Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h 0.000%

Price spread now: OKX against Gate−0.063%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$990.988% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.063%, 7d avg −0.024%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.040% cheaper against Gate than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of −0.024%). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.171% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPD_USDT	1,311.7	0	get 0.0000% / 4h	2h 09m	$1.9M	$430K	100x
Short	OKX XPD-USDT-SWAP	1,310.9	0.0166	get 0.0166% / 8h	2h 09m	$321K	$515K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $34.89
Price spread: −0.063% → −0.024%: −$3.95
Slippage, 4 orders: −$73.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$67.82
Costs to cover: 0.988%
Break-even: 20.6 days

Slippage from Gate: live order book, 3 min ago; OKX: live order book, 11 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 Gate live order book, 3 min ago	0.23 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 11 min ago	0.76 bp	18.7 bp −$19	132.4 bp −$1,324	doesn't fit	doesn't fit

XPD on 16 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_USDTlong	0.0000%	4h	1,311.7	long leg	$1.9M	$430K	100x
SunX XPD-USDT	0.0000%	4h	1,309.3	−0.183%	—	$2.0M	10x	as long as short
Lighter XPD	+0.0032%	1h	1,312.5	+0.059%	$400K	$148K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.606%	$16K	$20K	52x	as long as short
HTX XPD-USDT	+0.0100%	4h	1,311.5	−0.014%	$10K	$33K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,310.2	−0.115%	$171K	$4K	75x	as long as short
OKX XPD-USDT-SWAPshort	+0.0166%	8h	1,310.9	−0.063%	$321K	$515K	50x
Variational Omni XPD	+0.0182%	4h	1,311.9	+0.016%	$539K	$28K	—	as long as short
tradeXYZ xyz:PALLADIUM	+0.0201%	1h	1,309.8	−0.147%	$2.7M	$542K	20x	as long as short
Binance XPDUSDT	+0.0282%	4h	1,311.9	+0.010%	$3.8M	$4.4M	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPD_USDT	+0.0284%	4h	1,311.6	−0.013%	$13.1M	$339K	100x	as long as short
BloFin XPD-USDT	+0.0296%	4h	1,311.7	0.000%	$30K	$19K	100x	as long as short
edgeX XPDUSDC	+0.0299%	4h	1,311.9	+0.015%	$38K	$205K	10x	as long as short
Bitget XPDUSDT	+0.0370%	4h	1,310.8	−0.070%	$5.0M	$284K	100x	as long as short
Aster XPDUSDT	+0.0451%	4h	1,310.8	−0.068%	$27K	$12K	20x	as long as short
GRVT XPD_USDT_Perp	+0.0894%	4h	1,311.5	−0.020%	$337K	$1.1M	25x	as long as short