Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1665%/8h= −182.3% APRpaid last 24h −0.082%

Price spread now: HTX against Bybit−0.041%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1171.175% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.401%+$40 · spread now −0.041%, 7d avg −0.094%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.053% dearer against Bybit than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.094%): +$5 on $10k if it goes back. Holding the pair costs −$50 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.185% in total) that is about 2.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% 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	Bybit ZHIPUUSDT	98.260	0.2765	pay 0.2765% / 8h	5h 01m	$365K	$1.3M	25x
Short	HTX ZHIPU-USDT	98.220	0.1100	get 0.0550% / 4h	1h 01m	$18K	$324K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$349.68
Price spread: −0.041% → −0.094%: $5.31
Slippage, 4 orders: −$94.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$461.87
Costs to cover: 1.175%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; HTX: live order book, 61 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 Bybit live order book, 5 min ago	6.06 bp	37.8 bp −$38	85.2 bp −$852	doesn't fit	doesn't fit
Sell HTX live order book, 61 min ago	6.43 bp	17.5 bp −$18	44.0 bp −$440	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-USDT	0.0000%	4h	98.520	+0.265%	$1K	$864K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	98.050	−0.214%	$35K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	98.017	−0.247%	$27K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	98.130	−0.132%	$578	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0144%	1h	98.148	−0.114%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0425%	8h	98.390	+0.132%	$3.1M	$11.4M	50x	as long as short
Aster ZHIPUUSDT	+0.0586%	8h	98.254	−0.006%	$50K	$52K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1094%	1h	98.230	−0.031%	$37K	$21K	5x	as long as short
HTX ZHIPU-USDTshort	+0.1100%	4h	98.220	−0.041%	$18K	$324K	20x
Lighter ZHIPU	+0.1344%	1h	98.120	−0.142%	$103K	$20K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZHIPUUSDT	+0.1372%	8h	98.320	+0.061%	$1.9M	$3.8M	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1526%	4h	98.090	−0.173%	$40K	$123K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1602%	8h	98.500	+0.244%	$5.4M	$15.8M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1739%	1h	98.170	−0.092%	$27.5M	$6.8M	10x	as long as short
Binance ZHIPUUSDT	+0.2226%	4h	98.216	−0.045%	$22.7M	$58.7M	25x	as long as short
Bybit ZHIPUUSDTlong	+0.2765%	8h	98.260	long leg	$365K	$1.3M	25x
edgeX ZHIPUUSDC	+0.2984%	4h	98.953	+0.705%	$19K	$150K	10x	as long as short