Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1303%/8h= +142.6% APRpaid last 24h +0.066%

Price spread now: Bybit against HTX0.000%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1041.042% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now 0.000%, 7d avg +0.088%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.088% cheaper against HTX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.088%). If the spread goes back, that is −$9 on $10k: about 5 hours of funding at the current rate (+$39 a day). At the pace of the last 7 days (+0.231% in total) that is about 2.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.231% in total (about 12.1% 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	HTX ZHIPU-USDT	96.090	0.0086	pay 0.0043% / 4h	3h 15m	$19K	$336K	20x
Short	Bybit ZHIPUUSDT	96.090	0.1389	get 0.1389% / 8h	3h 15m	$266K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $273.53
Price spread: 0.000% → +0.088%: −$8.8
Slippage, 4 orders: −$81.25
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $160.47
Costs to cover: 1.042%
Break-even: 2.9 days

Slippage from HTX: live order book, 37 min ago; Bybit: 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 HTX live order book, 37 min ago	5.74 bp	12.4 bp −$12	29.5 bp −$295	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.64 bp	34.5 bp −$34	259.5 bp −$2,595	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	96.010	−0.083%	$2K	$847K	10x	as long as short
Lighter ZHIPU	+0.0032%	1h	96.060	−0.031%	$101K	$20K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.020	−0.073%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDT	+0.0052%	8h	96.110	+0.021%	$2.9M	$11.9M	50x	as long as short
HTX ZHIPU-USDTlong	+0.0086%	4h	96.090	long leg	$19K	$336K	20x
Nado ZHIPU-PERP	+0.0100%	1h	96.036	−0.057%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.020	−0.073%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0200%	1h	95.996	−0.097%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0485%	8h	96.012	−0.081%	$50K	$51K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0698%	4h	96.030	−0.062%	$39K	$122K	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	+0.0789%	1h	95.890	−0.208%	$36K	$20K	5x	as long as short
tradeXYZ xyz:ZHIPU	+0.0881%	1h	96.020	−0.073%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.0984%	4h	96.050	−0.042%	$22.5M	$63.7M	25x	as long as short
Bitget ZHIPUUSDT	+0.1321%	8h	96.120	+0.031%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDTshort	+0.1389%	8h	96.090	0.000%	$266K	$1.4M	25x
edgeX ZHIPUUSDC	+0.1675%	4h	96.068	−0.023%	$19K	$151K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1711%	8h	96.140	+0.052%	$5.7M	$17.2M	25x	as long as short