Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.003%

Price spread now: Bitget against Injective−2.125%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bitget

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 2.125% cheaper against Injective than usual: you would sell low and buy high (−$212 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XPD/USDC PERP	1,332.8	0.0033	pay 0.0004% / 1h	38m 44s	$16K	$20K	52x
Short	Bitget XPDUSDT	1,304.5	0	get 0.0000% / 4h	1h 38m	$5.0M	$219K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −2.125%Rate

Funding earned: −$7
Price spread: −2.125% → 0.000%: −$212.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$231.5
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	3.91 bp	14.0 bp −$14	25.7 bp −$257	doesn't fit	doesn't fit

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
tradeXYZ xyz:PALLADIUM	−0.0090%	1h	1,303.9	−2.168%	$2.7M	$494K	20x	as long as short
BloFin XPD-USDT	−0.0019%	4h	1,304.9	−2.093%	$30K	$20K	100x	as long as short
edgeX XPDUSDC	−0.0001%	4h	1,303.9	−2.168%	$38K	$205K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,305.1	−2.080%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,305.4	−2.054%	$3.7M	$4.5M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,304.9	−2.093%	$317K	$468K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,304.4	−2.132%	$2.0M	$453K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,305.3	−2.066%	$13.2M	$268K	100x	as long as short
Bitget XPDUSDTshort	0.0000%	4h	1,304.5	−2.125%	$5.0M	$219K	100x
Variational Omni XPD	0.0000%	4h	1,304	−2.161%	$538K	$16K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XPD-USDT	0.0000%	4h	1,304.5	−2.127%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,304.1	−2.153%	$9K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,303.7	−2.187%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,305.7	−2.033%	$403K	$155K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
KuCoin XPDUSDTM	+0.0100%	4h	1,304.2	−2.149%	$170K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0172%	4h	1,303.9	−2.168%	$338K	$772K	25x	as long as short