Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.050%

Price spread now: Orderly against Lighter−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.021% cheaper against Lighter than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 25 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	94.370	0.0032	pay 0.0004% / 1h	19m 40s	$100K	$16K	10x
Short	Orderly PERP_ZHIPU_USDC_mythos	94.350	0.0100	get 0.0100% / 8h	7h 19m	$820	$798	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.021%Rate

Funding earned: $14.28
Price spread: −0.021% → 0.000%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.16
Costs to cover: 0.060%
Break-even: 4.0 days

Slippage unknown: Lighter: live order book, 51 min ago; Orderly: no order-book sample. Net counts fees only.

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, 51 min ago	11.56 bp	22.8 bp −$23	64.1 bp −$641	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bybit ZHIPUUSDT	0.0000%	8h	94.570	+0.212%	$355K	$1.2M	25x	as long as short
Gate ZHIPU_USDT	0.0000%	8h	94.480	+0.117%	$3.3M	$10.1M	50x	as long as short
SunX ZHIPU-USDT	0.0000%	4h	94.460	+0.095%	$2K	$395K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	94.390	+0.021%	$15K	$347K	20x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	94.370	long leg	$100K	$16K	10x
tradeXYZ xyz:ZHIPU	+0.0050%	1h	94.295	−0.079%	$26.5M	$6.9M	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	94.310	−0.064%	$33K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	94.281	−0.094%	$43K	$12K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythosshort	+0.0100%	8h	94.350	−0.021%	$820	$798	10x
Aevo ZHIPU-PERP	+0.0128%	1h	94.314	−0.059%	—	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZHIPU-USD.P	+0.0142%	1h	94.430	+0.064%	$32K	$19K	5x	as long as short
Binance ZHIPUUSDT	+0.0508%	4h	94.453	+0.087%	$22.0M	$55.4M	25x	as long as short
KuCoin ZHIPUUSDTM	+0.0528%	4h	94.360	−0.011%	$39K	$181K	20x	as long as short
Aster ZHIPUUSDT	+0.0614%	8h	94.305	−0.068%	$53K	$33K	20x	as long as short
edgeX ZHIPUUSDC	+0.0929%	4h	94.145	−0.239%	$20K	$151K	10x	as long as short
Bitget ZHIPUUSDT	+0.1149%	8h	94.480	+0.117%	$1.6M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1614%	8h	94.710	+0.360%	$5.1M	$15.1M	25x	as long as short