Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0807%/8h= −88.4% APRpaid last 24h −0.185%

Price spread now: Gate against Binance+0.139%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.139%, 7d avg +0.093%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.045% dearer against Binance than usual: you sell high and buy low (spread +0.139% now, against its 7-day average of +0.093%): +$5 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 5 hours. Mind the row above: over the last 7 days funding on this pair paid +0.144%, 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 0.144% in total (about 7.5% 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	Binance ZHIPUUSDT	96.127	0.0847	pay 0.0424% / 4h	3h 06m	$22.5M	$63.7M	25x
Short	Gate ZHIPU_USDT	96.260	0.0040	get 0.0040% / 8h	3h 06m	$2.9M	$11.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. 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 BinancebpFee GatebpOrdersPrice spread, now +0.139%Rate

Funding earned: −$169.49
Price spread: +0.139% → +0.093%: $4.54
Slippage, 4 orders: −$24.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$214.66
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Gate: live order book, 2 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 Binance live order book, 6 min ago	2.60 bp	12.0 bp −$12	42.9 bp −$429	169.0 bp −$16.9K	doesn't fit
Sell Gate live order book, 2 min ago	2.08 bp	13.7 bp −$14	48.6 bp −$486	80.5 bp −$8,054	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	96.080	−0.048%	$1K	$848K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	96.130	+0.004%	$20K	$341K	20x	as long as short
Lighter ZHIPU	+0.0032%	1h	96.140	+0.014%	$101K	$20K	10x	as long as short
Gate ZHIPU_USDTshort	+0.0040%	8h	96.260	+0.139%	$2.9M	$11.9M	50x
SoDEX ZHIPU-USD	+0.0050%	1h	96.080	−0.048%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.085	−0.043%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.080	−0.048%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0184%	1h	96.059	−0.070%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0460%	8h	96.182	+0.058%	$50K	$51K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0596%	4h	96.100	−0.028%	$39K	$121K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZHIPU-USD.P	+0.0741%	1h	95.950	−0.184%	$36K	$20K	5x	as long as short
tradeXYZ xyz:ZHIPU	+0.0755%	1h	96.089	−0.039%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDTlong	+0.0847%	4h	96.127	long leg	$22.5M	$63.7M	25x
edgeX ZHIPUUSDC	+0.0993%	4h	96.026	−0.105%	$19K	$150K	10x	as long as short
Bitget ZHIPUUSDT	+0.1271%	8h	96.260	+0.139%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1285%	8h	96.160	+0.035%	$266K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1668%	8h	96.340	+0.222%	$5.7M	$17.2M	25x	as long as short