Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.011%

Price spread now: Lighter against KuCoin+0.110%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2192.188% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.276%+$28 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.110%, 7d avg −0.004%

Together, before fees+0.125%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.114% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZHIPUUSDTM	100.33	0.1452	pay 0.0726% / 4h	1h 21m	$40K	$121K	20x
Short	Lighter ZHIPU	100.44	0.1504	get 0.0188% / 1h	21m 18s	$106K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.110%Rate

Funding earned: $10.92
Price spread: +0.110% → −0.004%: $11.4
Slippage, 4 orders: −$206.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$196.49
Costs to cover: 2.188%
Break-even: 133.0 days

Slippage from KuCoin: live order book, 67 min ago; Lighter: live order book, 23 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 KuCoin live order book, 67 min ago	18.91 bp	117.2 bp −$117	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 23 min ago	9.54 bp	12.4 bp −$12	43.8 bp −$438	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	100.70	+0.369%	$2K	$915K	10x	as long as short
SoDEX ZHIPU-USD	+0.0074%	1h	100.32	−0.010%	$36K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	99.925	−0.403%	$28K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	100.36	+0.030%	$52	$266	10x	as long as short
Aevo ZHIPU-PERP	+0.0112%	1h	100.43	+0.104%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0460%	8h	99.947	−0.382%	$51K	$53K	20x	as long as short
Gate ZHIPU_USDT	+0.0484%	8h	100.41	+0.080%	$3.2M	$10.8M	50x	as long as short
HTX ZHIPU-USDT	+0.1241%	4h	100.32	−0.010%	$18K	$321K	20x	as long as short
Bitget ZHIPUUSDT	+0.1245%	8h	100.42	+0.090%	$2.0M	$3.7M	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1291%	1h	100.39	+0.060%	$36K	$18K	5x	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	+0.1429%	8h	100.48	+0.150%	$5.5M	$15.7M	25x	as long as short
KuCoin ZHIPUUSDTMlong	+0.1452%	4h	100.33	long leg	$40K	$121K	20x
Lighter ZHIPUshort	+0.1504%	1h	100.44	+0.110%	$106K	$20K	10x
tradeXYZ xyz:ZHIPU	+0.2053%	1h	100.31	−0.020%	$28.3M	$6.7M	10x	as long as short
Binance ZHIPUUSDT	+0.2272%	4h	100.31	−0.022%	$23.4M	$57.2M	25x	as long as short
edgeX ZHIPUUSDC	+0.2499%	4h	100.22	−0.111%	$20K	$150K	10x	as long as short
Bybit ZHIPUUSDT	+0.2997%	8h	100.34	+0.010%	$373K	$1.3M	25x	as long as short