Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1917%/8h= +209.9% APRpaid last 24h +0.203%

Price spread now: Injective against MEXC+9.864%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and Injective is 9.864% dearer against MEXC than usual: you sell high and buy low: +$986 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.078% in total (about 4.1% 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	MEXC ZETA_USDT	0.05880	−0.1884	get 0.0942% / 4h	2h 16m	$1.1M	$12.3M	50x
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	16m 59s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now +9.864%Rate

Funding earned: $402.64
Price spread: +9.864% → 0.000%: $986.39
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,385.01
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 1 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 MEXC live order book, 1 min ago	2.55 bp	8.4 bp −$8	60.5 bp −$605	136.4 bp −$13.6K	doesn't fit
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 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	−0.2004%	4h	0.05880	0.000%	$1.1M	$5.6M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1989%	4h	0.05872	−0.136%	$1.1M	$52.4M	20x	as long as short
Binance ZETAUSDT	−0.1893%	4h	0.05879	−0.023%	$8.1M	$344.3M	50x	as long as short
MEXC ZETA_USDTlong	−0.1884%	4h	0.05880	long leg	$1.1M	$12.3M	50x
BingX ZETA-USDT	−0.1879%	4h	0.05884	+0.068%	—	$7.4M	—	as long as short
Gate ZETA_USDT	−0.1646%	4h	0.05877	−0.051%	$607K	$10.6M	25x	as long as short
Variational Omni ZETA	−0.1469%	4h	0.05922	+0.713%	$114K	$757K	—	as long as short
Kraken Futures PF_ZETAUSD	−0.0960%	1h	0.05887	+0.123%	$48K	$719K	10x	as long as short
Bybit ZETAUSDT	−0.0832%	4h	0.05877	−0.051%	$5.3M	$89.0M	25x	as long as short
Hyperliquid ZETA	−0.0582%	1h	0.05883	+0.051%	$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 PERPshort	+0.0033%	1h	0.06460	+9.864%	$1K	$5K	5.5x
Bitget ZETAUSDT	+0.0100%	4h	0.05882	+0.034%	$2.3M	$66.4M	50x	as long as short