Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Lighter−0.080%7-day average −0.011% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.080%, 7d avg −0.011%

Together, before fees+0.046%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$5 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 Variational Omni is 0.068% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,302.2	0.0032	pay 0.0004% / 1h	41m 09s	$401K	$155K	20x
Short	Variational Omni XPD	1,301.2	0	get 0.0000% / 4h	41m 09s	$537K	$24K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.080%Rate

Funding earned: −$6.72
Price spread: −0.080% → −0.011%: −$6.82
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.54
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 9 min ago; Variational Omni: RFQ quote, 18 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, 9 min ago	6.53 bp	14.3 bp −$14	37.1 bp −$371	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 18 min ago	3.30 bp	doesn't fit	38.2 bp −$382	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
BloFin XPD-USDT	−0.0025%	4h	1,302.6	+0.028%	$30K	$20K	100x	as long as short
edgeX XPDUSDC	−0.0017%	4h	1,302.2	+0.001%	$37K	$205K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,300.9	−0.098%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,302.3	+0.008%	$3.8M	$4.6M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,301.9	−0.023%	$323K	$468K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,302.2	−0.002%	$2.0M	$455K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,301.6	−0.048%	$13.1M	$268K	100x	as long as short
Variational Omni XPDshort	0.0000%	4h	1,301.2	−0.080%	$537K	$24K	—
SunX XPD-USDT	0.0000%	4h	1,299.3	−0.220%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,301.7	−0.036%	$9K	$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	1,299.8	−0.187%	—	—	—	as long as short
Lighter XPDlong	+0.0032%	1h	1,302.2	long leg	$401K	$155K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.350%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0048%	4h	1,300.7	−0.114%	$5.0M	$239K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,300	−0.169%	$2.7M	$509K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,301.3	−0.073%	$169K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0350%	4h	1,301.7	−0.039%	$337K	$729K	25x	as long as short