Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0231%/8h= +25.2% APRpaid last 24h +0.108%

Price spread now: Hyperliquid against BingX−0.052%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1111.110% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 7 days+0.118%+$12 · spread now −0.052%, 7d avg −0.017%

Together, before fees−0.079%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.035% cheaper against BingX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.017%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.197%, 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	BingX ZETA-USDT	0.05762	−0.1858	get 0.0929% / 4h	1h 36m	—	$7.6M	—
Short	Hyperliquid ZETA	0.05759	−0.1627	pay 0.0203% / 1h	36m 29s	$1.6M	$4.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now −0.052%Rate

Funding earned: $48.42
Price spread: −0.052% → −0.017%: −$3.51
Slippage, 4 orders: −$91.97
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$66.06
Costs to cover: 1.110%
Break-even: 16.6 days

Slippage from BingX: live order book, 1 min ago; Hyperliquid: live order book, 5 min ago.

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 BingX live order book, 1 min ago	3.47 bp	17.5 bp −$17	43.9 bp −$439	406.4 bp −$40.6K	727.1 bp −$363.6K
Sell Hyperliquid live order book, 5 min ago	6.95 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit

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
KuCoin ZETAUSDTM	−0.2086%	4h	0.05765	+0.052%	$1.1M	$5.6M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1961%	4h	0.05763	+0.017%	$1.1M	$51.8M	20x	as long as short
BingX ZETA-USDTlong	−0.1858%	4h	0.05762	long leg	—	$7.6M	—
BloFin ZETA-USDT	−0.1850%	4h	0.05763	+0.017%	$389K	$1.2M	50x	as long as short
Binance ZETAUSDT	−0.1813%	4h	0.05761	−0.019%	$8.0M	$348.0M	50x	as long as short
MEXC ZETA_USDT	−0.1800%	4h	0.05761	−0.017%	$1.0M	$12.4M	50x	as long as short
Kraken Futures PF_ZETAUSD	−0.1784%	1h	0.05767	+0.091%	$47K	$719K	10x	as long as short
Gate ZETA_USDT	−0.1688%	4h	0.05766	+0.069%	$584K	$10.6M	25x	as long as short
Hyperliquid ZETAshort	−0.1627%	1h	0.05759	−0.052%	$1.6M	$4.0M	3x
Variational Omni ZETA	−0.1499%	4h	0.05763	+0.024%	$112K	$758K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.1108%	4h	0.05763	+0.017%	$5.2M	$89.9M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+12.114%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05764	+0.035%	$2.3M	$67.0M	50x	as long as short