Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Variational Omni against Binance−0.035%7-day average −0.006% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 2 days (all we have)+0.017%+$2 · spread now −0.035%, 7d avg −0.006%

Together, before fees+0.013%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.029% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPDUSDT	1,319.2	0	get 0.0000% / 4h	3h 57m	$3.8M	$4.3M	100x
Short	Variational Omni XPD	1,318.8	0	get 0.0000% / 4h	3h 57m	$546K	$16K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.006%: −$2.94
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.94
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; Variational Omni: RFQ quote, 16 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 Binance live order book, 10 min ago	0.80 bp	15.3 bp −$15	37.8 bp −$378	154.7 bp −$15.5K	doesn't fit
Sell Variational Omni RFQ quote, 16 min ago	2.24 bp	doesn't fit	47.6 bp −$476	doesn't fit	doesn't fit

XPD 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
tradeXYZ xyz:PALLADIUM	−0.0203%	1h	1,317.2	−0.153%	$2.7M	$523K	20x	as long as short
BloFin XPD-USDT	−0.0056%	4h	1,318.1	−0.089%	$30K	$19K	100x	as long as short
Binance XPDUSDTlong	0.0000%	4h	1,319.2	long leg	$3.8M	$4.3M	100x
Gate XPD_USDT	0.0000%	4h	1,319.1	−0.010%	$2.0M	$413K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,319.2	−0.005%	$13.2M	$337K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,318.5	−0.052%	$5.1M	$219K	100x	as long as short
Variational Omni XPDshort	0.0000%	4h	1,318.8	−0.035%	$546K	$16K	—
SunX XPD-USDT	0.0000%	4h	1,317.5	−0.131%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,318.3	−0.071%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,318	−0.093%	—	—	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XPDUSDC	+0.0018%	4h	1,318.7	−0.038%	$38K	$204K	10x	as long as short
Lighter XPD	+0.0032%	1h	1,319.6	+0.029%	$406K	$153K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.029%	$16K	$20K	52x	as long as short
Aster XPDUSDT	+0.0035%	4h	1,318.8	−0.031%	$27K	$12K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,317.9	−0.098%	$172K	$4K	75x	as long as short
OKX XPD-USDT-SWAP	+0.0142%	8h	1,318.8	−0.032%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0464%	4h	1,318.4	−0.066%	$339K	$935K	25x	as long as short