Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.107%

Price spread now: Injective against BingX+10.598%57s7-day average — · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 10.598% dearer against BingX than usual: you sell high and buy low (spread +10.598% now, against zero (this spread has no 7-day history yet)): +$1,060 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 months. Mind the row above: over the last 7 days funding on this pair paid +0.146%, so the current rate has only just turned against you. The two prices were read 57 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	BingX ZETA-USDT	0.05841	0.0100	pay 0.0050% / 4h	3h 26m	—	$7.2M	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	26m 16s	$1K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +10.598%Rate

Funding earned: −$14
Price spread: +10.598% → 0.000%: $1,059.75
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,035.73
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 11 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 BingX live order book, 11 min ago	3.45 bp	18.9 bp −$19	63.7 bp −$637	528.2 bp −$52.8K	853.8 bp −$426.9K
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
Kraken Futures PF_ZETAUSD	−0.3665%	1h	0.05844	+0.055%	$56K	$600K	10x	as long as short
Bybit ZETAUSDT	−0.2285%	4h	0.05841	0.000%	$4.8M	$76.8M	25x	as long as short
Gate ZETA_USDT	−0.1974%	4h	0.05845	+0.068%	$588K	$7.1M	25x	as long as short
Variational Omni ZETA	−0.1749%	4h	0.05758	−1.420%	$118K	$575K	—	as long as short
BloFin ZETA-USDT	−0.1104%	4h	0.05788	−0.907%	$360K	$1.2M	50x	as long as short
Binance ZETAUSDT	−0.1054%	4h	0.05843	+0.034%	$7.5M	$286.0M	50x	as long as short
MEXC ZETA_USDT	−0.1054%	4h	0.05840	−0.017%	$1.2M	$9.8M	50x	as long as short
OKX ZETA-USDT-SWAP	−0.0779%	4h	0.05836	−0.086%	$1.1M	$40.5M	20x	as long as short
KuCoin ZETAUSDTM	−0.0660%	4h	0.05859	+0.308%	$973K	$4.4M	20x	as long as short
Hyperliquid ZETA	−0.0196%	1h	0.05833	−0.137%	$1.6M	$3.0M	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 PERPshort	+0.0033%	1h	0.06460	+10.598%	$1K	$1K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05854	+0.223%	$2.5M	$56.5M	50x	as long as short
BingX ZETA-USDTlong	+0.0100%	4h	0.05841	long leg	—	$7.2M	—