Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.057%

Price spread now: Gate against Lighter+0.116%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 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

The price spread pays, funding is against you. Gate is 0.116% dearer against Lighter than usual: you sell high and buy low (spread +0.116% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	94.670	0.0032	pay 0.0004% / 1h	16m 24s	$100K	$16K	10x
Short	Gate ZHIPU_USDT	94.780	0	get 0.0000% / 8h	6h 16m	$3.3M	$10.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.116%Rate

Funding earned: −$6.72
Price spread: +0.116% → 0.000%: $11.62
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.1
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 5 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 Lighter no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	3.69 bp	14.7 bp −$15	48.2 bp −$482	88.7 bp −$8,868	doesn't fit

Lighter: 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 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
Gate ZHIPU_USDTshort	0.0000%	8h	94.780	+0.116%	$3.3M	$10.2M	50x
SunX ZHIPU-USDT	0.0000%	4h	94.800	+0.137%	$1K	$394K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	94.730	+0.063%	$15K	$346K	20x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	94.670	long leg	$100K	$16K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	94.720	+0.053%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	94.727	+0.060%	$43K	$12K	3x	as long as short
KuCoin ZHIPUUSDTM	+0.0100%	4h	94.720	+0.053%	$39K	$242K	20x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	94.730	+0.063%	$823	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0104%	1h	94.718	+0.051%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0279%	8h	94.671	+0.001%	$54K	$33K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ZHIPUUSDT	+0.0506%	4h	94.697	+0.029%	$21.9M	$55.8M	25x	as long as short
tradeXYZ xyz:ZHIPU	+0.0522%	1h	94.698	+0.030%	$26.6M	$6.9M	10x	as long as short
Bybit ZHIPUUSDT	+0.0690%	8h	94.830	+0.169%	$355K	$1.2M	25x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0752%	1h	94.810	+0.148%	$32K	$19K	5x	as long as short
Bitget ZHIPUUSDT	+0.0933%	8h	94.800	+0.137%	$1.6M	$4.0M	20x	as long as short
edgeX ZHIPUUSDC	+0.1051%	4h	94.668	−0.002%	$20K	$151K	10x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1337%	8h	94.830	+0.169%	$5.1M	$15.3M	25x	as long as short