Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.016%

Price spread now: Orderly against Lighter−0.114%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.114% cheaper against Lighter than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	105.64	0.0032	pay 0.0004% / 1h	50m 02s	$112K	$19K	10x
Short	Orderly PERP_ZHIPU_USDC_mythos	105.52	0.0149	get 0.0149% / 8h	7h 50m	$54	$266	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.114%Rate

Funding earned: $24.55
Price spread: −0.114% → 0.000%: −$11.36
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $7.19
Costs to cover: 0.060%
Break-even: 5.0 days

Slippage unknown: Lighter: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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, 5 min ago	13.25 bp	44.6 bp −$45	69.2 bp −$692	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aster ZHIPUUSDT	0.0000%	8h	105.52	−0.112%	$54K	$51K	20x	as long as short
Bybit ZHIPUUSDT	0.0000%	8h	105.62	−0.019%	$300K	$1.3M	25x	as long as short
Gate ZHIPU_USDT	0.0000%	8h	105.65	+0.009%	$2.9M	$13.0M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	105.66	+0.019%	$2K	$1.2M	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	105.49	−0.142%	$19K	$314K	20x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	105.64	long leg	$112K	$19K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	105.55	−0.085%	$37K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	105.64	−0.004%	$23K	$20	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	105.58	−0.057%	$41K	$130K	20x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	105.53	−0.103%	—	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZHIPU_USDC_mythosshort	+0.0149%	8h	105.52	−0.114%	$54	$266	10x
OKX ZHIPU-USDT-SWAP	+0.0164%	8h	105.73	+0.085%	$5.0M	$18.6M	25x	as long as short
Bitget ZHIPUUSDT	+0.0248%	8h	105.64	0.000%	$1.7M	$4.5M	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.0373%	1h	105.62	−0.019%	$29.0M	$7.9M	10x	as long as short
Binance ZHIPUUSDT	+0.0579%	4h	105.54	−0.095%	$21.1M	$57.0M	25x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1018%	1h	105.63	−0.009%	$37K	$22K	5x	as long as short
edgeX ZHIPUUSDC	+0.1207%	4h	105.62	−0.019%	$21K	$150K	10x	as long as short