ZHIPU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0401%/8h= −43.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.145%

Price spread now: Lighter against tradeXYZ−0.003%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on tradeXYZ Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.003%, 7d avg −0.087%

Together, before fees−0.292%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.084% dearer against tradeXYZ than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.087%): +$8 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.317% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:ZHIPU	98.323	0.1737	pay 0.0217% / 1h	59m 50s	$27.5M	$6.8M	10x
Short	Lighter ZHIPU	98.320	0.1336	get 0.0167% / 1h	59m 50s	$104K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against tradeXYZ. 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 tradeXYZbpFee LighterbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$84.11
Price spread: −0.003% → −0.087%: $8.39
Slippage, 4 orders: −$32.89
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: −$126.6
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Lighter: live order book, 44 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 tradeXYZ live order book, 9 min ago	2.43 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	9.54 bp	12.4 bp −$12	43.8 bp −$438	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	98.520	+0.200%	$1K	$864K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	98.250	−0.074%	$35K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	98.020	−0.308%	$27K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	98.230	−0.095%	$579	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0152%	1h	98.273	−0.051%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0424%	8h	98.400	+0.078%	$3.1M	$11.4M	50x	as long as short
Aster ZHIPUUSDT	+0.0593%	8h	98.418	+0.097%	$51K	$52K	20x	as long as short
HTX ZHIPU-USDT	+0.1102%	4h	98.220	−0.105%	$18K	$324K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1102%	1h	98.230	−0.095%	$37K	$21K	5x	as long as short
Lighter ZHIPUshort	+0.1336%	1h	98.320	−0.003%	$104K	$20K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZHIPUUSDT	+0.1381%	8h	97.720	−0.613%	$1.9M	$3.8M	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1538%	4h	98.130	−0.196%	$39K	$123K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1615%	8h	98.060	−0.267%	$5.5M	$15.7M	25x	as long as short
tradeXYZ xyz:ZHIPUlong	+0.1737%	1h	98.323	long leg	$27.5M	$6.8M	10x
Binance ZHIPUUSDT	+0.2228%	4h	98.220	−0.105%	$22.7M	$58.7M	25x	as long as short
Bybit ZHIPUUSDT	+0.2772%	8h	98.140	−0.186%	$366K	$1.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.2984%	4h	98.953	+0.640%	$19K	$150K	10x	as long as short