Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.007%

Price spread now: SunX against Gate−0.187%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$281as in the Funding arb table

Net, price: spread back to 7d avg − costs−$292as in the Price arb table

costs, in and out, $10k−$2752.746% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.374%+$37 · spread now −0.187%, 7d avg −0.009%

Together, before fees+0.309%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.178% cheaper against Gate than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZHIPU_USDT	96.210	0.0102	pay 0.0102% / 8h	3h 46m	$2.9M	$11.8M	50x
Short	SunX ZHIPU-USDT	96.030	0	get 0.0000% / 4h	3h 46m	$1K	$851K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.187%Rate

Funding earned: −$21.42
Price spread: −0.187% → −0.009%: −$17.82
Slippage, 4 orders: −$251.55
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$313.79
Costs to cover: 2.746%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; SunX: live order book, 56 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	4.15 bp	16.5 bp −$17	49.7 bp −$497	81.8 bp −$8,184	doesn't fit
Sell SunX live order book, 56 min ago	16.46 bp	147.7 bp −$148	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-USDTshort	0.0000%	4h	96.030	−0.187%	$1K	$851K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	96.110	−0.104%	$34K	$3K	10x	as long as short
Lighter ZHIPU	+0.0096%	1h	96.190	−0.021%	$101K	$20K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.208	−0.002%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.100	−0.114%	$567	$798	10x	as long as short
Gate ZHIPU_USDTlong	+0.0102%	8h	96.210	long leg	$2.9M	$11.8M	50x
Aevo ZHIPU-PERP	+0.0192%	1h	96.100	−0.115%	—	—	10x	as long as short
HTX ZHIPU-USDT	+0.0522%	4h	96.130	−0.083%	$17K	$332K	20x	as long as short
Aster ZHIPUUSDT	+0.0578%	8h	95.877	−0.346%	$49K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0814%	1h	96.070	−0.146%	$36K	$20K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0992%	4h	96.150	−0.062%	$39K	$125K	20x	as long as short
Binance ZHIPUUSDT	+0.1268%	4h	96.118	−0.096%	$22.6M	$63.2M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1337%	1h	96.186	−0.025%	$27.0M	$7.2M	10x	as long as short
Bitget ZHIPUUSDT	+0.1379%	8h	96.160	−0.052%	$1.9M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1608%	8h	96.080	−0.135%	$272K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1801%	8h	96.270	+0.062%	$5.8M	$17.0M	25x	as long as short
edgeX ZHIPUUSDC	+0.1854%	4h	96.237	+0.028%	$19K	$151K	10x	as long as short