Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0830%/8h= −90.9% APRpaid last 24h −0.087%

Price spread now: Gate against KuCoin+0.073%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1391.392% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$16 on $10k

Price spread, last 4 days (all we have)−0.308%−$31 · spread now +0.073%, 7d avg +0.048%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.025% dearer against KuCoin than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of +0.048%): +$3 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.165%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.165% in total (about 8.6% 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	KuCoin ZHIPUUSDTM	96.060	0.0910	pay 0.0455% / 4h	3h 37m	$39K	$124K	20x
Short	Gate ZHIPU_USDT	96.130	0.0080	get 0.0080% / 8h	3h 37m	$2.9M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.073%Rate

Funding earned: −$174.3
Price spread: +0.073% → +0.048%: $2.52
Slippage, 4 orders: −$112.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$310.99
Costs to cover: 1.392%
Break-even: never at this rate

Slippage from KuCoin: live order book, 27 min ago; Gate: live order book, 1 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, 27 min ago	18.32 bp	55.0 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.64 bp	17.2 bp −$17	51.6 bp −$516	88.4 bp −$8,842	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	96.050	−0.010%	$1K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	96.080	+0.021%	$17K	$332K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	96.100	+0.042%	$101K	$20K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.040	−0.021%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDTshort	+0.0080%	8h	96.130	+0.073%	$2.9M	$11.8M	50x
Nado ZHIPU-PERP	+0.0100%	1h	96.082	+0.022%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.040	−0.021%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0192%	1h	96.048	−0.012%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0549%	8h	95.915	−0.151%	$50K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0754%	1h	95.810	−0.260%	$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	+0.0910%	4h	96.060	long leg	$39K	$124K	20x
tradeXYZ xyz:ZHIPU	+0.1064%	1h	96.074	+0.015%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.1179%	4h	96.020	−0.042%	$22.5M	$63.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1361%	8h	96.100	+0.042%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1532%	8h	96.100	+0.042%	$271K	$1.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.1694%	4h	96.110	+0.052%	$19K	$150K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1771%	8h	96.130	+0.073%	$5.8M	$17.1M	25x	as long as short