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

Net, funding: paid 7d − costs−$246as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

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

Long on Lighter Short on KuCoin

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)+0.151%+$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 against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.114% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	100.44	0.1504	pay 0.0188% / 1h	21m 17s	$106K	$20K	10x
Short	KuCoin ZHIPUUSDTM	100.33	0.1452	get 0.0726% / 4h	1h 21m	$40K	$121K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$10.92
Price spread: −0.110% → +0.004%: −$11.39
Slippage, 4 orders: −$206.81
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$241.11
Costs to cover: 2.188%
Break-even: never at this rate

Slippage from Lighter: live order book, 23 min ago; KuCoin: live order book, 67 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, 23 min ago	9.54 bp	12.0 bp −$12	47.2 bp −$472	doesn't fit	doesn't fit
Sell KuCoin live order book, 67 min ago	18.91 bp	77.2 bp −$77	doesn't fit	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	+0.259%	$2K	$915K	10x	as long as short
SoDEX ZHIPU-USD	+0.0074%	1h	100.32	−0.119%	$36K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	99.925	−0.512%	$28K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	100.36	−0.080%	$52	$266	10x	as long as short
Aevo ZHIPU-PERP	+0.0112%	1h	100.43	−0.005%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0460%	8h	99.947	−0.491%	$51K	$53K	20x	as long as short
Gate ZHIPU_USDT	+0.0484%	8h	100.41	−0.030%	$3.2M	$10.8M	50x	as long as short
HTX ZHIPU-USDT	+0.1241%	4h	100.32	−0.119%	$18K	$321K	20x	as long as short
Bitget ZHIPUUSDT	+0.1245%	8h	100.42	−0.020%	$2.0M	$3.7M	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1291%	1h	100.39	−0.050%	$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	+0.040%	$5.5M	$15.7M	25x	as long as short
KuCoin ZHIPUUSDTMshort	+0.1452%	4h	100.33	−0.110%	$40K	$121K	20x
Lighter ZHIPUlong	+0.1504%	1h	100.44	long leg	$106K	$20K	10x
tradeXYZ xyz:ZHIPU	+0.2053%	1h	100.31	−0.129%	$28.3M	$6.7M	10x	as long as short
Binance ZHIPUUSDT	+0.2272%	4h	100.31	−0.132%	$23.4M	$57.2M	25x	as long as short
edgeX ZHIPUUSDC	+0.2499%	4h	100.22	−0.221%	$20K	$150K	10x	as long as short
Bybit ZHIPUUSDT	+0.2997%	8h	100.34	−0.100%	$373K	$1.3M	25x	as long as short