Funding arb · Price arb /

ZHIPU

RWAall ZHIPU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1092%/8h= +119.6% APRpaid last 24h +0.024%

Price spread now: Lighter against Orderly−0.470%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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 0.470% cheaper against Orderly than usual: you would sell low and buy high (spread −0.470% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$47 on $10k: about 34 hours of funding at the current rate (+$33 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZHIPU_USDC_mythos	100.01	0.0100	pay 0.0100% / 8h	5h 49m	$52	$266	10x
Short	Lighter ZHIPU	99.540	0.1192	get 0.0149% / 1h	49m 52s	$105K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now −0.470%Rate

Funding earned: $229.32
Price spread: −0.470% → 0.000%: −$47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $176.32
Costs to cover: 0.060%
Break-even: 1.6 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 60 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 60 min ago	46.37 bp	50.5 bp −$51	113.7 bp −$1,137	doesn't fit	doesn't fit

Orderly: 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 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	100.17	+0.160%	$1K	$984K	10x	as long as short
Aster ZHIPUUSDT	+0.0041%	8h	99.616	−0.394%	$51K	$51K	20x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	100.00	−0.010%	$36K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	99.730	−0.280%	$25K	$2K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythoslong	+0.0100%	8h	100.01	long leg	$52	$266	10x
Aevo ZHIPU-PERP	+0.0104%	1h	100.08	+0.072%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0259%	8h	100.15	+0.140%	$3.0M	$10.3M	50x	as long as short
Ondo Perps ZHIPU-USD.P	+0.0742%	1h	100.72	+0.710%	$36K	$18K	5x	as long as short
Bitget ZHIPUUSDT	+0.0841%	8h	100.08	+0.070%	$2.0M	$3.7M	20x	as long as short
HTX ZHIPU-USDT	+0.0847%	4h	99.930	−0.080%	$18K	$308K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZHIPUUSDTM	+0.0916%	4h	99.990	−0.020%	$40K	$123K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.0947%	8h	100.14	+0.130%	$5.3M	$16.0M	25x	as long as short
Lighter ZHIPUshort	+0.1192%	1h	99.540	−0.470%	$105K	$20K	10x
tradeXYZ xyz:ZHIPU	+0.1758%	1h	99.981	−0.029%	$27.7M	$6.3M	10x	as long as short
Binance ZHIPUUSDT	+0.1770%	4h	99.560	−0.450%	$22.1M	$56.4M	25x	as long as short
edgeX ZHIPUUSDC	+0.2247%	4h	100.62	+0.613%	$20K	$154K	10x	as long as short
Bybit ZHIPUUSDT	+0.2531%	8h	100.06	+0.050%	$376K	$1.3M	25x	as long as short