Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0475%/8h= +52.0% APRpaid last 24h +0.197%

Price spread now: Injective against MEXC+7.864%70s7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 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 +$14 a day on $10k at the current rate, and Injective is 7.864% dearer against MEXC than usual: you sell high and buy low: +$786 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% 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	MEXC ZETA_USDT	0.05989	−0.0442	get 0.0221% / 4h	3h 18m	$1.2M	$12.9M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	18m 09s	$1K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now +7.864%Rate

Funding earned: $99.82
Price spread: +7.864% → 0.000%: $786.44
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $882.24
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, just now; 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 MEXC live order book, just now	1.67 bp	11.3 bp −$11	65.4 bp −$654	134.3 bp −$13.4K	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
Gate ZETA_USDT	−0.1158%	4h	0.05986	−0.050%	$626K	$10.0M	25x	as long as short
Variational Omni ZETA	−0.0878%	4h	0.05983	−0.101%	$113K	$727K	—	as long as short
Bybit ZETAUSDT	−0.0838%	4h	0.05988	−0.017%	$5.1M	$92.5M	25x	as long as short
Kraken Futures PF_ZETAUSD	−0.0680%	1h	0.05969	−0.329%	$53K	$734K	10x	as long as short
KuCoin ZETAUSDTM	−0.0536%	4h	0.05991	+0.033%	$1.2M	$5.7M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.0533%	4h	0.05987	−0.033%	$1.2M	$53.1M	20x	as long as short
BloFin ZETA-USDT	−0.0443%	4h	0.05961	−0.468%	$388K	$1.4M	50x	as long as short
Binance ZETAUSDT	−0.0442%	4h	0.05993	+0.067%	$8.2M	$356.5M	50x	as long as short
MEXC ZETA_USDTlong	−0.0442%	4h	0.05989	long leg	$1.2M	$12.9M	50x
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+7.864%	$1K	$1K	5.5x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	+0.0100%	1h	0.05991	+0.033%	$1.7M	$3.7M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05996	+0.117%	$2.3M	$69.0M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05989	0.000%	—	$7.9M	—	as long as short