Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0345%/8h= −37.8% APRpaid last 24h +0.088%

Price spread now: Binance against Bybit0.000%7-day average −0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$1000.997% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 7 days−0.019%−$2 · spread now 0.000%, 7d avg −0.094%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.094% dearer against Bybit than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.094%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.150% in total) that is about 4.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.150% in total (about -7.8% 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	Bybit ZHIPUUSDT	95.940	0.1569	pay 0.1569% / 8h	3h 40m	$271K	$1.4M	25x
Short	Binance ZHIPUUSDT	95.940	0.1223	get 0.0612% / 4h	3h 40m	$22.5M	$63.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$72.5
Price spread: 0.000% → −0.094%: $9.36
Slippage, 4 orders: −$78.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$162.89
Costs to cover: 0.997%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 16 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 Bybit live order book, 5 min ago	4.16 bp	36.7 bp −$37	209.1 bp −$2,091	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	3.12 bp	11.0 bp −$11	33.1 bp −$331	132.4 bp −$13.2K	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	95.860	−0.083%	$2K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	95.930	−0.010%	$17K	$332K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	96.030	+0.094%	$101K	$20K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.890	−0.052%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDT	+0.0088%	8h	96.000	+0.063%	$2.9M	$11.8M	50x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.970	+0.031%	$26K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.900	−0.042%	$565	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0192%	1h	95.914	−0.028%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0564%	8h	95.895	−0.047%	$49K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0765%	1h	95.810	−0.136%	$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	+0.0946%	4h	95.970	+0.031%	$39K	$125K	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.1109%	1h	95.958	+0.019%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDTshort	+0.1223%	4h	95.940	0.000%	$22.5M	$63.4M	25x
Bitget ZHIPUUSDT	+0.1370%	8h	96.020	+0.083%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDTlong	+0.1569%	8h	95.940	long leg	$271K	$1.4M	25x
edgeX ZHIPUUSDC	+0.1683%	4h	95.958	+0.019%	$19K	$150K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1779%	8h	96.110	+0.177%	$5.8M	$17.0M	25x	as long as short