Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1930%/8h= −211.3% APRpaid last 24h −0.193%

Price spread now: Bybit against edgeX−0.021%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$273as in the Price arb table

costs, in and out, $10k−$2742.742% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.500%−$50 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.021%, 7d avg −0.036%

Together, before fees−0.457%+ Points / potential airdropedgeX: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: −$58 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 -0.500% in total (about -26.1% 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	edgeX ZHIPUUSDC	93.930	0.1930	pay 0.0965% / 4h	3h 30m	$20K	$152K	10x
Short	Bybit ZHIPUUSDT	93.910	0	get 0.0000% / 8h	7h 30m	$350K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$405.31
Price spread: −0.021% → −0.036%: $1.42
Slippage, 4 orders: −$254.24
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$678.13
Costs to cover: 2.742%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Bybit: live order book, 5 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 edgeX live order book, 1 min ago	14.40 bp	102.1 bp −$102	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	5.31 bp	40.4 bp −$40	207.1 bp −$2,071	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
Bybit ZHIPUUSDTshort	0.0000%	8h	93.910	−0.021%	$350K	$1.2M	25x
Gate ZHIPU_USDT	0.0000%	8h	93.960	+0.032%	$3.2M	$10.0M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	93.830	−0.107%	$2K	$396K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	93.880	−0.053%	$20K	$346K	20x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	93.860	−0.075%	$33K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	93.884	−0.049%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	93.870	−0.064%	$816	$798	10x	as long as short
Lighter ZHIPU	+0.0136%	1h	93.920	−0.011%	$99K	$16K	10x	as long as short
tradeXYZ xyz:ZHIPU	+0.0171%	1h	93.866	−0.068%	$26.4M	$6.9M	10x	as long as short
Aevo ZHIPU-PERP	+0.0176%	1h	93.883	−0.050%	—	—	10x	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	+0.0583%	1h	93.710	−0.234%	$31K	$19K	5x	as long as short
Aster ZHIPUUSDT	+0.0680%	8h	94.350	+0.447%	$53K	$33K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0766%	4h	93.910	−0.021%	$39K	$168K	20x	as long as short
Binance ZHIPUUSDT	+0.0842%	4h	93.910	−0.021%	$21.9M	$55.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1321%	8h	93.960	+0.032%	$1.6M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1735%	8h	94.060	+0.138%	$5.1M	$15.0M	25x	as long as short
edgeX ZHIPUUSDClong	+0.1930%	4h	93.930	long leg	$20K	$152K	10x