Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.227%

Price spread now: Injective against Variational Omni+8.023%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 8.023% dearer against Variational Omni than usual: you sell high and buy low: +$802 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZETA	0.05980	−0.0179	get 0.0089% / 4h	2h 05m	$138K	$702K	—
Short	Injective ZETA/USDC PERP	0.06460	0.0033	get 0.0004% / 1h	5m 11s	$1K	$5K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +8.023%Rate

Funding earned: $44.5
Price spread: +8.023% → 0.000%: $802.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $846.74
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 19 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 Variational Omni RFQ quote, 19 min ago	6.67 bp	doesn't fit	106.8 bp −$1,068	doesn't fit	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 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	−0.0884%	4h	0.05968	−0.205%	$597K	$9.5M	25x	as long as short
KuCoin ZETAUSDTM	−0.0530%	4h	0.05969	−0.188%	$1.1M	$5.1M	20x	as long as short
Binance ZETAUSDT	−0.0497%	4h	0.05973	−0.129%	$8.2M	$303.3M	50x	as long as short
MEXC ZETA_USDT	−0.0496%	4h	0.05975	−0.087%	$1.5M	$11.6M	50x	as long as short
BloFin ZETA-USDT	−0.0460%	4h	0.05977	−0.054%	$399K	$1.0M	50x	as long as short
Kraken Futures PF_ZETAUSD	−0.0430%	1h	0.05983	+0.049%	$66K	$631K	10x	as long as short
BingX ZETA-USDT	−0.0417%	4h	0.05969	−0.188%	—	$6.7M	—	as long as short
OKX ZETA-USDT-SWAP	−0.0266%	4h	0.05961	−0.322%	$1.1M	$45.7M	20x	as long as short
Variational Omni ZETAlong	−0.0179%	4h	0.05980	long leg	$138K	$702K	—
Bybit ZETAUSDT	+0.0024%	4h	0.05961	−0.322%	$5.3M	$78.2M	25x	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	+8.023%	$1K	$5K	5.5x
Hyperliquid ZETA	+0.0100%	1h	0.05974	−0.104%	$1.7M	$3.7M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05976	−0.071%	$2.2M	$57.7M	50x	as long as short