Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0651%/8h= +71.3% APRpaid last 24h −0.042%

Price spread now: Bitget against KuCoin+0.094%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1411.410% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.094%, 7d avg +0.014%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Bitget is 0.080% dearer against KuCoin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.111% in total (about 5.8% 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	KuCoin ZHIPUUSDTM	95.260	0.0954	pay 0.0477% / 4h	1h 25m	$38K	$119K	20x
Short	Bitget ZHIPUUSDT	95.350	0.1605	get 0.1605% / 8h	1h 25m	$1.7M	$4.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now +0.094%Rate

Funding earned: $136.71
Price spread: +0.094% → +0.014%: $8.04
Slippage, 4 orders: −$117.03
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $3.72
Costs to cover: 1.410%
Break-even: 6.8 days

Slippage from KuCoin: live order book, 9 min ago; Bitget: live order book, 3 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 KuCoin live order book, 9 min ago	12.51 bp	59.5 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.73 bp	17.9 bp −$18	35.0 bp −$350	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	95.390	+0.136%	$2K	$770K	10x	as long as short
Lighter ZHIPU	+0.0032%	1h	95.370	+0.115%	$100K	$17K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.270	+0.010%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.107	−0.160%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.330	+0.073%	$828	$1K	10x	as long as short
Gate ZHIPU_USDT	+0.0181%	8h	95.360	+0.105%	$3.2M	$11.9M	50x	as long as short
Aevo ZHIPU-PERP	+0.0240%	1h	95.329	+0.073%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0536%	1h	95.050	−0.220%	$33K	$23K	5x	as long as short
HTX ZHIPU-USDT	+0.0881%	4h	95.320	+0.063%	$21K	$350K	20x	as long as short
Aster ZHIPUUSDT	+0.0904%	8h	95.250	−0.010%	$53K	$54K	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	95.218	−0.044%	$26.8M	$7.8M	10x	as long as short
KuCoin ZHIPUUSDTMlong	+0.0954%	4h	95.260	long leg	$38K	$119K	20x
Binance ZHIPUUSDT	+0.1076%	4h	95.290	+0.031%	$22.5M	$66.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.1195%	4h	95.139	−0.127%	$20K	$153K	10x	as long as short
Bybit ZHIPUUSDT	+0.1490%	8h	95.350	+0.094%	$357K	$1.5M	25x	as long as short
Bitget ZHIPUUSDTshort	+0.1605%	8h	95.350	+0.094%	$1.7M	$4.3M	20x
OKX ZHIPU-USDT-SWAP	+0.1978%	8h	95.400	+0.147%	$5.4M	$18.5M	25x	as long as short