Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: Gate against Injective−1.354%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 Gate

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 Gate is 1.354% cheaper against Injective than usual: you would sell low and buy high (−$135 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	34m 26s	$16K	$20K	52x
Short	Gate XPD_USDT	1,314.8	0	get 0.0000% / 4h	1h 34m	$1.9M	$409K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.354%Rate

Funding earned: −$7
Price spread: −1.354% → 0.000%: −$135.35
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$157.37
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	0.34 bp	25.4 bp −$25	123.8 bp −$1,238	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
Gate XPD_USDTshort	0.0000%	4h	1,314.8	−1.354%	$1.9M	$409K	100x
SunX XPD-USDT	0.0000%	4h	1,313.3	−1.462%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,314.7	−1.358%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,312	−1.562%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,315.3	−1.313%	$400K	$147K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
Variational Omni XPD	+0.0035%	4h	1,314.9	−1.344%	$541K	$14K	—	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,312.5	−1.523%	$2.7M	$484K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,313.3	−1.465%	$171K	$4K	75x	as long as short
BloFin XPD-USDT	+0.0124%	4h	1,314.9	−1.342%	$30K	$19K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XPDUSDT	+0.0131%	4h	1,314.3	−1.385%	$3.8M	$4.2M	100x	as long as short
MEXC XPD_USDT	+0.0132%	4h	1,314.4	−1.384%	$13.2M	$338K	100x	as long as short
OKX XPD-USDT-SWAP	+0.0161%	8h	1,314.4	−1.381%	$321K	$484K	50x	as long as short
edgeX XPDUSDC	+0.0165%	4h	1,315.3	−1.312%	$38K	$205K	10x	as long as short
Bitget XPDUSDT	+0.0252%	4h	1,313.9	−1.416%	$5.0M	$218K	100x	as long as short
Aster XPDUSDT	+0.0281%	4h	1,313.6	−1.438%	$27K	$12K	20x	as long as short
GRVT XPD_USDT_Perp	+0.0630%	4h	1,315	−1.336%	$338K	$1.0M	25x	as long as short