Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0744%/8h= −81.4% APRpaid last 24h −0.010%

Price spread now: KuCoin against Bybit−0.052%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2182.182% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.052%, 7d avg −0.043%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.043%, so right now this pair is about funding alone: −$22 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.171% in total (about -8.9% 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	95.440	0.1224	pay 0.1224% / 8h	2h 24m	$348K	$1.5M	25x
Short	KuCoin ZHIPUUSDTM	95.390	0.0480	get 0.0240% / 4h	2h 24m	$38K	$120K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$156.14
Price spread: −0.052% → −0.043%: −$0.95
Slippage, 4 orders: −$195.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$375.32
Costs to cover: 2.182%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: 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 Bybit live order book, 2 min ago	3.15 bp	43.7 bp −$44	226.1 bp −$2,261	doesn't fit	doesn't fit
Sell KuCoin live order book, 25 min ago	13.25 bp	53.4 bp −$53	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-USDT	0.0000%	4h	95.490	+0.052%	$1K	$848K	10x	as long as short
Gate ZHIPU_USDT	+0.0040%	8h	95.460	+0.021%	$3.0M	$12.2M	50x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.460	+0.021%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.063	−0.395%	$35K	$8K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.440	0.000%	$829	$1K	10x	as long as short
Aevo ZHIPU-PERP	+0.0184%	1h	95.417	−0.024%	—	—	10x	as long as short
HTX ZHIPU-USDT	+0.0338%	4h	95.580	+0.147%	$22K	$350K	20x	as long as short
KuCoin ZHIPUUSDTMshort	+0.0480%	4h	95.390	−0.052%	$38K	$120K	20x
Lighter ZHIPU	+0.0520%	1h	95.420	−0.021%	$100K	$20K	10x	as long as short
Aster ZHIPUUSDT	+0.0574%	8h	95.160	−0.293%	$52K	$57K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZHIPU-USD.P	+0.0643%	1h	95.380	−0.063%	$33K	$25K	5x	as long as short
Binance ZHIPUUSDT	+0.0724%	4h	95.500	+0.063%	$22.8M	$67.9M	25x	as long as short
edgeX ZHIPUUSDC	+0.1026%	4h	94.834	−0.635%	$20K	$154K	10x	as long as short
tradeXYZ xyz:ZHIPU	+0.1032%	1h	95.317	−0.129%	$26.9M	$7.9M	10x	as long as short
Bybit ZHIPUUSDTlong	+0.1224%	8h	95.440	long leg	$348K	$1.5M	25x
Bitget ZHIPUUSDT	+0.1314%	8h	95.390	−0.052%	$1.7M	$4.3M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1719%	8h	95.450	+0.010%	$5.5M	$18.2M	25x	as long as short