Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0660%/8h= −72.2% APRpaid last 24h −0.161%

Price spread now: Bybit against Ondo Perps+0.255%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.255% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.255% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ZHIPU-USD.P	105.71	0.0964	pay 0.0120% / 1h	27m 05s	$37K	$22K	5x
Short	Bybit ZHIPUUSDT	105.98	0.0304	get 0.0304% / 8h	7h 27m	$424K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Ondo Perps. 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 Ondo PerpsbpFee BybitbpOrdersPrice spread, now +0.255%Rate

Funding earned: −$138.5
Price spread: +0.255% → 0.000%: $25.54
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$128.96
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.89 bp	43.1 bp −$43	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aster ZHIPUUSDT	0.0000%	8h	105.56	−0.143%	$54K	$51K	20x	as long as short
Gate ZHIPU_USDT	0.0000%	8h	105.94	+0.218%	$2.9M	$13.1M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	105.87	+0.151%	$1K	$1.2M	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	105.81	+0.095%	$19K	$314K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	105.76	+0.047%	$112K	$19K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	105.72	+0.009%	$38K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	105.80	+0.081%	$23K	$20	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	105.76	+0.047%	$41K	$128K	20x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	105.71	+0.004%	—	—	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.0140%	8h	106.04	+0.312%	$5.0M	$18.6M	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZHIPU_USDC_mythos	+0.0143%	8h	105.71	0.000%	$54	$266	10x	as long as short
Bitget ZHIPUUSDT	+0.0166%	8h	105.87	+0.151%	$1.7M	$4.5M	20x	as long as short
Bybit ZHIPUUSDTshort	+0.0304%	8h	105.98	+0.255%	$424K	$1.4M	25x
tradeXYZ xyz:ZHIPU	+0.0332%	1h	105.82	+0.104%	$29.0M	$7.9M	10x	as long as short
Binance ZHIPUUSDT	+0.0485%	4h	105.79	+0.079%	$21.2M	$56.9M	25x	as long as short
edgeX ZHIPUUSDC	+0.0671%	4h	105.82	+0.101%	$21K	$150K	10x	as long as short
Ondo Perps ZHIPU-USD.Plong	+0.0964%	1h	105.71	long leg	$37K	$22K	5x