Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0950%/8h= −104.1% APRpaid last 24h −0.031%

Price spread now: Gate against HTX+0.115%50s7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.671% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$22 on $10k

Price spread, last 4 days (all we have)−0.164%−$16 · spread now +0.115%, 7d avg +0.103%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.103%, so right now this pair is about funding alone: −$29 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.225%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.225% in total (about 11.7% 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	95.900	0.1132	pay 0.0566% / 4h	1h 42m	$21K	$352K	20x
Short	Gate ZHIPU_USDT	96.010	0.0182	get 0.0182% / 8h	1h 42m	$3.2M	$11.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.115%Rate

Funding earned: −$199.57
Price spread: +0.115% → +0.103%: $1.15
Slippage, 4 orders: −$40.11
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$265.53
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from HTX: live order book, just now; 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 HTX live order book, just now	5.21 bp	13.2 bp −$13	33.9 bp −$339	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	6.26 bp	17.4 bp −$17	56.2 bp −$562	83.5 bp −$8,347	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	95.980	+0.083%	$1K	$792K	10x	as long as short
Lighter ZHIPU	+0.0032%	1h	95.980	+0.083%	$101K	$17K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.720	−0.188%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.832	−0.071%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.930	+0.031%	$833	$1K	10x	as long as short
Gate ZHIPU_USDTshort	+0.0182%	8h	96.010	+0.115%	$3.2M	$11.7M	50x
Aevo ZHIPU-PERP	+0.0280%	1h	95.971	+0.074%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0826%	1h	95.730	−0.177%	$33K	$23K	5x	as long as short
Aster ZHIPUUSDT	+0.0933%	8h	96.096	+0.204%	$53K	$58K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0996%	4h	95.950	+0.052%	$38K	$119K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ZHIPU-USDTlong	+0.1132%	4h	95.900	long leg	$21K	$352K	20x
Binance ZHIPUUSDT	+0.1184%	4h	95.924	+0.025%	$22.7M	$66.7M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1246%	1h	95.906	+0.006%	$27.0M	$8.0M	10x	as long as short
Bybit ZHIPUUSDT	+0.1586%	8h	95.940	+0.042%	$359K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1630%	8h	95.940	+0.042%	$1.7M	$4.3M	20x	as long as short
edgeX ZHIPUUSDC	+0.1797%	4h	95.835	−0.068%	$20K	$155K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.2017%	8h	96.010	+0.115%	$5.4M	$18.6M	25x	as long as short