Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h −0.010%

Price spread now: OKX against Injective−0.938%68s7-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 OKX

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. OKX is 0.938% cheaper against Injective than usual: you would sell low and buy high (spread −0.938% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$94 on $10k: about 30 days of funding at the current rate (+$3 a day). The two prices were read 68 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	Injective XPD/USDC PERP	1,332.8	0.0033	pay 0.0004% / 1h	54m 05s	$16K	$20K	52x
Short	OKX XPD-USDT-SWAP	1,320.3	0.0137	get 0.0137% / 8h	7h 54m	$321K	$488K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.938%Rate

Funding earned: $21.69
Price spread: −0.938% → 0.000%: −$93.79
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$82.12
Costs to cover: 0.100%
Break-even: 33.5 days

Slippage unknown: Injective: no order-book sample; OKX: live order book, 17 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 OKX live order book, 17 min ago	0.76 bp	14.6 bp −$15	83.2 bp −$832	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	−0.0053%	1h	1,319	−1.035%	$2.7M	$523K	20x	as long as short
BloFin XPD-USDT	−0.0053%	4h	1,320.7	−0.909%	$30K	$19K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,321.3	−0.859%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,321	−0.886%	$2.0M	$415K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,320.9	−0.895%	$13.2M	$337K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,320	−0.960%	$5.1M	$219K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,321.3	−0.860%	$547K	$16K	—	as long as short
GRVT XPD_USDT_Perp	0.0000%	4h	1,321	−0.887%	$340K	$915K	25x	as long as short
SunX XPD-USDT	0.0000%	4h	1,319.7	−0.984%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,320.7	−0.907%	$10K	$33K	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	1,319.6	−0.991%	—	—	—	as long as short
edgeX XPDUSDC	+0.0014%	4h	1,319.1	−1.029%	$38K	$205K	10x	as long as short
Aster XPDUSDT	+0.0024%	4h	1,320	−0.959%	$27K	$12K	20x	as long as short
Lighter XPD	+0.0032%	1h	1,321.7	−0.833%	$407K	$154K	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	1,319.8	−0.972%	$172K	$4K	75x	as long as short
OKX XPD-USDT-SWAPshort	+0.0137%	8h	1,320.3	−0.938%	$321K	$488K	50x