Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h +0.076%

Price spread now: Lighter against Gate−0.217%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$920.922% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.278%+$28 · spread now −0.217%, 7d avg −0.055%

Together, before fees+0.349%+ Points / potential airdropLighter: Season 3 · farm board+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.162% cheaper against Gate than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.055%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZHIPU_USDT	96.630	0.0180	pay 0.0180% / 8h	1h 50m	$3.2M	$11.7M	50x
Short	Lighter ZHIPU	96.420	0.0072	get 0.0009% / 1h	50m 32s	$101K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.217%Rate

Funding earned: −$22.68
Price spread: −0.217% → −0.055%: −$16.19
Slippage, 4 orders: −$77.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$131.07
Costs to cover: 0.922%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 30 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 Gate live order book, 3 min ago	4.66 bp	15.2 bp −$15	49.9 bp −$499	81.1 bp −$8,111	doesn't fit
Sell Lighter live order book, 30 min ago	27.08 bp	28.8 bp −$29	56.8 bp −$568	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	96.530	−0.103%	$2K	$842K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.500	−0.135%	$34K	$3K	10x	as long as short
Lighter ZHIPUshort	+0.0072%	1h	96.420	−0.217%	$101K	$17K	10x
Nado ZHIPU-PERP	+0.0100%	1h	96.244	−0.400%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.590	−0.041%	$839	$1K	10x	as long as short
Gate ZHIPU_USDTlong	+0.0180%	8h	96.630	long leg	$3.2M	$11.7M	50x
Aevo ZHIPU-PERP	+0.0280%	1h	96.594	−0.037%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0931%	8h	96.450	−0.186%	$53K	$58K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1012%	4h	96.530	−0.103%	$39K	$120K	20x	as long as short
Binance ZHIPUUSDT	+0.1231%	4h	96.534	−0.099%	$22.9M	$68.9M	25x	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	+0.1249%	4h	96.590	−0.041%	$21K	$352K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1322%	1h	96.360	−0.279%	$33K	$25K	5x	as long as short
Bybit ZHIPUUSDT	+0.1615%	8h	96.540	−0.093%	$361K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1635%	8h	96.530	−0.103%	$1.7M	$4.4M	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.1711%	1h	96.482	−0.153%	$27.2M	$8.0M	10x	as long as short
edgeX ZHIPUUSDC	+0.1850%	4h	96.456	−0.180%	$21K	$154K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.2036%	8h	96.580	−0.052%	$5.5M	$18.8M	25x	as long as short