Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.071%

Price spread now: Gate against Lighter+0.021%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.021%, 7d avg +0.051%

Together, before fees−0.182%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.030% cheaper against Lighter than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.051%). If the spread goes back, that is −$3 on $10k: about 47 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.098%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	96.060	0.0032	pay 0.0004% / 1h	39m 43s	$101K	$20K	10x
Short	Gate ZHIPU_USDT	96.080	0.0084	get 0.0084% / 8h	3h 39m	$2.9M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now +0.021%Rate

Funding earned: $10.92
Price spread: +0.021% → +0.051%: −$3.04
Slippage, 4 orders: −$77.96
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$85.08
Costs to cover: 0.930%
Break-even: 61.5 days

Slippage from Lighter: live order book, 59 min ago; Gate: live order book, 4 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 Lighter live order book, 59 min ago	26.80 bp	27.6 bp −$28	49.5 bp −$495	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.65 bp	17.8 bp −$18	49.3 bp −$493	85.6 bp −$8,555	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	95.880	−0.187%	$1K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	95.950	−0.115%	$17K	$332K	20x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	96.060	long leg	$101K	$20K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	95.950	−0.115%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDTshort	+0.0084%	8h	96.080	+0.021%	$2.9M	$11.8M	50x
Nado ZHIPU-PERP	+0.0100%	1h	95.974	−0.090%	$26K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.970	−0.094%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0184%	1h	95.964	−0.100%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0557%	8h	95.896	−0.170%	$50K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0742%	1h	95.810	−0.260%	$36K	$20K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0932%	4h	96.000	−0.062%	$39K	$124K	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.1076%	1h	96.024	−0.037%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.1189%	4h	96.013	−0.049%	$22.5M	$63.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1364%	8h	96.130	+0.073%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1547%	8h	95.940	−0.125%	$271K	$1.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.1683%	4h	95.958	−0.106%	$19K	$150K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1776%	8h	96.180	+0.125%	$5.8M	$17.1M	25x	as long as short