Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h +0.001%

Price spread now: Lighter against Bitget−0.066%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$940.941% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.066%, 7d avg −0.018%

Together, before fees+0.207%+ Points / potential airdropLighter: Season 3 · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.048% cheaper against Bitget than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.166%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZHIPUUSDT	105.83	0.0170	pay 0.0170% / 8h	7h 23m	$1.8M	$4.6M	20x
Short	Lighter ZHIPU	105.76	0.0032	get 0.0004% / 1h	23m 01s	$112K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$28.98
Price spread: −0.066% → −0.018%: −$4.8
Slippage, 4 orders: −$82.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$127.84
Costs to cover: 0.941%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Lighter: live order book, 32 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 Bitget live order book, 5 min ago	1.42 bp	9.1 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell Lighter live order book, 32 min ago	13.25 bp	26.3 bp −$26	45.5 bp −$455	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	105.59	−0.227%	$54K	$51K	20x	as long as short
Gate ZHIPU_USDT	0.0000%	8h	105.87	+0.038%	$2.9M	$13.1M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	105.90	+0.066%	$1K	$1.2M	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	105.75	−0.076%	$19K	$314K	20x	as long as short
Lighter ZHIPUshort	+0.0032%	1h	105.76	−0.066%	$112K	$19K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	105.76	−0.066%	$38K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	105.88	+0.044%	$23K	$20	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	105.79	−0.038%	$42K	$128K	20x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	105.77	−0.057%	—	—	10x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0143%	8h	105.76	−0.066%	$54	$266	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZHIPU-USDT-SWAP	+0.0151%	8h	105.97	+0.132%	$5.0M	$18.6M	25x	as long as short
Bitget ZHIPUUSDTlong	+0.0170%	8h	105.83	long leg	$1.8M	$4.6M	20x
tradeXYZ xyz:ZHIPU	+0.0405%	1h	105.87	+0.038%	$29.0M	$7.9M	10x	as long as short
Binance ZHIPUUSDT	+0.0516%	4h	105.76	−0.066%	$21.2M	$56.8M	25x	as long as short
Bybit ZHIPUUSDT	+0.0685%	8h	105.93	+0.094%	$431K	$1.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.1020%	4h	105.86	+0.027%	$21K	$151K	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1026%	1h	105.97	+0.132%	$37K	$22K	5x	as long as short