Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0537%/8h= +58.8% APRpaid last 24h +0.206%

Price spread now: tradeXYZ against SunX−0.021%7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$283as in the Price arb table

costs, in and out, $10k−$2772.769% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.474%+$47 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.021%, 7d avg +0.040%

Together, before fees+0.440%+ Points / potential airdroptradeXYZ: Active · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.061% cheaper against SunX than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.040%). If the spread goes back, that is −$6 on $10k: about 9 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.474% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZHIPU-USDT	94.670	0	get 0.0000% / 4h	2h 45m	$1K	$850K	10x
Short	tradeXYZ xyz:ZHIPU	94.650	0.0537	get 0.0067% / 1h	45m 48s	$26.5M	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against SunX. 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 SunXbpFee tradeXYZbpOrdersPrice spread, now −0.021%Rate

Funding earned: $112.8
Price spread: −0.021% → +0.040%: −$6.09
Slippage, 4 orders: −$250.94
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$170.24
Costs to cover: 2.769%
Break-even: 17.6 days

Slippage from SunX: live order book, 47 min ago; tradeXYZ: live order book, 4 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 SunX live order book, 47 min ago	31.14 bp	110.2 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	3.28 bp	13.0 bp −$13	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
Gate ZHIPU_USDT	0.0000%	8h	94.700	+0.032%	$2.9M	$11.7M	50x	as long as short
SunX ZHIPU-USDTlong	0.0000%	4h	94.670	long leg	$1K	$850K	10x
HTX ZHIPU-USDT	0.0000%	4h	94.480	−0.201%	$22K	$349K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	94.550	−0.127%	$100K	$20K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	94.420	−0.264%	$34K	$3K	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0050%	1h	94.830	+0.169%	$35K	$20K	5x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	94.264	−0.429%	$26K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	94.380	−0.306%	$820	$1K	10x	as long as short
Aevo ZHIPU-PERP	+0.0144%	1h	94.402	−0.283%	—	—	10x	as long as short
KuCoin ZHIPUUSDTM	+0.0334%	4h	94.350	−0.338%	$38K	$121K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZHIPUUSDT	+0.0421%	8h	94.495	−0.185%	$49K	$52K	20x	as long as short
Binance ZHIPUUSDT	+0.0507%	4h	94.788	+0.125%	$22.1M	$66.4M	25x	as long as short
tradeXYZ xyz:ZHIPUshort	+0.0537%	1h	94.650	−0.021%	$26.5M	$7.3M	10x
Bybit ZHIPUUSDT	+0.1053%	8h	94.750	+0.085%	$265K	$1.4M	25x	as long as short
Bitget ZHIPUUSDT	+0.1165%	8h	94.800	+0.137%	$1.7M	$4.2M	20x	as long as short
edgeX ZHIPUUSDC	+0.1516%	4h	94.335	−0.354%	$20K	$154K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1581%	8h	94.960	+0.306%	$5.5M	$17.8M	25x	as long as short