Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0811%/8h= +88.8% APRpaid last 24h +0.087%

Price spread now: KuCoin against Gate−0.231%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1401.405% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$16 on $10k

Price spread, last 4 days (all we have)+0.400%+$40 · spread now −0.231%, 7d avg −0.044%

Together, before fees+0.235%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.187% cheaper against Gate than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of −0.044%). If the spread goes back, that is −$19 on $10k: about 18 hours of funding at the current rate (+$24 a day). Mind the row above: over the last 7 days funding on this pair cost −0.165%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.165% in total (about -8.6% 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	Gate ZHIPU_USDT	95.130	0.0187	pay 0.0187% / 8h	1h 16m	$3.2M	$11.9M	50x
Short	KuCoin ZHIPUUSDTM	94.910	0.0998	get 0.0499% / 4h	1h 16m	$38K	$119K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Gate. 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 GatebpFee KuCoinbpOrdersPrice spread, now −0.231%Rate

Funding earned: $170.31
Price spread: −0.231% → −0.044%: −$18.68
Slippage, 4 orders: −$113.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $11.15
Costs to cover: 1.405%
Break-even: 6.5 days

Slippage from Gate: live order book, 2 min ago; KuCoin: live order book, 18 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 Gate live order book, 2 min ago	6.31 bp	16.1 bp −$16	49.4 bp −$494	88.6 bp −$8,857	doesn't fit
Sell KuCoin live order book, 18 min ago	12.51 bp	48.1 bp −$48	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	95.160	+0.032%	$2K	$768K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.010	−0.126%	$34K	$3K	10x	as long as short
Lighter ZHIPU	+0.0088%	1h	95.060	−0.074%	$100K	$17K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	94.858	−0.286%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	94.970	−0.168%	$825	$1K	10x	as long as short
Gate ZHIPU_USDTlong	+0.0187%	8h	95.130	long leg	$3.2M	$11.9M	50x
Aevo ZHIPU-PERP	+0.0240%	1h	94.996	−0.141%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0559%	1h	94.810	−0.336%	$33K	$23K	5x	as long as short
HTX ZHIPU-USDT	+0.0867%	4h	95.010	−0.126%	$21K	$350K	20x	as long as short
Aster ZHIPUUSDT	+0.0918%	8h	94.970	−0.168%	$53K	$53K	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	+0.0934%	1h	95.007	−0.129%	$26.8M	$7.7M	10x	as long as short
KuCoin ZHIPUUSDTMshort	+0.0998%	4h	94.910	−0.231%	$38K	$119K	20x
Binance ZHIPUUSDT	+0.1093%	4h	94.980	−0.158%	$22.4M	$66.3M	25x	as long as short
Bybit ZHIPUUSDT	+0.1472%	8h	95.050	−0.084%	$356K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1619%	8h	94.990	−0.147%	$1.7M	$4.3M	20x	as long as short
edgeX ZHIPUUSDC	+0.1891%	4h	95.041	−0.094%	$20K	$154K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1986%	8h	95.000	−0.137%	$5.4M	$18.4M	25x	as long as short