Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0771%/8h= +84.4% APRpaid last 24h +0.227%

Price spread now: Injective against Variational Omni+12.903%61s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Injective is 12.903% dearer against Variational Omni than usual: you sell high and buy low: +$1,290 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZETA	0.05722	−0.0738	get 0.0369% / 4h	20m 10s	$133K	$712K	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	20m 10s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +12.903%Rate

Funding earned: $161.88
Price spread: +12.903% → 0.000%: $1,290.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,452.15
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 59 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 Variational Omni RFQ quote, 59 min ago	5.00 bp	doesn't fit	93.3 bp −$933	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
Gate ZETA_USDT	−0.1464%	4h	0.05591	−2.285%	$563K	$9.7M	25x	as long as short
Binance ZETAUSDT	−0.1088%	4h	0.05602	−2.093%	$7.7M	$313.6M	50x	as long as short
MEXC ZETA_USDT	−0.1086%	4h	0.05593	−2.250%	$1.2M	$11.8M	50x	as long as short
BloFin ZETA-USDT	−0.1079%	4h	0.05739	+0.302%	$397K	$1.0M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.1001%	4h	0.05602	−2.093%	$994K	$44.8M	20x	as long as short
BingX ZETA-USDT	−0.0990%	4h	0.05593	−2.250%	—	$6.9M	—	as long as short
KuCoin ZETAUSDTM	−0.0822%	4h	0.05597	−2.180%	$1.1M	$5.2M	20x	as long as short
Variational Omni ZETAlong	−0.0738%	4h	0.05722	long leg	$133K	$712K	—
Bybit ZETAUSDT	−0.0491%	4h	0.05588	−2.337%	$4.7M	$81.0M	25x	as long as short
Hyperliquid ZETA	−0.0423%	1h	0.05601	−2.110%	$1.6M	$3.8M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZETAUSD	−0.0201%	1h	0.05575	−2.558%	$57K	$668K	10x	as long as short
Injective ZETA/USDC PERPshort	+0.0033%	1h	0.06460	+12.903%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05610	−1.953%	$1.9M	$59.8M	50x	as long as short