Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.042%

Price spread now: Lighter against Orderly+0.104%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Lighter

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

The price spread pays, funding is against you. Lighter is 0.104% dearer against Orderly than usual: you sell high and buy low (spread +0.104% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZHIPU_USDC_mythos	95.960	0.0100	pay 0.0100% / 8h	3h 39m	$566	$798	10x
Short	Lighter ZHIPU	96.060	0.0032	get 0.0004% / 1h	39m 20s	$101K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$14.28
Price spread: +0.104% → 0.000%: $10.42
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.86
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 60 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 60 min ago	26.80 bp	31.0 bp −$31	68.0 bp −$680	doesn't fit	doesn't fit

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
SunX ZHIPU-USDT	0.0000%	4h	95.880	−0.083%	$1K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	95.950	−0.010%	$17K	$332K	20x	as long as short
Lighter ZHIPUshort	+0.0032%	1h	96.060	+0.104%	$101K	$20K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	95.950	−0.010%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDT	+0.0086%	8h	96.170	+0.219%	$2.9M	$11.8M	50x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.038	+0.081%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythoslong	+0.0100%	8h	95.960	long leg	$566	$798	10x
Aevo ZHIPU-PERP	+0.0192%	1h	95.970	+0.011%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0557%	8h	95.900	−0.062%	$50K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0752%	1h	95.810	−0.156%	$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	+0.0930%	4h	96.040	+0.083%	$39K	$124K	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.1076%	1h	96.039	+0.082%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.1189%	4h	96.067	+0.112%	$22.5M	$63.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1361%	8h	96.170	+0.219%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1547%	8h	96.040	+0.083%	$271K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1777%	8h	96.250	+0.302%	$5.8M	$17.1M	25x	as long as short
edgeX ZHIPUUSDC	+0.1892%	4h	95.934	−0.027%	$19K	$150K	10x	as long as short