Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h +0.077%

Price spread now: Lighter against Gate−0.074%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.074%, 7d avg −0.058%

Together, before fees+0.180%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.057%, 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	Gate ZHIPU_USDT	95.080	0.0205	pay 0.0205% / 8h	33m 13s	$3.2M	$10.1M	50x
Short	Lighter ZHIPU	95.010	0.0072	get 0.0009% / 1h	33m 13s	$100K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$27.93
Price spread: −0.074% → −0.058%: −$1.58
Slippage, 4 orders: −$45.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$89.85
Costs to cover: 0.603%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 42 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 Gate live order book, 5 min ago	4.73 bp	13.8 bp −$14	42.8 bp −$428	84.3 bp −$8,430	doesn't fit
Sell Lighter live order book, 42 min ago	13.16 bp	16.6 bp −$17	48.8 bp −$488	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-USDT	0.0000%	4h	95.090	+0.011%	$1K	$530K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	94.950	−0.137%	$34K	$3K	10x	as long as short
Lighter ZHIPUshort	+0.0072%	1h	95.010	−0.074%	$100K	$16K	10x
Nado ZHIPU-PERP	+0.0100%	1h	95.045	−0.037%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	94.980	−0.105%	$825	$798	10x	as long as short
Gate ZHIPU_USDTlong	+0.0205%	8h	95.080	long leg	$3.2M	$10.1M	50x
Aevo ZHIPU-PERP	+0.0216%	1h	94.991	−0.094%	—	—	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0273%	1h	95.220	+0.147%	$33K	$22K	5x	as long as short
tradeXYZ xyz:ZHIPU	+0.0580%	1h	94.969	−0.117%	$26.8M	$7.3M	10x	as long as short
HTX ZHIPU-USDT	+0.0617%	4h	94.990	−0.095%	$20K	$350K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZHIPUUSDT	+0.0895%	8h	95.068	−0.012%	$53K	$41K	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1008%	4h	95.060	−0.021%	$38K	$112K	20x	as long as short
Binance ZHIPUUSDT	+0.1057%	4h	94.980	−0.105%	$22.3M	$58.3M	25x	as long as short
Bybit ZHIPUUSDT	+0.1364%	8h	94.980	−0.105%	$354K	$1.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1544%	8h	95.020	−0.063%	$1.7M	$3.9M	20x	as long as short
edgeX ZHIPUUSDC	+0.1667%	4h	95.129	+0.052%	$20K	$154K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1905%	8h	95.000	−0.084%	$5.3M	$16.0M	25x	as long as short