Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective−3.409%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 KuCoin

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

Funding pays, the price is against you. KuCoin is 3.409% cheaper against Injective than usual: you would sell low and buy high (spread −3.409% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$341 on $10k: about 6 months of funding at the current rate (+$2 a day).

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	42m 50s	$16K	$20K	52x
Short	KuCoin XPDUSDTM	1,287.4	0.0100	get 0.0050% / 4h	3h 42m	$167K	$7K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −3.409%Rate

Funding earned: $14
Price spread: −3.409% → 0.000%: −$340.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$338.96
Costs to cover: 0.120%
Break-even: 176.5 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 48 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 KuCoin live order book, 48 min ago	31.51 bp	96.3 bp −$96	590.7 bp −$5,907	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	−0.0402%	1h	1,284.8	−3.601%	$2.6M	$566K	20x	as long as short
edgeX XPDUSDC	−0.0014%	4h	1,290.7	−3.160%	$37K	$207K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,288.2	−3.344%	$27K	$6K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,287.7	−3.385%	$3.6M	$5.1M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,287.4	−3.405%	$2.0M	$478K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,287.7	−3.381%	$12.9M	$336K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,291.2	−3.121%	$525K	$32K	—	as long as short
GRVT XPD_USDT_Perp	0.0000%	4h	1,289.4	−3.253%	$335K	$639K	25x	as long as short
SunX XPD-USDT	0.0000%	4h	1,286.2	−3.499%	—	$1.6M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,290.2	−3.199%	$10K	$35K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,285.6	−3.538%	—	—	—	as long as short
BloFin XPD-USDT	+0.0016%	4h	1,287.9	−3.368%	$32K	$21K	100x	as long as short
Lighter XPD	+0.0032%	1h	1,287.6	−3.391%	$396K	$161K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
KuCoin XPDUSDTMshort	+0.0100%	4h	1,287.4	−3.409%	$167K	$7K	75x
OKX XPD-USDT-SWAP	+0.0126%	8h	1,287.1	−3.429%	$336K	$506K	50x	as long as short
Bitget XPDUSDT	+0.0248%	4h	1,286.9	−3.448%	$5.0M	$261K	100x	as long as short