Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0815%/8h= +89.3% APRpaid last 24h −0.117%

Price spread now: Bybit against tradeXYZ+0.041%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$990.995% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.386%−$39 on $10k

Price spread, last 7 days+0.019%+$2 · spread now +0.041%, 7d avg −0.013%

Together, before fees−0.367%+ Points / potential airdroptradeXYZ: Active · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Bybit is 0.055% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.386%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.386% in total (about -20.1% 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	tradeXYZ xyz:ZHIPU	95.091	0.0528	pay 0.0066% / 1h	30m 32s	$26.9M	$7.3M	10x
Short	Bybit ZHIPUUSDT	95.130	0.1343	get 0.1343% / 8h	30m 32s	$355K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.041%Rate

Funding earned: $171.17
Price spread: +0.041% → −0.013%: $5.45
Slippage, 4 orders: −$70.46
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $77.16
Costs to cover: 0.995%
Break-even: 3.8 days

Slippage from tradeXYZ: live order book, 9 min ago; Bybit: live order book, just now.

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 tradeXYZ live order book, 9 min ago	1.10 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, just now	2.63 bp	27.0 bp −$27	210.7 bp −$2,107	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	95.090	−0.001%	$1K	$508K	10x	as long as short
Lighter ZHIPU	+0.0048%	1h	95.190	+0.104%	$100K	$16K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.130	+0.041%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.108	+0.018%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.110	+0.020%	$826	$798	10x	as long as short
Gate ZHIPU_USDT	+0.0200%	8h	95.200	+0.115%	$3.2M	$10.1M	50x	as long as short
Aevo ZHIPU-PERP	+0.0216%	1h	95.156	+0.068%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0227%	1h	94.950	−0.148%	$33K	$22K	5x	as long as short
tradeXYZ xyz:ZHIPUlong	+0.0528%	1h	95.091	long leg	$26.9M	$7.3M	10x
HTX ZHIPU-USDT	+0.0587%	4h	95.180	+0.094%	$20K	$350K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZHIPUUSDT	+0.0884%	8h	95.074	−0.018%	$53K	$41K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0988%	4h	95.150	+0.062%	$38K	$112K	20x	as long as short
Binance ZHIPUUSDT	+0.1033%	4h	95.083	−0.008%	$22.3M	$57.7M	25x	as long as short
Bybit ZHIPUUSDTshort	+0.1343%	8h	95.130	+0.041%	$355K	$1.3M	25x
Bitget ZHIPUUSDT	+0.1522%	8h	95.080	−0.012%	$1.7M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1891%	8h	95.170	+0.083%	$5.3M	$16.0M	25x	as long as short
edgeX ZHIPUUSDC	+0.2060%	4h	94.985	−0.111%	$20K	$154K	10x	as long as short