Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

XPD

RWAAll XPD markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
KalshiKXPALLADIUMPERP
1,213+0.0123pay 0.0370% / 24h20h 17m$427K$1.1M4.5xLong Kalshi
SHORT
LighterXPD
1,214.5+0.0320get 0.0040% / 1h17m 41s$435K$26K20xShort Lighter7d free
Price gap+0.124%
Funding gap+0.0197% /8h

Funding pays +$6 a day on $10k, but the gap is 0.038% under its 7d average: −$4 if it goes back, about 15 hours of funding. At the last 7 days' pace that is about 7 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$97+0.0197% /8h now · paid +0.972% over the last 7D
Price−$4spread +0.124% now, avg +0.162% → −0.038% if it goes back
Costs−$340.336% of $10k · taker + slippage, in and out
Result+$60+0.60%+ Points / potential airdropLighter: Season 3 · farm boardWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Lighter price against Kalshinow
RANGE STATS · 7D
Now+0.124%
Average—
Range—
Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

XPD on 17 exchanges

lowest funding first

Before you open

2 ok · 4 to watch
  • OK: Fits both order books10.2 / 9.0 bp
    Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
  • Note: Margin at max leverage$2,181 + $500
    Kalshi 4.5x, Lighter 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ24h / 1h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: +$5.90Long Kalshi: 1 payment, −$3.70; short Lighter: 24 payments, +$9.60.
  • Watch: Gap narrower than usual+0.124% vs +0.162%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$427K vs $435K OI
    Kalshi sets your exit cost. Check its book before closing.
  • OK: Points on a legLighter Season 3
    Volume here counts toward the points program.
  • Watch: KYCKalshi Yes · Lighter No
    A US-regulated exchange: full KYC (ID, address, SSN when asked) before any trade.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0463%/8h × 21 periods+$97.19
Price spread+0.124% → +0.162% (7d avg)−$3.81
Slippage, 4 orderslive order books−$23.62
Fee Kalshi bp × 2 orders−$10.00
Fee Lighter bp × 2 orders$0.00
Net · 7 days · $10k+$59.76
Costs to cover0.336%Break-even2.7 days
Slippage: Kalshi: live order book, 1 min ago; Lighter: live order book, 57 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGKalshi2.8810.2 bp−$1016.0 bp−$160doesn’t fitdoesn’t fit
SELL · SHORTLighter1.659.0 bp−$920.0 bp−$200doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

XPD news

posts that mention XPD or Palladium, from every exchangeSearch all news →
09-29 11:00gTrade (Gains Network)ListingXPD/USD no longer reported ($XPD) seen by our collector
09-23 13:33KalshiListingnew market KXPALLADIUMPERP ($XPD) seen by our collector