Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0807%/8h= +88.3% APRpaid last 24h −0.117%

Price spread now: Bybit against tradeXYZ+0.015%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1071.072% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.386%−$39 on $10k

Price spread, last 7 days+0.045%+$5 · spread now +0.015%, 7d avg −0.013%

Together, before fees−0.341%+ Points / potential airdroptradeXYZ: Active · farm board−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Bybit is 0.028% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.386%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.386% in total (about -20.1% 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	tradeXYZ xyz:ZHIPU	95.106	0.0542	pay 0.0068% / 1h	31m 27s	$26.9M	$7.3M	10x
Short	Bybit ZHIPUUSDT	95.120	0.1349	get 0.1349% / 8h	31m 27s	$355K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.015%Rate

Funding earned: $169.42
Price spread: +0.015% → −0.013%: $2.82
Slippage, 4 orders: −$78.22
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $65.02
Costs to cover: 1.072%
Break-even: 4.3 days

Slippage from tradeXYZ: live order book, 8 min ago; Bybit: live order book, 4 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 tradeXYZ live order book, 8 min ago	1.10 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.79 bp	45.6 bp −$46	175.3 bp −$1,753	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	−0.017%	$1K	$514K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	95.140	+0.036%	$34K	$3K	10x	as long as short
Lighter ZHIPU	+0.0056%	1h	95.190	+0.088%	$100K	$16K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.108	+0.002%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.140	+0.036%	$827	$798	10x	as long as short
Gate ZHIPU_USDT	+0.0201%	8h	95.190	+0.088%	$3.2M	$10.1M	50x	as long as short
Aevo ZHIPU-PERP	+0.0216%	1h	95.146	+0.042%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0240%	1h	94.950	−0.164%	$33K	$22K	5x	as long as short
tradeXYZ xyz:ZHIPUlong	+0.0542%	1h	95.106	long leg	$26.9M	$7.3M	10x
HTX ZHIPU-USDT	+0.0602%	4h	95.160	+0.057%	$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	95.148	+0.045%	$53K	$41K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0998%	4h	95.200	+0.099%	$38K	$112K	20x	as long as short
Binance ZHIPUUSDT	+0.1038%	4h	95.140	+0.036%	$22.3M	$58.1M	25x	as long as short
Bybit ZHIPUUSDTshort	+0.1349%	8h	95.120	+0.015%	$355K	$1.3M	25x
Bitget ZHIPUUSDT	+0.1529%	8h	95.160	+0.057%	$1.7M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1900%	8h	95.190	+0.088%	$5.3M	$16.0M	25x	as long as short
edgeX ZHIPUUSDC	+0.2060%	4h	94.985	−0.127%	$20K	$154K	10x	as long as short