Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.022%

Price spread now: KuCoin against OKX−0.426%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$261as in the Price arb table

costs, in and out, $10k−$2222.224% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.457%+$46 · spread now −0.426%, 7d avg −0.040%

Together, before fees+0.291%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.386% cheaper against OKX than usual: you would sell low and buy high (spread −0.426% now, against its 7-day average of −0.040%). If the spread goes back, that is −$39 on $10k: about 4 months of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.166%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZHIPU-USDT-SWAP	100.94	0.1396	pay 0.1396% / 8h	5h 23m	$5.5M	$15.8M	25x
Short	KuCoin ZHIPUUSDTM	100.51	0.1408	get 0.0704% / 4h	1h 23m	$40K	$121K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now −0.426%Rate

Funding earned: $2.42
Price spread: −0.426% → −0.040%: −$38.63
Slippage, 4 orders: −$200.37
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$258.58
Costs to cover: 2.224%
Break-even: 755.1 days

Slippage from OKX: live order book, 5 min ago; KuCoin: live order book, 65 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 OKX live order book, 5 min ago	0.50 bp	14.2 bp −$14	54.1 bp −$541	doesn't fit	doesn't fit
Sell KuCoin live order book, 65 min ago	18.91 bp	77.2 bp −$77	doesn't fit	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	100.83	−0.109%	$2K	$922K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	100.02	−0.911%	$28K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	100.66	−0.277%	$52	$266	10x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	100.75	−0.184%	—	—	10x	as long as short
SoDEX ZHIPU-USD	+0.0124%	1h	100.73	−0.208%	$36K	$3K	10x	as long as short
Aster ZHIPUUSDT	+0.0447%	8h	100.41	−0.521%	$52K	$53K	20x	as long as short
Gate ZHIPU_USDT	+0.0478%	8h	100.82	−0.119%	$3.3M	$10.8M	50x	as long as short
Bitget ZHIPUUSDT	+0.1227%	8h	100.81	−0.129%	$2.0M	$3.7M	20x	as long as short
HTX ZHIPU-USDT	+0.1246%	4h	100.64	−0.297%	$18K	$321K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1315%	1h	100.39	−0.545%	$36K	$18K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZHIPU-USDT-SWAPlong	+0.1396%	8h	100.94	long leg	$5.5M	$15.8M	25x
KuCoin ZHIPUUSDTMshort	+0.1408%	4h	100.51	−0.426%	$40K	$121K	20x
Lighter ZHIPU	+0.1504%	1h	100.92	−0.020%	$106K	$20K	10x	as long as short
tradeXYZ xyz:ZHIPU	+0.2088%	1h	100.85	−0.089%	$28.5M	$6.6M	10x	as long as short
Binance ZHIPUUSDT	+0.2259%	4h	100.82	−0.119%	$23.5M	$57.1M	25x	as long as short
edgeX ZHIPUUSDC	+0.2655%	4h	100.16	−0.771%	$20K	$149K	10x	as long as short
Bybit ZHIPUUSDT	+0.2989%	8h	100.74	−0.198%	$374K	$1.3M	25x	as long as short