Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0903%/8h= +98.9% APRpaid last 24h −0.044%

Price spread now: OKX against KuCoin+0.042%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1311.314% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.042%, 7d avg +0.038%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$27 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.160% in total (about 8.3% 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	95.180	0.0988	pay 0.0494% / 4h	31m 14s	$38K	$112K	20x
Short	OKX ZHIPU-USDT-SWAP	95.220	0.1891	get 0.1891% / 8h	31m 14s	$5.3M	$16.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $189.71
Price spread: +0.042% → +0.038%: $0.4
Slippage, 4 orders: −$109.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $58.69
Costs to cover: 1.314%
Break-even: 4.8 days

Slippage from KuCoin: live order book, 63 min ago; OKX: 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 KuCoin live order book, 63 min ago	12.51 bp	59.5 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.53 bp	11.3 bp −$11	63.3 bp −$633	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	−0.095%	$1K	$508K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.130	−0.053%	$34K	$3K	10x	as long as short
Lighter ZHIPU	+0.0056%	1h	95.190	+0.011%	$100K	$16K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.108	−0.076%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.110	−0.074%	$826	$798	10x	as long as short
Gate ZHIPU_USDT	+0.0201%	8h	95.180	0.000%	$3.2M	$10.1M	50x	as long as short
Aevo ZHIPU-PERP	+0.0216%	1h	95.156	−0.026%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0240%	1h	94.950	−0.242%	$33K	$22K	5x	as long as short
tradeXYZ xyz:ZHIPU	+0.0535%	1h	95.123	−0.060%	$26.9M	$7.3M	10x	as long as short
HTX ZHIPU-USDT	+0.0587%	4h	95.180	0.000%	$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	+0.0889%	8h	95.136	−0.046%	$53K	$41K	20x	as long as short
KuCoin ZHIPUUSDTMlong	+0.0988%	4h	95.180	long leg	$38K	$112K	20x
Binance ZHIPUUSDT	+0.1038%	4h	95.126	−0.057%	$22.3M	$58.0M	25x	as long as short
Bybit ZHIPUUSDT	+0.1349%	8h	95.120	−0.063%	$355K	$1.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1529%	8h	95.160	−0.021%	$1.7M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAPshort	+0.1891%	8h	95.220	+0.042%	$5.3M	$16.0M	25x
edgeX ZHIPUUSDC	+0.2060%	4h	94.985	−0.205%	$20K	$154K	10x	as long as short