Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against KuCoin+1.295%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Injective

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

The price spread pays, funding is against you. Injective is 1.295% dearer against KuCoin than usual: you sell high and buy low (spread +1.295% now, against zero (this spread has no 7-day history yet)): +$130 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPDUSDTM	1,315.8	0.0100	pay 0.0050% / 4h	1h 04m	$171K	$4K	75x
Short	Injective XPD/USDC PERP	1,332.8	0.0033	get 0.0004% / 1h	4m 47s	$16K	$20K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now +1.295%Rate

Funding earned: −$14
Price spread: +1.295% → 0.000%: $129.51
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $103.49
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 59 min ago; Injective: no order-book sample. 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 KuCoin live order book, 59 min ago	21.29 bp	237.8 bp −$238	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	−0.0027%	1h	1,313.7	−0.157%	$2.7M	$523K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,316.7	+0.074%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,316.5	+0.052%	$2.0M	$414K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,316.6	+0.061%	$13.2M	$340K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,316.2	+0.037%	$541K	$12K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,315.7	−0.002%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,316.1	+0.024%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,313.9	−0.145%	—	—	—	as long as short
edgeX XPDUSDC	+0.0009%	4h	1,316.1	+0.024%	$38K	$206K	10x	as long as short
BloFin XPD-USDT	+0.0028%	4h	1,316.3	+0.039%	$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
Lighter XPD	+0.0032%	1h	1,316.7	+0.071%	$403K	$152K	20x	as long as short
Injective XPD/USDC PERPshort	+0.0033%	1h	1,332.8	+1.295%	$16K	$20K	52x
KuCoin XPDUSDTMlong	+0.0100%	4h	1,315.8	long leg	$171K	$4K	75x
Bitget XPDUSDT	+0.0114%	4h	1,315.6	−0.011%	$5.0M	$219K	100x	as long as short
Aster XPDUSDT	+0.0137%	4h	1,316.3	+0.044%	$27K	$12K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0152%	8h	1,316.2	+0.033%	$321K	$485K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0458%	4h	1,316.2	+0.035%	$338K	$1.0M	25x	as long as short