Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1367%/8h= +149.7% APRpaid last 24h +0.052%

Price spread now: Bitget against SunX+0.031%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$293as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2942.944% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.592%−$59 · spread now +0.031%, 7d avg −0.031%

Together, before fees−0.581%−$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Bitget is 0.062% dearer against SunX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% 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	SunX ZHIPU-USDT	98.260	0	get 0.0000% / 4h	1h 01m	$1K	$864K	10x
Short	Bitget ZHIPUUSDT	98.290	0.1367	get 0.1367% / 8h	5h 01m	$1.9M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now +0.031%Rate

Funding earned: $287.07
Price spread: +0.031% → −0.031%: $6.19
Slippage, 4 orders: −$274.41
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1.15
Costs to cover: 2.944%
Break-even: 7.0 days

Slippage from SunX: live order book, 51 min ago; Bitget: 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 SunX live order book, 51 min ago	31.72 bp	110.6 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	5.09 bp	22.4 bp −$22	58.4 bp −$584	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-USDTlong	0.0000%	4h	98.260	long leg	$1K	$864K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	98.020	−0.244%	$35K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	97.986	−0.279%	$27K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	98.020	−0.244%	$578	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0136%	1h	98.041	−0.222%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0427%	8h	98.400	+0.142%	$3.1M	$11.4M	50x	as long as short
Aster ZHIPUUSDT	+0.0588%	8h	98.187	−0.075%	$50K	$52K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1101%	1h	98.230	−0.031%	$37K	$21K	5x	as long as short
HTX ZHIPU-USDT	+0.1105%	4h	98.100	−0.163%	$18K	$324K	20x	as long as short
Lighter ZHIPU	+0.1352%	1h	98.190	−0.071%	$103K	$20K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZHIPUUSDTshort	+0.1367%	8h	98.290	+0.031%	$1.9M	$3.8M	20x
KuCoin ZHIPUUSDTM	+0.1520%	4h	98.120	−0.142%	$39K	$123K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1588%	8h	98.500	+0.244%	$5.4M	$15.7M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1740%	1h	98.115	−0.148%	$27.4M	$6.8M	10x	as long as short
Binance ZHIPUUSDT	+0.2241%	4h	98.236	−0.024%	$22.7M	$58.7M	25x	as long as short
Bybit ZHIPUUSDT	+0.2758%	8h	98.250	−0.010%	$365K	$1.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.2984%	4h	98.953	+0.705%	$19K	$150K	10x	as long as short