Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0627%/8h= −68.7% APRpaid last 24h −0.087%

Price spread now: Gate against KuCoin+0.104%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1471.466% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$16 on $10k

Price spread, last 4 days (all we have)−0.322%−$32 · spread now +0.104%, 7d avg +0.043%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.061% dearer against KuCoin than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.043%): +$6 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.165%, 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 0.165% in total (about 8.6% 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	KuCoin ZHIPUUSDTM	96.230	0.0734	pay 0.0367% / 4h	2h 08m	$39K	$121K	20x
Short	Gate ZHIPU_USDT	96.330	0.0107	get 0.0107% / 8h	2h 08m	$3.2M	$12.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.104%Rate

Funding earned: −$131.67
Price spread: +0.104% → +0.043%: $6.12
Slippage, 4 orders: −$119.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$272.17
Costs to cover: 1.466%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; Gate: live order book, 5 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 KuCoin live order book, 41 min ago	13.25 bp	63.7 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.07 bp	15.2 bp −$15	47.7 bp −$477	80.6 bp −$8,056	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	96.500	+0.281%	$1K	$850K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.150	−0.083%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.891	−0.352%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.160	−0.073%	$835	$1K	10x	as long as short
Gate ZHIPU_USDTshort	+0.0107%	8h	96.330	+0.104%	$3.2M	$12.5M	50x
Aevo ZHIPU-PERP	+0.0224%	1h	96.191	−0.040%	—	—	10x	as long as short
Lighter ZHIPU	+0.0504%	1h	96.120	−0.114%	$101K	$20K	10x	as long as short
KuCoin ZHIPUUSDTMlong	+0.0734%	4h	96.230	long leg	$39K	$121K	20x
Aster ZHIPUUSDT	+0.0761%	8h	96.329	+0.103%	$53K	$57K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0858%	1h	96.790	+0.582%	$33K	$25K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ZHIPU-USDT	+0.0931%	4h	96.200	−0.031%	$20K	$353K	20x	as long as short
Binance ZHIPUUSDT	+0.1000%	4h	96.100	−0.135%	$22.8M	$69.0M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1266%	1h	96.085	−0.151%	$27.1M	$8.0M	10x	as long as short
Bybit ZHIPUUSDT	+0.1434%	8h	96.240	+0.010%	$358K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1482%	8h	96.160	−0.073%	$1.7M	$4.3M	20x	as long as short
edgeX ZHIPUUSDC	+0.1877%	4h	96.808	+0.600%	$21K	$153K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1890%	8h	96.230	0.000%	$5.6M	$18.6M	25x	as long as short