Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1443%/8h= −158.0% APRpaid last 24h −0.052%

Price spread now: SunX against Bitget−0.094%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$295as in the Funding arb table

Net, price: spread back to 7d avg − costs−$307as in the Price arb table

costs, in and out, $10k−$2942.940% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.438%+$44 · spread now −0.094%, 7d avg +0.034%

Together, before fees+0.427%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and SunX is 0.127% cheaper against Bitget than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.011% in total (about -0.6% 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	Bitget ZHIPUUSDT	96.020	0.1443	pay 0.1443% / 8h	4h 17m	$1.9M	$3.9M	20x
Short	SunX ZHIPU-USDT	95.930	0	get 0.0000% / 4h	17m 57s	$1K	$850K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bitget. 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 BitgetbpFee SunXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$303.03
Price spread: −0.094% → +0.034%: −$12.73
Slippage, 4 orders: −$274.04
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$609.8
Costs to cover: 2.940%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; SunX: live order book, 25 min ago.

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 Bitget live order book, 5 min ago	3.62 bp	26.9 bp −$27	39.1 bp −$391	doesn't fit	doesn't fit
Sell SunX live order book, 25 min ago	16.46 bp	147.7 bp −$148	doesn't fit	doesn't fit	doesn't fit

ZHIPU on 17 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
SunX ZHIPU-USDTshort	0.0000%	4h	95.930	−0.094%	$1K	$850K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	95.960	−0.062%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.050	+0.031%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.020	0.000%	$566	$798	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0180%	1h	96.600	+0.604%	$36K	$20K	5x	as long as short
Gate ZHIPU_USDT	+0.0196%	8h	96.060	+0.042%	$3.0M	$11.7M	50x	as long as short
Aevo ZHIPU-PERP	+0.0208%	1h	96.007	−0.014%	—	—	10x	as long as short
Lighter ZHIPU	+0.0312%	1h	96.000	−0.021%	$101K	$20K	10x	as long as short
HTX ZHIPU-USDT	+0.0597%	4h	95.940	−0.083%	$17K	$330K	20x	as long as short
Aster ZHIPUUSDT	+0.0673%	8h	96.124	+0.108%	$49K	$51K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ZHIPU	+0.0716%	1h	95.981	−0.041%	$26.9M	$7.2M	10x	as long as short
KuCoin ZHIPUUSDTM	+0.1244%	4h	95.960	−0.062%	$39K	$125K	20x	as long as short
Bitget ZHIPUUSDTlong	+0.1443%	8h	96.020	long leg	$1.9M	$3.9M	20x
Binance ZHIPUUSDT	+0.1744%	4h	95.900	−0.125%	$22.5M	$61.7M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1834%	8h	96.050	+0.031%	$5.7M	$16.4M	25x	as long as short
Bybit ZHIPUUSDT	+0.1985%	8h	96.000	−0.021%	$274K	$1.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.2402%	4h	96.398	+0.393%	$19K	$150K	10x	as long as short