Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0973%/8h= +106.6% APRpaid last 24h +0.012%

Price spread now: OKX against HTX+0.073%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$870.866% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.073%, 7d avg +0.092%

Together, before fees+0.089%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.092%, so right now this pair is about funding alone: +$29 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.220% in total (about 11.5% 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	HTX ZHIPU-USDT	96.390	0.0910	pay 0.0455% / 4h	2h 09m	$20K	$353K	20x
Short	OKX ZHIPU-USDT-SWAP	96.460	0.1883	get 0.1883% / 8h	2h 09m	$5.6M	$18.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against HTX. 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 HTXbpFee OKXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $204.36
Price spread: +0.073% → +0.092%: −$1.94
Slippage, 4 orders: −$64.64
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $115.77
Costs to cover: 0.866%
Break-even: 3.0 days

Slippage from HTX: live order book, 38 min ago; OKX: 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 HTX live order book, 38 min ago	9.01 bp	15.0 bp −$15	30.2 bp −$302	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.55 bp	14.1 bp −$14	101.8 bp −$1,018	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	96.610	+0.228%	$1K	$849K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.350	−0.041%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.082	−0.320%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.410	+0.021%	$838	$1K	10x	as long as short
Gate ZHIPU_USDT	+0.0103%	8h	96.450	+0.062%	$3.2M	$12.5M	50x	as long as short
Aevo ZHIPU-PERP	+0.0224%	1h	96.432	+0.043%	—	—	10x	as long as short
Lighter ZHIPU	+0.0504%	1h	96.220	−0.176%	$101K	$20K	10x	as long as short
KuCoin ZHIPUUSDTM	+0.0718%	4h	96.380	−0.010%	$39K	$121K	20x	as long as short
Aster ZHIPUUSDT	+0.0761%	8h	96.510	+0.124%	$53K	$57K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0845%	1h	96.790	+0.415%	$33K	$25K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ZHIPU-USDTlong	+0.0910%	4h	96.390	long leg	$20K	$353K	20x
Binance ZHIPUUSDT	+0.0988%	4h	96.330	−0.062%	$22.8M	$68.9M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1262%	1h	96.358	−0.033%	$27.2M	$8.0M	10x	as long as short
Bybit ZHIPUUSDT	+0.1424%	8h	96.450	+0.062%	$359K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1473%	8h	96.400	+0.010%	$1.7M	$4.3M	20x	as long as short
edgeX ZHIPUUSDC	+0.1877%	4h	96.808	+0.433%	$21K	$153K	10x	as long as short
OKX ZHIPU-USDT-SWAPshort	+0.1883%	8h	96.460	+0.073%	$5.6M	$18.6M	25x