	as long as short
Hyperliquid ZETA	−0.0289%	1h	0.05773	−0.104%	$1.6M	$3.1M	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	+11.784%	$1K	$1K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05781	+0.035%	$2.5M	$57.4M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05777	−0.035%	—	$7.3M	—	as long as short