Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1745%/8h= −191.1% APRpaid last 24h −0.099%

Price spread now: tradeXYZ against edgeX+0.095%86s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$790.789% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.095%, 7d avg −0.001%

Together, before fees−0.134%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.096% dearer against edgeX than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of −0.001%): +$10 on $10k if it goes back. Holding the pair costs −$52 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.063% in total) that is about 11 days. The two prices were read 86 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.063% in total (about -3.3% 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	95.949	0.2343	pay 0.1171% / 4h	7m 54s	$19K	$150K	10x
Short	tradeXYZ xyz:ZHIPU	96.040	0.0597	get 0.0075% / 1h	7m 54s	$27.0M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$366.55
Price spread: +0.095% → −0.001%: $9.59
Slippage, 4 orders: −$51.93
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$435.89
Costs to cover: 0.789%
Break-even: never at this rate

Slippage from edgeX: live order book, 49 min ago; tradeXYZ: live order book, 10 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, 49 min ago	12.27 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	3.07 bp	14.5 bp −$14	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	95.820	−0.135%	$2K	$849K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.980	+0.032%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.987	+0.040%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.910	−0.041%	$565	$798	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0112%	1h	95.670	−0.291%	$36K	$20K	5x	as long as short
Gate ZHIPU_USDT	+0.0154%	8h	96.040	+0.095%	$3.0M	$11.8M	50x	as long as short
Aevo ZHIPU-PERP	+0.0184%	1h	95.950	+0.001%	—	—	10x	as long as short
Lighter ZHIPU	+0.0208%	1h	95.990	+0.043%	$101K	$20K	10x	as long as short
HTX ZHIPU-USDT	+0.0451%	4h	95.880	−0.072%	$18K	$332K	20x	as long as short
tradeXYZ xyz:ZHIPUshort	+0.0597%	1h	96.040	+0.095%	$27.0M	$7.1M	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZHIPUUSDT	+0.0642%	8h	96.113	+0.171%	$49K	$51K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1108%	4h	96.040	+0.095%	$39K	$124K	20x	as long as short
Bitget ZHIPUUSDT	+0.1396%	8h	96.090	+0.147%	$1.9M	$4.0M	20x	as long as short
Binance ZHIPUUSDT	+0.1519%	4h	95.930	−0.020%	$22.5M	$62.2M	25x	as long as short
Bybit ZHIPUUSDT	+0.1771%	8h	96.020	+0.074%	$277K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1807%	8h	96.120	+0.178%	$5.8M	$16.7M	25x	as long as short
edgeX ZHIPUUSDClong	+0.2343%	4h	95.949	long leg	$19K	$150K	10x