Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1449%/8h= −158.7% APRpaid last 24h −0.184%

Price spread now: Gate against Injective−8.700%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and Gate is 8.700% cheaper against Injective than usual: you would sell low and buy high (−$870 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.164% in total (about -8.5% 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	Injective ZETA/USDC PERP	0.06460	0.0033	pay 0.0004% / 1h	2m 27s	$1K	$1K	5.5x
Short	Gate ZETA_USDT	0.05898	−0.1416	pay 0.0708% / 4h	1h 02m	$629K	$8.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −8.700%Rate

Funding earned: −$304.36
Price spread: −8.700% → 0.000%: −$869.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,189.35
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 1 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	5.94 bp	35.0 bp −$35	380.1 bp −$3,801	doesn't fit	doesn't fit

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	−0.3548%	1h	0.05896	−8.723%	$53K	$673K	10x	as long as short
Variational Omni ZETA	−0.1617%	4h	0.05883	−8.925%	$121K	$679K	—	as long as short
Gate ZETA_USDTshort	−0.1416%	4h	0.05898	−8.700%	$629K	$8.7M	25x
Bybit ZETAUSDT	−0.1226%	4h	0.05889	−8.839%	$5.0M	$81.7M	25x	as long as short
BloFin ZETA-USDT	−0.1142%	4h	0.05897	−8.715%	$378K	$1.2M	50x	as long as short
Binance ZETAUSDT	−0.1117%	4h	0.05898	−8.695%	$7.8M	$307.9M	50x	as long as short
MEXC ZETA_USDT	−0.1116%	4h	0.05901	−8.653%	$1.2M	$10.9M	50x	as long as short
KuCoin ZETAUSDTM	−0.0860%	4h	0.05895	−8.746%	$1.0M	$4.7M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.0795%	4h	0.05896	−8.731%	$1.2M	$44.2M	20x	as long as short
Hyperliquid ZETA	−0.0160%	1h	0.05896	−8.731%	$1.6M	$3.2M	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 PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$1K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05892	−8.793%	$2.4M	$59.4M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05898	−8.700%	—	$7.4M	—	as long as short