Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0529%/8h= +57.9% APRpaid last 24h −0.155%

Price spread now: Kraken Futures against Variational Omni−0.035%7-day average +0.112% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.261%−$26 on $10k

Price spread, last 3 days (all we have)+0.261%+$26 · spread now −0.035%, 7d avg +0.112%

Together, before fees+0.001%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.147% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.112%). If the spread goes back, that is −$15 on $10k: about 22 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 3 days funding on this pair cost −0.261%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZETA	0.05819	−0.1500	get 0.0750% / 4h	2h 15m	$112K	$757K	—
Short	Kraken Futures PF_ZETAUSD	0.05817	−0.0971	pay 0.0121% / 1h	15m 46s	$48K	$719K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: $111.1
Price spread: −0.035% → +0.112%: −$14.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $86.44
Costs to cover: 0.100%
Break-even: 1.6 days

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Kraken Futures: live order book, 52 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 Variational Omni RFQ quote, 53 min ago	7.69 bp	doesn't fit	108.5 bp −$1,085	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 52 min ago	39.83 bp	69.6 bp −$70	doesn't fit	doesn't fit	doesn't fit

ZETA on 12 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	−0.2044%	4h	0.05814	−0.093%	$1.1M	$5.6M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1995%	4h	0.05818	−0.024%	$1.1M	$51.9M	20x	as long as short
Binance ZETAUSDT	−0.1891%	4h	0.05823	+0.061%	$8.1M	$344.5M	50x	as long as short
MEXC ZETA_USDT	−0.1890%	4h	0.05820	+0.010%	$1.1M	$12.3M	50x	as long as short
BingX ZETA-USDT	−0.1890%	4h	0.05821	+0.027%	—	$7.4M	—	as long as short
Gate ZETA_USDT	−0.1668%	4h	0.05822	+0.044%	$599K	$10.6M	25x	as long as short
Variational Omni ZETAlong	−0.1500%	4h	0.05819	long leg	$112K	$757K	—
Kraken Futures PF_ZETAUSDshort	−0.0971%	1h	0.05817	−0.035%	$48K	$719K	10x
Bybit ZETAUSDT	−0.0912%	4h	0.05825	+0.096%	$5.2M	$89.1M	25x	as long as short
Hyperliquid ZETA	−0.0635%	1h	0.05810	−0.162%	$1.6M	$4.0M	3x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+11.008%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05824	+0.079%	$2.3M	$66.5M	50x	as long as short