Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.057%

Price spread now: Lighter against Gate−0.200%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$760.756% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

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. Lighter is 0.200% cheaper against Gate than usual: you would sell low and buy high (spread −0.200% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 21 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZHIPU_USDT	94.940	0	get 0.0000% / 8h	4h 43m	$3.3M	$10.1M	50x
Short	Lighter ZHIPU	94.750	0.0032	get 0.0004% / 1h	43m 12s	$100K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.200%Rate

Funding earned: $6.72
Price spread: −0.200% → 0.000%: −$20.01
Slippage, 4 orders: −$60.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$88.86
Costs to cover: 0.756%
Break-even: 99.6 days

Slippage from Gate: live order book, 4 min ago; Lighter: live order book, 59 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 Gate live order book, 4 min ago	1.05 bp	11.2 bp −$11	42.0 bp −$420	83.6 bp −$8,361	doesn't fit
Sell Lighter live order book, 59 min ago	14.24 bp	24.5 bp −$25	68.4 bp −$684	doesn't fit	doesn't fit

ZHIPU on 17 exchanges

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	94.843	−0.102%	$54K	$33K	20x	as long as short
Gate ZHIPU_USDTlong	0.0000%	8h	94.940	long leg	$3.3M	$10.1M	50x
SunX ZHIPU-USDT	0.0000%	4h	94.970	+0.032%	$1K	$394K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	94.950	+0.011%	$16K	$345K	20x	as long as short
Lighter ZHIPUshort	+0.0032%	1h	94.750	−0.200%	$100K	$15K	10x
tradeXYZ xyz:ZHIPU	+0.0050%	1h	94.817	−0.130%	$26.6M	$6.8M	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	94.840	−0.105%	$34K	$3K	10x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0058%	1h	94.810	−0.137%	$32K	$18K	5x	as long as short
Binance ZHIPUUSDT	+0.0065%	4h	94.890	−0.052%	$22.0M	$55.8M	25x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	94.833	−0.113%	$43K	$12K	3x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0100%	4h	94.870	−0.074%	$41K	$323K	20x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	94.850	−0.095%	$824	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	94.819	−0.127%	—	—	10x	as long as short
edgeX ZHIPUUSDC	+0.0188%	4h	94.726	−0.225%	$20K	$151K	10x	as long as short
Bybit ZHIPUUSDT	+0.0200%	8h	94.910	−0.032%	$356K	$1.2M	25x	as long as short
Bitget ZHIPUUSDT	+0.0412%	8h	94.930	−0.011%	$1.6M	$4.0M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.0866%	8h	94.950	+0.011%	$5.1M	$15.4M	25x	as long as short