Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1745%/8h= +191.1% APRpaid last 24h −0.028%

Price spread now: OKX against Lighter+0.114%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.055%−$5 · spread now +0.114%, 7d avg +0.046%

Together, before fees−0.157%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$52 a day on $10k at the current rate, and OKX is 0.068% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.046%. Mind the row above: over the last 7 days funding on this pair cost −0.102%, 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 -0.102% in total (about -5.3% 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	96.080	0.0032	pay 0.0004% / 1h	38m 37s	$101K	$20K	10x
Short	OKX ZHIPU-USDT-SWAP	96.190	0.1777	get 0.1777% / 8h	3h 38m	$5.8M	$17.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.114%Rate

Funding earned: $366.44
Price spread: +0.114% → +0.046%: $6.82
Slippage, 4 orders: −$75.36
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $287.9
Costs to cover: 0.854%
Break-even: 1.5 days

Slippage from Lighter: live order book, 61 min ago; OKX: live order book, 5 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, 61 min ago	26.80 bp	27.6 bp −$28	49.5 bp −$495	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.52 bp	12.1 bp −$12	63.9 bp −$639	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	95.880	−0.208%	$1K	$851K	10x	as long as short
HTX ZHIPU-USDT	0.0000%	4h	96.130	+0.052%	$17K	$332K	20x	as long as short
Lighter ZHIPUlong	+0.0032%	1h	96.080	long leg	$101K	$20K	10x
SoDEX ZHIPU-USD	+0.0050%	1h	96.000	−0.083%	$34K	$3K	10x	as long as short
Gate ZHIPU_USDT	+0.0082%	8h	96.170	+0.094%	$2.9M	$11.8M	50x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	96.038	−0.044%	$27K	$4K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	95.960	−0.125%	$566	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0192%	1h	95.970	−0.114%	—	—	10x	as long as short
Aster ZHIPUUSDT	+0.0553%	8h	95.906	−0.181%	$50K	$51K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0769%	1h	95.810	−0.281%	$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	96.060	−0.021%	$39K	$124K	20x	as long as short
tradeXYZ xyz:ZHIPU	+0.1077%	1h	96.061	−0.020%	$26.9M	$7.2M	10x	as long as short
Binance ZHIPUUSDT	+0.1181%	4h	96.100	+0.021%	$22.5M	$63.3M	25x	as long as short
Bitget ZHIPUUSDT	+0.1362%	8h	96.170	+0.094%	$1.8M	$4.1M	20x	as long as short
Bybit ZHIPUUSDT	+0.1542%	8h	96.100	+0.021%	$271K	$1.4M	25x	as long as short
OKX ZHIPU-USDT-SWAPshort	+0.1777%	8h	96.190	+0.114%	$5.8M	$17.1M	25x
edgeX ZHIPUUSDC	+0.1892%	4h	95.934	−0.152%	$19K	$150K	10x	as long as short