Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1727%/8h= +189.2% APRpaid last 24h +0.007%

Price spread now: Bitget against Hyperliquid+0.052%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1191.191% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.344%+$34 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.052%, 7d avg +0.086%

Together, before fees+0.321%+ Points / potential airdropHyperliquid: Season 2 · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.034% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.086%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$52 a day). At the pace of the last 7 days (+0.344% in total) that is about 16 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.344% in total (about 18.0% 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	Hyperliquid ZETA	0.05759	−0.1627	get 0.0203% / 1h	36m 10s	$1.6M	$4.0M	3x
Short	Bitget ZETAUSDT	0.05762	0.0100	get 0.0050% / 4h	1h 36m	$2.3M	$67.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $362.76
Price spread: +0.052% → +0.086%: −$3.37
Slippage, 4 orders: −$98.09
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: $240.3
Costs to cover: 1.191%
Break-even: 2.4 days

Slippage from Hyperliquid: live order book, 5 min ago; Bitget: live order book, 3 min ago.

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 Hyperliquid live order book, 5 min ago	6.95 bp	37.4 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.34 bp	21.5 bp −$22	94.9 bp −$949	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
KuCoin ZETAUSDTM	−0.2086%	4h	0.05765	+0.104%	$1.1M	$5.6M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1961%	4h	0.05760	+0.017%	$1.1M	$51.8M	20x	as long as short
BingX ZETA-USDT	−0.1858%	4h	0.05762	+0.052%	—	$7.6M	—	as long as short
BloFin ZETA-USDT	−0.1850%	4h	0.05763	+0.069%	$389K	$1.2M	50x	as long as short
Binance ZETAUSDT	−0.1813%	4h	0.05764	+0.087%	$8.0M	$348.0M	50x	as long as short
MEXC ZETA_USDT	−0.1800%	4h	0.05761	+0.035%	$1.0M	$12.4M	50x	as long as short
Kraken Futures PF_ZETAUSD	−0.1785%	1h	0.05765	+0.099%	$47K	$719K	10x	as long as short
Gate ZETA_USDT	−0.1688%	4h	0.05766	+0.122%	$584K	$10.6M	25x	as long as short
Hyperliquid ZETAlong	−0.1627%	1h	0.05759	long leg	$1.6M	$4.0M	3x
Variational Omni ZETA	−0.1499%	4h	0.05763	+0.076%	$112K	$758K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.1108%	4h	0.05763	+0.069%	$5.2M	$89.9M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+12.172%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDTshort	+0.0100%	4h	0.05762	+0.052%	$2.3M	$67.0M	50x