Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: SunX against Lighter−0.241%7-day average −0.025% · you buy dearer than you sell

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

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)+0.209%+$21 · spread now −0.241%, 7d avg −0.025%

Together, before fees+0.057%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.216% cheaper against Lighter than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,300.1	0.0032	pay 0.0004% / 1h	47m 03s	$401K	$158K	20x
Short	SunX XPD-USDT	1,297	0	get 0.0000% / 4h	3h 47m	—	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Lighter. 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 LighterbpFee SunXbpOrdersPrice spread, now −0.241%Rate

Funding earned: −$6.72
Price spread: −0.241% → −0.025%: −$21.62
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$36.34
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 63 min ago; SunX: live order book, 9 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 Lighter live order book, 63 min ago	6.53 bp	14.3 bp −$14	37.1 bp −$371	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	900.03 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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
Variational Omni XPD	0.0000%	4h	1,299.3	−0.061%	$536K	$24K	—	as long as short
SunX XPD-USDTshort	0.0000%	4h	1,297	−0.241%	—	$1.8M	10x
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,297.5	−0.201%	—	—	—	as long as short
edgeX XPDUSDC	+0.0030%	4h	1,299.8	−0.025%	$37K	$206K	10x	as long as short
Lighter XPDlong	+0.0032%	1h	1,300.1	long leg	$401K	$158K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.515%	$16K	$20K	52x	as long as short
MEXC XPD_USDT	+0.0044%	4h	1,298.7	−0.107%	$13.1M	$268K	100x	as long as short
Binance XPDUSDT	+0.0049%	4h	1,300	−0.005%	$3.8M	$4.7M	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,297	−0.238%	$2.7M	$493K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,299.4	−0.052%	$169K	$5K	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	+0.0108%	4h	1,300.5	+0.034%	$30K	$20K	100x	as long as short
OKX XPD-USDT-SWAP	+0.0133%	8h	1,299.8	−0.023%	$321K	$474K	50x	as long as short
Aster XPDUSDT	+0.0203%	4h	1,298.5	−0.124%	$26K	$5K	20x	as long as short
Gate XPD_USDT	+0.0222%	4h	1,299.9	−0.013%	$2.0M	$469K	100x	as long as short
Bitget XPDUSDT	+0.0268%	4h	1,297.4	−0.205%	$5.0M	$240K	100x	as long as short
HTX XPD-USDT	+0.0480%	4h	1,299.8	−0.022%	$9K	$34K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1338%	4h	1,299.6	−0.040%	$338K	$720K	25x	as long as short