ZHIPU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0404%/8h= −44.2% APRnext payment −$0.51 per $10,000 · paid last 24h −0.145%

Price spread now: Lighter against tradeXYZ+0.041%7-day average −0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on tradeXYZ Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.041%, 7d avg −0.087%

Together, before fees−0.336%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.128% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.087%): +$13 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.317% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:ZHIPU	98.140	0.1740	pay 0.0218% / 1h	0m 46s	$27.5M	$6.8M	10x
Short	Lighter ZHIPU	98.180	0.1336	get 0.0167% / 1h	0m 46s	$103K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against tradeXYZ. 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 tradeXYZbpFee LighterbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$84.86
Price spread: +0.041% → −0.087%: $12.77
Slippage, 4 orders: −$32.89
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: −$122.97
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; Lighter: live order book, 44 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 tradeXYZ live order book, 8 min ago	2.43 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	9.54 bp	12.4 bp −$12	43.8 bp −$438	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	98.520	+0.387%	$1K	$864K	10x	as long as short
SoDEX ZHIPU-USD	+0.0050%	1h	98.050	−0.092%	$35K	$3K	10x	as long as short
Nado ZHIPU-PERP	+0.0100%	1h	98.017	−0.125%	$27K	$3K	3x	as long as short
Orderly PERP_ZHIPU_USDC_mythos	+0.0100%	8h	98.130	−0.010%	$578	$798	10x	as long as short
Aevo ZHIPU-PERP	+0.0144%	1h	98.148	+0.009%	—	—	10x	as long as short
Gate ZHIPU_USDT	+0.0425%	8h	98.330	+0.194%	$3.1M	$11.4M	50x	as long as short
Aster ZHIPUUSDT	+0.0593%	8h	98.195	+0.056%	$50K	$52K	20x	as long as short
Ondo Perps ZHIPU-USD.P	+0.1094%	1h	98.230	+0.092%	$37K	$21K	5x	as long as short
HTX ZHIPU-USDT	+0.1100%	4h	98.220	+0.082%	$18K	$324K	20x	as long as short
Lighter ZHIPUshort	+0.1336%	1h	98.180	+0.041%	$103K	$20K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZHIPUUSDT	+0.1372%	8h	98.350	+0.214%	$1.9M	$3.8M	20x	as long as short
KuCoin ZHIPUUSDTM	+0.1526%	4h	98.120	−0.020%	$40K	$123K	20x	as long as short
OKX ZHIPU-USDT-SWAP	+0.1602%	8h	98.500	+0.367%	$5.5M	$15.8M	25x	as long as short
tradeXYZ xyz:ZHIPUlong	+0.1740%	1h	98.140	long leg	$27.5M	$6.8M	10x
Binance ZHIPUUSDT	+0.2228%	4h	98.260	+0.122%	$22.7M	$58.7M	25x	as long as short
Bybit ZHIPUUSDT	+0.2772%	8h	98.350	+0.214%	$367K	$1.3M	25x	as long as short
edgeX ZHIPUUSDC	+0.2984%	4h	98.953	+0.828%	$19K	$150K	10x	as long as short