Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.3457%/8h= −378.6% APRpaid last 24h −0.246%

Price spread now: Gate against Injective−8.870%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$104 a day on $10k at the current rate, and Gate is 8.870% cheaper against Injective than usual: you would sell low and buy high (−$887 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.115% in total (about -6.0% 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	Injective ZETA/USDC PERP	0.06460	0.0033	pay 0.0004% / 1h	28m 44s	$1K	$5K	5.5x
Short	Gate ZETA_USDT	0.05887	−0.3424	pay 0.1712% / 4h	3h 28m	$600K	$10.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −8.870%Rate

Funding earned: −$726.04
Price spread: −8.870% → 0.000%: −$887
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,628.06
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	6.01 bp	44.6 bp −$45	310.3 bp −$3,103	doesn't fit	doesn't fit

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_USDTshort	−0.3424%	4h	0.05887	−8.870%	$600K	$10.1M	25x
Kraken Futures PF_ZETAUSD	−0.2760%	1h	0.05901	−8.646%	$48K	$708K	10x	as long as short
Bybit ZETAUSDT	−0.2462%	4h	0.05847	−9.489%	$5.1M	$84.8M	25x	as long as short
Binance ZETAUSDT	−0.2059%	4h	0.05890	−8.824%	$8.0M	$328.1M	50x	as long as short
MEXC ZETA_USDT	−0.2014%	4h	0.05882	−8.947%	$1.2M	$12.1M	50x	as long as short
BloFin ZETA-USDT	−0.1965%	4h	0.05893	−8.777%	$374K	$1.1M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.1933%	4h	0.05842	−9.567%	$1.1M	$49.6M	20x	as long as short
BingX ZETA-USDT	−0.1828%	4h	0.05835	−9.675%	—	$7.2M	—	as long as short
KuCoin ZETAUSDTM	−0.1716%	4h	0.05855	−9.365%	$1.1M	$5.4M	20x	as long as short
Variational Omni ZETA	−0.1457%	4h	0.05959	−7.762%	$111K	$747K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	−0.0778%	1h	0.05888	−8.854%	$1.6M	$3.9M	3x	as long as short
Injective ZETA/USDC PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05843	−9.551%	$2.2M	$63.0M	50x	as long as short