Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.048%

Price spread now: Lighter against SunX0.000%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$306as in the Funding arb table

Net, price: spread back to 7d avg − costs−$318as in the Price arb table

costs, in and out, $10k−$3233.231% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 3 days (all we have)−0.208%−$21 · spread now 0.000%, 7d avg −0.049%

Together, before fees−0.036%+ Points / potential airdropLighter: Season 3 · farm board−$4 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 Lighter is 0.049% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZHIPU-USDT	104.95	0	get 0.0000% / 4h	1h 49m	$1K	$1.2M	10x
Short	Lighter ZHIPU	104.95	0.0032	get 0.0004% / 1h	49m 26s	$119K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → −0.049%: $4.89
Slippage, 4 orders: −$315.12
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$311.51
Costs to cover: 3.231%
Break-even: 331.5 days

Slippage from SunX: live order book, 4 min ago; Lighter: live order book, 24 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 SunX live order book, 4 min ago	30.47 bp	109.1 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 24 min ago	16.68 bp	42.2 bp −$42	55.3 bp −$553	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
Aster ZHIPUUSDT	0.0000%	8h	104.82	−0.128%	$54K	$51K	20x	as long as short
Binance ZHIPUUSDT	0.0000%	4h	104.88	−0.067%	$20.8M	$56.9M	25x	as long as short
SunX ZHIPU-USDTlong	0.0000%	4h	104.95	long leg	$1K	$1.2M	10x
HTX ZHIPU-USDT	0.0000%	4h	104.90	−0.048%	$19K	$315K	20x	as long as short
Lighter ZHIPUshort	+0.0032%	1h	104.95	0.000%	$119K	$9K	10x
Gate ZHIPU_USDT	+0.0034%	8h	105.01	+0.057%	$2.8M	$13.6M	50x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	104.88	−0.067%	$37K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	104.98	+0.026%	$23K	$145	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	104.94	−0.010%	$41K	$134K	20x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	104.87	−0.073%	—	—	10x	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	+0.0113%	1h	104.97	+0.019%	$29.3M	$7.6M	10x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0203%	8h	104.86	−0.086%	$76	$266	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.0214%	8h	105.06	+0.105%	$4.8M	$18.4M	25x	as long as short
Bitget ZHIPUUSDT	+0.0297%	8h	104.95	0.000%	$1.7M	$4.4M	20x	as long as short
Bybit ZHIPUUSDT	+0.0460%	8h	105.01	+0.057%	$303K	$1.3M	25x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0467%	1h	104.90	−0.048%	$40K	$19K	5x	as long as short
edgeX ZHIPUUSDC	+0.0479%	4h	104.96	+0.005%	$21K	$149K	10x	as long as short