Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0418%/8h= −45.8% APRpaid last 24h +0.010%

Price spread now: Injective against HTX+2.549%65s7-day average — · you sell dearer than you buy

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Injective is 2.549% dearer against HTX than usual: you sell high and buy low (spread +2.549% now, against zero (this spread has no 7-day history yet)): +$255 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 20 days. The two prices were read 65 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	HTX XPD-USDT	1,299.7	0.0451	pay 0.0226% / 4h	3h 01m	$10K	$34K	20x
Short	Injective XPD/USDC PERP	1,332.8	0.0033	get 0.0004% / 1h	1m 42s	$16K	$20K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now +2.549%Rate

Funding earned: −$87.81
Price spread: +2.549% → 0.000%: $254.91
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $155.08
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: no order-book sample; Injective: no order-book sample. 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 HTX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

HTX and Injective: 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
SunX XPD-USDT	0.0000%	4h	1,297.6	−0.163%	—	$1.8M	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,298.1	−0.125%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,300.4	+0.056%	$401K	$160K	20x	as long as short
Injective XPD/USDC PERPshort	+0.0033%	1h	1,332.8	+2.549%	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,297.6	−0.159%	$2.7M	$470K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,299.6	−0.006%	$169K	$6K	75x	as long as short
Gate XPD_USDT	+0.0104%	4h	1,300.1	+0.035%	$2.0M	$477K	100x	as long as short
Variational Omni XPD	+0.0171%	4h	1,299.5	−0.015%	$536K	$24K	—	as long as short
OKX XPD-USDT-SWAP	+0.0278%	8h	1,299.9	+0.018%	$321K	$472K	50x	as long as short
edgeX XPDUSDC	+0.0284%	4h	1,299.8	+0.014%	$37K	$206K	10x	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	+0.0316%	4h	1,298.9	−0.063%	$13.1M	$271K	100x	as long as short
Binance XPDUSDT	+0.0322%	4h	1,300.2	+0.042%	$3.8M	$4.7M	100x	as long as short
BloFin XPD-USDT	+0.0331%	4h	1,300.2	+0.042%	$30K	$20K	100x	as long as short
HTX XPD-USDTlong	+0.0451%	4h	1,299.7	long leg	$10K	$34K	20x
Bitget XPDUSDT	+0.0484%	4h	1,299.6	−0.007%	$5.0M	$242K	100x	as long as short
Aster XPDUSDT	+0.0539%	4h	1,298.6	−0.080%	$26K	$5K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1276%	4h	1,299.8	+0.011%	$338K	$715K	25x	as long as short