Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.038%

Price spread now: Lighter against HTX+0.100%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1351.348% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.283%+$28 on $10k

Price spread, last 3 days (all we have)−0.195%−$19 · spread now +0.100%, 7d avg +0.046%

Together, before fees+0.088%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.054% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZHIPU-USDT	100.05	0.0835	pay 0.0417% / 4h	1h 50m	$18K	$307K	20x
Short	Lighter ZHIPU	100.15	0.1096	get 0.0137% / 1h	50m 41s	$105K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.100%Rate

Funding earned: $54.82
Price spread: +0.100% → +0.046%: $5.37
Slippage, 4 orders: −$122.79
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$74.6
Costs to cover: 1.348%
Break-even: 16.5 days

Slippage from HTX: live order book, 11 min ago; Lighter: live order book, 59 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 HTX live order book, 11 min ago	6.43 bp	18.9 bp −$19	53.9 bp −$539	doesn't fit	doesn't fit
Sell Lighter live order book, 59 min ago	46.37 bp	50.5 bp −$51	113.7 bp −$1,137	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	100.27	+0.220%	$1K	$986K	10x	as long as short
Aster ZHIPUUSDT	+0.0033%	8h	100.22	+0.167%	$51K	$54K	20x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	100.11	+0.060%	$36K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	99.856	−0.194%	$25K	$2K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	100.09	+0.040%	$52	$266	10x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	100.17	+0.120%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0259%	8h	100.21	+0.160%	$3.0M	$10.2M	50x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0742%	1h	100.72	+0.670%	$36K	$18K	5x	as long as short
HTX ZHIPU-USDTlong	+0.0835%	4h	100.05	long leg	$18K	$307K	20x
Bitget ZHIPUUSDT	+0.0841%	8h	100.23	+0.180%	$2.0M	$3.7M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0916%	4h	100.08	+0.030%	$40K	$124K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.0932%	8h	100.25	+0.200%	$5.3M	$16.0M	25x	as long as short
Lighter ZHIPUshort	+0.1096%	1h	100.15	+0.100%	$105K	$20K	10x
tradeXYZ xyz:ZHIPU	+0.1731%	1h	100.06	+0.010%	$27.7M	$6.3M	10x	as long as short
Binance ZHIPUUSDT	+0.1763%	4h	100.01	−0.035%	$22.2M	$56.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.2247%	4h	100.62	+0.573%	$20K	$154K	10x	as long as short
Bybit ZHIPUUSDT	+0.2531%	8h	100.11	+0.060%	$375K	$1.3M	25x	as long as short