Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1047%/8h= +114.6% APRpaid last 24h −0.045%

Price spread now: HTX against Lighter−0.052%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

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

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.052%, 7d avg −0.039%

Together, before fees−0.148%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: +$31 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.296%, 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 -0.296% in total (about -15.4% 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	Lighter ZHIPU	95.850	0.0032	pay 0.0004% / 1h	39m 23s	$101K	$17K	10x
Short	HTX ZHIPU-USDT	95.800	0.1079	get 0.0539% / 4h	1h 39m	$21K	$351K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $219.79
Price spread: −0.052% → −0.039%: −$1.34
Slippage, 4 orders: −$80.24
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $126.21
Costs to cover: 0.922%
Break-even: 3.0 days

Slippage from Lighter: live order book, 41 min ago; HTX: live order book, 3 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, 41 min ago	27.08 bp	31.2 bp −$31	64.9 bp −$649	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	5.21 bp	19.0 bp −$19	36.7 bp −$367	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	95.890	+0.042%	$1K	$788K	10x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	95.850	long leg	$101K	$17K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	95.730	−0.125%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	95.680	−0.178%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.790	−0.063%	$832	$1K	10x	as long as short
Gate ZHIPU_USDT	+0.0182%	8h	95.880	+0.031%	$3.2M	$11.7M	50x	as long as short
Aevo ZHIPU-PERP	+0.0272%	1h	95.816	−0.036%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0778%	1h	95.800	−0.052%	$33K	$23K	5x	as long as short
Aster ZHIPUUSDT	+0.0926%	8h	95.947	+0.101%	$53K	$58K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.0988%	4h	95.800	−0.052%	$38K	$119K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ZHIPU-USDTshort	+0.1079%	4h	95.800	−0.052%	$21K	$351K	20x
tradeXYZ xyz:ZHIPU	+0.1151%	1h	95.746	−0.109%	$27.0M	$7.7M	10x	as long as short
Binance ZHIPUUSDT	+0.1164%	4h	95.790	−0.062%	$22.6M	$66.5M	25x	as long as short
Bybit ZHIPUUSDT	+0.1578%	8h	95.810	−0.042%	$359K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1624%	8h	95.810	−0.042%	$1.7M	$4.3M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.2010%	8h	95.840	−0.010%	$5.4M	$18.5M	25x	as long as short
edgeX ZHIPUUSDC	+0.2054%	4h	95.820	−0.032%	$20K	$154K	10x	as long as short