Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0741%/8h= −81.2% APRpaid last 24h −0.188%

Price spread now: KuCoin against Injective−9.009%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 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 −$22 a day on $10k at the current rate, and KuCoin is 9.009% cheaper against Injective than usual: you would sell low and buy high (−$901 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 -0.213% in total (about -11.1% 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	Injective ZETA/USDC PERP	0.06460	0.0033	pay 0.0004% / 1h	38m 40s	$1K	$1K	5.5x
Short	KuCoin ZETAUSDTM	0.05878	−0.0708	pay 0.0354% / 4h	1h 38m	$1.1M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now −9.009%Rate

Funding earned: −$155.68
Price spread: −9.009% → 0.000%: −$900.93
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,068.63
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	11.95 bp	62.0 bp −$62	doesn't fit	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
Kraken Futures PF_ZETAUSD	−0.3572%	1h	0.05857	−9.342%	$53K	$701K	10x	as long as short
Variational Omni ZETA	−0.1572%	4h	0.05836	−9.652%	$110K	$676K	—	as long as short
Bybit ZETAUSDT	−0.1399%	4h	0.05872	−9.102%	$5.0M	$84.5M	25x	as long as short
Gate ZETA_USDT	−0.1276%	4h	0.05871	−9.118%	$641K	$8.7M	25x	as long as short
Binance ZETAUSDT	−0.0829%	4h	0.05868	−9.164%	$7.8M	$320.7M	50x	as long as short
MEXC ZETA_USDT	−0.0820%	4h	0.05868	−9.164%	$1.2M	$10.8M	50x	as long as short
BloFin ZETA-USDT	−0.0816%	4h	0.05860	−9.288%	$380K	$1.3M	50x	as long as short
KuCoin ZETAUSDTMshort	−0.0708%	4h	0.05878	−9.009%	$1.1M	$5.1M	20x
OKX ZETA-USDT-SWAP	−0.0703%	4h	0.05866	−9.195%	$1.2M	$45.9M	20x	as long as short
Hyperliquid ZETA	−0.0116%	1h	0.05868	−9.164%	$1.6M	$3.4M	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 PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$1K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05876	−9.040%	$2.4M	$62.0M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05874	−9.071%	—	$7.6M	—	as long as short