Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h −0.032%

Price spread now: HTX against Lighter+0.059%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1261.259% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.289%−$29 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.059%, 7d avg −0.046%

Together, before fees−0.252%+ Points / potential airdropLighter: Season 3 · farm board−$25 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 HTX is 0.105% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.046%. Mind the row above: over the last 7 days funding on this pair cost −0.289%, 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	101.97	0.0568	pay 0.0071% / 1h	12m 59s	$108K	$20K	10x
Short	HTX ZHIPU-USDT	102.03	0.0629	get 0.0315% / 4h	2h 12m	$18K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.059%Rate

Funding earned: $12.86
Price spread: +0.059% → −0.046%: $10.51
Slippage, 4 orders: −$113.87
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$102.5
Costs to cover: 1.259%
Break-even: 62.8 days

Slippage from Lighter: live order book, 37 min ago; HTX: live order book, 54 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, 37 min ago	46.37 bp	47.8 bp −$48	58.6 bp −$586	doesn't fit	doesn't fit
Sell HTX live order book, 54 min ago	3.76 bp	13.9 bp −$14	38.2 bp −$382	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	101.99	+0.020%	$52K	$52K	20x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	102.23	+0.255%	$1K	$1.0M	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	102.03	+0.059%	$36K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	101.83	−0.134%	$26K	$2K	3x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	102.07	+0.099%	—	—	10x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0112%	8h	101.99	+0.020%	$53	$266	10x	as long as short
Gate ZHIPU_USDT	+0.0224%	8h	102.07	+0.098%	$3.0M	$11.7M	50x	as long as short
Bitget ZHIPUUSDT	+0.0549%	8h	102.08	+0.108%	$2.0M	$3.8M	20x	as long as short
Lighter ZHIPUlong	+0.0568%	1h	101.97	long leg	$108K	$20K	10x
KuCoin ZHIPUUSDTM	+0.0592%	4h	102.01	+0.039%	$41K	$124K	20x	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	+0.0606%	8h	102.04	+0.069%	$5.2M	$16.3M	25x	as long as short
HTX ZHIPU-USDTshort	+0.0629%	4h	102.03	+0.059%	$18K	$307K	20x
Binance ZHIPUUSDT	+0.1439%	4h	101.98	+0.010%	$21.6M	$55.5M	25x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1531%	1h	102.42	+0.441%	$37K	$20K	5x	as long as short
tradeXYZ xyz:ZHIPU	+0.1611%	1h	102.00	+0.029%	$28.1M	$6.2M	10x	as long as short
Bybit ZHIPUUSDT	+0.2123%	8h	102.07	+0.098%	$383K	$1.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.2207%	4h	102.93	+0.942%	$20K	$154K	10x	as long as short