Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0431%/8h= +47.2% APRpaid last 24h −0.042%

Price spread now: Bitget against KuCoin+0.135%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1451.446% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.265%−$26 · spread now +0.135%, 7d avg +0.015%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Bitget is 0.121% dearer against KuCoin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.111% in total (about 5.8% 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	KuCoin ZHIPUUSDTM	96.040	0.0930	pay 0.0465% / 4h	3h 39m	$39K	$124K	20x
Short	Bitget ZHIPUUSDT	96.170	0.1361	get 0.1361% / 8h	3h 39m	$1.8M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now +0.135%Rate

Funding earned: $90.51
Price spread: +0.135% → +0.015%: $12.06
Slippage, 4 orders: −$120.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.04
Costs to cover: 1.446%
Break-even: 10.3 days

Slippage from KuCoin: live order book, 25 min ago; Bitget: 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 KuCoin live order book, 25 min ago	18.32 bp	55.0 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.61 bp	19.4 bp −$19	35.3 bp −$353	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	95.880	−0.167%	$1K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	95.950	−0.094%	$17K	$332K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	96.060	+0.021%	$101K	$20K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.950	−0.094%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDT	+0.0086%	8h	96.170	+0.135%	$2.9M	$11.8M	50x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.038	−0.002%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.960	−0.083%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0192%	1h	95.970	−0.073%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0557%	8h	95.900	−0.145%	$50K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0752%	1h	95.810	−0.239%	$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 ZHIPUUSDTMlong	+0.0930%	4h	96.040	long leg	$39K	$124K	20x
tradeXYZ xyz:ZHIPU	+0.1076%	1h	96.039	−0.001%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.1189%	4h	96.067	+0.028%	$22.5M	$63.3M	25x	as long as short
Bitget ZHIPUUSDTshort	+0.1361%	8h	96.170	+0.135%	$1.8M	$4.1M	20x
Bybit ZHIPUUSDT	+0.1547%	8h	96.040	0.000%	$271K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1777%	8h	96.250	+0.219%	$5.8M	$17.1M	25x	as long as short
edgeX ZHIPUUSDC	+0.1892%	4h	95.934	−0.111%	$19K	$150K	10x	as long as short