Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.071%

Price spread now: Gate against Lighter+0.083%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$910.906% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.083%, 7d avg +0.051%

Together, before fees−0.244%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.032% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.051%. Mind the row above: over the last 7 days funding on this pair cost −0.098%, 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	Lighter ZHIPU	96.180	0.0072	pay 0.0009% / 1h	47m 38s	$101K	$20K	10x
Short	Gate ZHIPU_USDT	96.260	0.0102	get 0.0102% / 8h	3h 47m	$2.9M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now +0.083%Rate

Funding earned: $6.3
Price spread: +0.083% → +0.051%: $3.2
Slippage, 4 orders: −$75.59
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.09
Costs to cover: 0.906%
Break-even: 97.1 days

Slippage from Lighter: live order book, 52 min ago; Gate: live order book, 1 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 Lighter live order book, 52 min ago	26.80 bp	27.6 bp −$28	49.5 bp −$495	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.15 bp	15.5 bp −$15	49.3 bp −$493	84.1 bp −$8,414	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	96.160	−0.021%	$1K	$851K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.110	−0.073%	$34K	$3K	10x	as long as short
Lighter ZHIPUlong	+0.0072%	1h	96.180	long leg	$101K	$20K	10x
Nado ZHIPU-PERP	+0.0100%	1h	96.175	−0.006%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.120	−0.062%	$567	$798	10x	as long as short
Gate ZHIPU_USDTshort	+0.0102%	8h	96.260	+0.083%	$2.9M	$11.8M	50x
Aevo ZHIPU-PERP	+0.0184%	1h	96.083	−0.101%	—	—	10x	as long as short
HTX ZHIPU-USDT	+0.0391%	4h	96.240	+0.062%	$17K	$332K	20x	as long as short
Aster ZHIPUUSDT	+0.0581%	8h	95.867	−0.325%	$49K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0814%	1h	96.070	−0.114%	$36K	$20K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0992%	4h	96.180	0.000%	$39K	$125K	20x	as long as short
Binance ZHIPUUSDT	+0.1262%	4h	96.200	+0.021%	$22.6M	$63.2M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.1332%	1h	96.187	+0.007%	$27.0M	$7.2M	10x	as long as short
edgeX ZHIPUUSDC	+0.1364%	4h	95.993	−0.195%	$19K	$150K	10x	as long as short
Bitget ZHIPUUSDT	+0.1379%	8h	96.280	+0.104%	$1.9M	$4.0M	20x	as long as short
Bybit ZHIPUUSDT	+0.1601%	8h	96.270	+0.094%	$273K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1801%	8h	96.300	+0.125%	$5.8M	$17.0M	25x	as long as short