Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1741%/8h= −190.6% APRpaid last 24h −0.082%

Price spread now: HTX against Bybit−0.129%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1101.101% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.489%+$49 · spread now −0.129%, 7d avg −0.094%

Together, before fees+0.304%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and HTX is 0.035% cheaper against Bybit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% 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	100.76	0.2989	pay 0.2989% / 8h	5h 23m	$373K	$1.3M	25x
Short	HTX ZHIPU-USDT	100.63	0.1249	get 0.0624% / 4h	1h 23m	$18K	$321K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$365.51
Price spread: −0.129% → −0.094%: −$3.52
Slippage, 4 orders: −$87.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$479.16
Costs to cover: 1.101%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: live order book, 39 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, 3 min ago	4.49 bp	39.9 bp −$40	77.8 bp −$778	doesn't fit	doesn't fit
Sell HTX live order book, 39 min ago	6.43 bp	17.5 bp −$18	44.0 bp −$440	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	100.95	+0.189%	$2K	$922K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	100.15	−0.607%	$28K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	100.58	−0.179%	$52	$266	10x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	100.67	−0.090%	—	—	10x	as long as short
SoDEX ZHIPU-USD	+0.0110%	1h	100.64	−0.119%	$36K	$3K	10x	as long as short
Aster ZHIPUUSDT	+0.0447%	8h	100.19	−0.565%	$52K	$53K	20x	as long as short
Gate ZHIPU_USDT	+0.0478%	8h	100.68	−0.079%	$3.3M	$10.8M	50x	as long as short
Bitget ZHIPUUSDT	+0.1227%	8h	100.66	−0.099%	$2.0M	$3.7M	20x	as long as short
HTX ZHIPU-USDTshort	+0.1249%	4h	100.63	−0.129%	$18K	$321K	20x
Ondo Perps ZHIPU-USD.P	+0.1315%	1h	100.39	−0.367%	$36K	$18K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZHIPU-USDT-SWAP	+0.1405%	8h	100.69	−0.069%	$5.5M	$15.8M	25x	as long as short
KuCoin ZHIPUUSDTM	+0.1424%	4h	100.42	−0.337%	$40K	$121K	20x	as long as short
Lighter ZHIPU	+0.1504%	1h	100.42	−0.337%	$106K	$20K	10x	as long as short
tradeXYZ xyz:ZHIPU	+0.2077%	1h	100.52	−0.238%	$28.4M	$6.7M	10x	as long as short
Binance ZHIPUUSDT	+0.2259%	4h	100.57	−0.189%	$23.5M	$57.2M	25x	as long as short
edgeX ZHIPUUSDC	+0.2499%	4h	100.22	−0.538%	$20K	$150K	10x	as long as short
Bybit ZHIPUUSDTlong	+0.2989%	8h	100.76	long leg	$373K	$1.3M	25x