Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.002%

Price spread now: SunX against gTrade (Gains Network)+0.043%126s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.043% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 126 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPD/USD	1,293.8	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	29m 19s	—	—	—
Short	SunX XPD-USDT	1,294.4	0	get 0.0000% / 4h	1h 29m	—	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee SunXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$1.6
Price spread: +0.043% → 0.000%: $4.33
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$15.27
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 6 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	900.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

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
Gate XPD_USDT	0.0000%	4h	1,296.3	+0.189%	$2.0M	$478K	100x	as long as short
SunX XPD-USDTshort	0.0000%	4h	1,294.4	+0.043%	—	$1.8M	10x
HTX XPD-USDT	0.0000%	4h	1,295.8	+0.154%	$10K	$34K	20x	as long as short
gTrade (Gains Network) XPD/USDlong	L +0.0008% / S −0.0007%	1h	1,293.8	long leg	—	—	—
Lighter XPD	+0.0032%	1h	1,296.4	+0.199%	$399K	$160K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+3.013%	$16K	$20K	52x	as long as short
Variational Omni XPD	+0.0049%	4h	1,296.1	+0.176%	$534K	$24K	—	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,294	+0.014%	$2.7M	$459K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,294.5	+0.053%	$168K	$7K	75x	as long as short
Binance XPDUSDT	+0.0140%	4h	1,295.9	+0.158%	$3.7M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPD_USDT	+0.0142%	4h	1,295.6	+0.137%	$13.0M	$271K	100x	as long as short
edgeX XPDUSDC	+0.0172%	4h	1,296.1	+0.173%	$37K	$206K	10x	as long as short
BloFin XPD-USDT	+0.0194%	4h	1,294.8	+0.075%	$31K	$20K	100x	as long as short
OKX XPD-USDT-SWAP	+0.0302%	8h	1,295.7	+0.145%	$323K	$476K	50x	as long as short
Aster XPDUSDT	+0.0408%	4h	1,295.9	+0.161%	$26K	$6K	20x	as long as short
Bitget XPDUSDT	+0.0478%	4h	1,295.1	+0.102%	$5.0M	$246K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0722%	4h	1,295.9	+0.159%	$337K	$689K	25x	as long as short