Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0834%/8h= +91.3% APRpaid last 24h −0.005%

Price spread now: KuCoin against Lighter+0.031%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1571.565% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.286%−$29 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now +0.031%, 7d avg +0.005%

Together, before fees−0.085%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and KuCoin is 0.027% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.286%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.286% in total (about -14.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZHIPU	96.670	0.0624	pay 0.0078% / 1h	33m 05s	$102K	$20K	10x
Short	KuCoin ZHIPUUSDTM	96.700	0.1458	get 0.0729% / 4h	33m 05s	$39K	$124K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $175.14
Price spread: +0.031% → +0.005%: $2.65
Slippage, 4 orders: −$144.55
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $21.24
Costs to cover: 1.565%
Break-even: 6.2 days

Slippage from Lighter: live order book, 6 min ago; KuCoin: live order book, 41 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 Lighter live order book, 6 min ago	26.80 bp	27.6 bp −$28	49.5 bp −$495	doesn't fit	doesn't fit
Sell KuCoin live order book, 41 min ago	18.50 bp	43.3 bp −$43	doesn't fit	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	96.670	0.000%	$2K	$842K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	96.530	−0.145%	$34K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.398	−0.281%	$27K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	96.550	−0.124%	$569	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0232%	1h	96.634	−0.038%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0277%	8h	96.690	+0.021%	$3.0M	$11.5M	50x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0388%	1h	95.990	−0.703%	$36K	$20K	5x	as long as short
Lighter ZHIPUlong	+0.0624%	1h	96.670	long leg	$102K	$20K	10x
Aster ZHIPUUSDT	+0.0710%	8h	96.528	−0.147%	$50K	$51K	20x	as long as short
HTX ZHIPU-USDT	+0.0848%	4h	96.650	−0.021%	$17K	$327K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ZHIPU	+0.1023%	1h	96.589	−0.084%	$27.2M	$7.2M	10x	as long as short
KuCoin ZHIPUUSDTMshort	+0.1458%	4h	96.700	+0.031%	$39K	$124K	20x
Bitget ZHIPUUSDT	+0.1499%	8h	96.640	−0.031%	$1.9M	$3.9M	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1835%	8h	96.740	+0.072%	$5.7M	$16.3M	25x	as long as short
Binance ZHIPUUSDT	+0.2070%	4h	96.530	−0.145%	$22.6M	$60.7M	25x	as long as short
Bybit ZHIPUUSDT	+0.2345%	8h	96.600	−0.072%	$289K	$1.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.2474%	4h	96.159	−0.529%	$19K	$150K	10x	as long as short