Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.083%

Price spread now: SunX against Lighter+0.208%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$291as in the Funding arb table

Net, price: spread back to 7d avg − costs−$263as in the Price arb table

costs, in and out, $10k−$2782.776% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.208%, 7d avg +0.058%

Together, before fees−0.184%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.150% dearer against Lighter than usual: you sell high and buy low (spread +0.208% now, against its 7-day average of +0.058%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	96.050	0.0072	pay 0.0009% / 1h	58m 32s	$101K	$16K	10x
Short	SunX ZHIPU-USDT	96.250	0	get 0.0000% / 4h	58m 32s	$1K	$755K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.208%Rate

Funding earned: −$15.12
Price spread: +0.208% → +0.058%: $15.03
Slippage, 4 orders: −$269.62
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$277.71
Costs to cover: 2.776%
Break-even: never at this rate

Slippage from Lighter: live order book, 17 min ago; SunX: live order book, 14 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, 17 min ago	13.16 bp	15.3 bp −$15	49.3 bp −$493	doesn't fit	doesn't fit
Sell SunX live order book, 14 min ago	31.12 bp	136.4 bp −$136	doesn't fit	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-USDTshort	0.0000%	4h	96.250	+0.208%	$1K	$755K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	96.070	+0.021%	$34K	$3K	10x	as long as short
Lighter ZHIPUlong	+0.0072%	1h	96.050	long leg	$101K	$16K	10x
Nado ZHIPU-PERP	+0.0100%	1h	95.932	−0.123%	$44K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.030	−0.021%	$834	$1K	10x	as long as short
Gate ZHIPU_USDT	+0.0215%	8h	96.240	+0.198%	$3.2M	$9.7M	50x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0234%	1h	96.250	+0.208%	$33K	$23K	5x	as long as short
Aevo ZHIPU-PERP	+0.0240%	1h	96.094	+0.046%	—	—	10x	as long as short
HTX ZHIPU-USDT	+0.0761%	4h	96.140	+0.094%	$20K	$355K	20x	as long as short
Aster ZHIPUUSDT	+0.0924%	8h	96.270	+0.229%	$53K	$52K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ZHIPU	+0.0958%	1h	96.060	+0.010%	$27.1M	$7.7M	10x	as long as short
KuCoin ZHIPUUSDTM	+0.1030%	4h	96.090	+0.042%	$39K	$118K	20x	as long as short
Binance ZHIPUUSDT	+0.1091%	4h	96.150	+0.104%	$22.6M	$66.7M	25x	as long as short
Bybit ZHIPUUSDT	+0.1427%	8h	96.190	+0.146%	$361K	$1.5M	25x	as long as short
Bitget ZHIPUUSDT	+0.1603%	8h	96.230	+0.187%	$1.7M	$4.3M	20x	as long as short
edgeX ZHIPUUSDC	+0.1913%	4h	96.219	+0.176%	$20K	$154K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1968%	8h	96.210	+0.167%	$5.3M	$18.9M	25x	as long as short