Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2007%/8h= −219.8% APRpaid last 24h −0.274%

Price spread now: OKX against Injective−9.412%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 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 −$60 a day on $10k at the current rate, and OKX is 9.412% cheaper against Injective than usual: you would sell low and buy high (−$941 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 -0.182% in total (about -9.5% 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	3m 03s	$1K	$5K	5.5x
Short	OKX ZETA-USDT-SWAP	0.05852	−0.1974	pay 0.0987% / 4h	3h 03m	$1.1M	$50.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now −9.412%Rate

Funding earned: −$421.46
Price spread: −9.412% → 0.000%: −$941.18
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1,372.66
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; OKX: 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 OKX live order book, 1 min ago	3.41 bp	22.6 bp −$23	70.3 bp −$703	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
Gate ZETA_USDT	−0.2828%	4h	0.05862	−9.257%	$608K	$10.2M	25x	as long as short
Kraken Futures PF_ZETAUSD	−0.2777%	1h	0.05865	−9.215%	$48K	$712K	10x	as long as short
Binance ZETAUSDT	−0.2049%	4h	0.05860	−9.288%	$8.1M	$332.2M	50x	as long as short
MEXC ZETA_USDT	−0.2044%	4h	0.05870	−9.133%	$1.1M	$12.2M	50x	as long as short
BloFin ZETA-USDT	−0.2025%	4h	0.05855	−9.365%	$392K	$1.2M	50x	as long as short
OKX ZETA-USDT-SWAPshort	−0.1974%	4h	0.05852	−9.412%	$1.1M	$50.3M	20x
BingX ZETA-USDT	−0.1940%	4h	0.05863	−9.241%	—	$7.2M	—	as long as short
KuCoin ZETAUSDTM	−0.1912%	4h	0.05870	−9.133%	$1.2M	$5.5M	20x	as long as short
Variational Omni ZETA	−0.1529%	4h	0.05844	−9.537%	$108K	$749K	—	as long as short
Bybit ZETAUSDT	−0.1107%	4h	0.05852	−9.412%	$5.1M	$85.8M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	−0.0476%	1h	0.05864	−9.226%	$1.6M	$3.9M	3x	as long as short
Injective ZETA/USDC PERPlong	+0.0033%	1h	0.06460	long leg	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05852	−9.412%	$2.3M	$64.0M	50x	as long as short