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: Lighter against Orderly+0.085%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Lighter

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

The price spread pays, funding is against you. Lighter is 0.085% dearer against Orderly than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZHIPU_USDC_mythos	105.52	0.0149	pay 0.0149% / 8h	7h 48m	$54	$266	10x
Short	Lighter ZHIPU	105.61	0.0032	get 0.0004% / 1h	48m 35s	$112K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$24.55
Price spread: +0.085% → 0.000%: $8.53
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.02
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 6 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 6 min ago	13.25 bp	26.3 bp −$26	45.5 bp −$455	doesn't fit	doesn't fit

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	105.44	−0.073%	$54K	$51K	20x	as long as short
Bybit ZHIPUUSDT	0.0000%	8h	105.66	+0.133%	$299K	$1.3M	25x	as long as short
Gate ZHIPU_USDT	0.0000%	8h	105.65	+0.123%	$2.9M	$13.0M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	105.68	+0.152%	$2K	$1.2M	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	105.53	+0.009%	$19K	$314K	20x	as long as short
Lighter ZHIPUshort	+0.0032%	1h	105.61	+0.085%	$112K	$19K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	105.55	+0.028%	$37K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	105.64	+0.110%	$23K	$20	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	105.59	+0.066%	$41K	$130K	20x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	105.55	+0.028%	—	—	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_mythoslong	+0.0149%	8h	105.52	long leg	$54	$266	10x
OKX ZHIPU-USDT-SWAP	+0.0162%	8h	105.75	+0.218%	$5.0M	$18.6M	25x	as long as short
Bitget ZHIPUUSDT	+0.0240%	8h	105.64	+0.114%	$1.7M	$4.5M	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.0360%	1h	105.62	+0.095%	$29.0M	$7.9M	10x	as long as short
Binance ZHIPUUSDT	+0.0570%	4h	105.55	+0.032%	$21.1M	$57.0M	25x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0997%	1h	105.65	+0.123%	$37K	$22K	5x	as long as short
edgeX ZHIPUUSDC	+0.1207%	4h	105.62	+0.095%	$21K	$150K	10x	as long as short