Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against MEXC+2.983%7-day average — · you sell dearer than you buy

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

Long on MEXC 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 2.983% dearer against MEXC than usual: you sell high and buy low: +$298 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPD_USDT	1,294.2	0	get 0.0000% / 4h	18m 43s	$13.0M	$276K	100x
Short	Injective XPD/USDC PERP	1,332.8	0.0033	get 0.0004% / 1h	18m 43s	$16K	$20K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now +2.983%Rate

Funding earned: $7
Price spread: +2.983% → 0.000%: $298.33
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $305.31
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	2.71 bp	2.7 bp −$3	4.5 bp −$45	86.4 bp −$8,643	310.6 bp −$155.3K
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
BloFin XPD-USDT	−0.0052%	4h	1,293.7	−0.035%	$31K	$21K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,294.3	+0.009%	$3.7M	$5.0M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,294.6	+0.031%	$2.0M	$479K	100x	as long as short
MEXC XPD_USDTlong	0.0000%	4h	1,294.2	long leg	$13.0M	$276K	100x
Variational Omni XPD	0.0000%	4h	1,293.3	−0.068%	$531K	$26K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,291.8	−0.187%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,293.4	−0.063%	$10K	$35K	20x	as long as short
edgeX XPDUSDC	+0.0006%	4h	1,291.9	−0.176%	$37K	$205K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,292.5	−0.132%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,293.4	−0.061%	$398K	$161K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERPshort	+0.0033%	1h	1,332.8	+2.983%	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,291.6	−0.200%	$2.6M	$524K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,293.7	−0.038%	$168K	$7K	75x	as long as short
Aster XPDUSDT	+0.0216%	4h	1,293.7	−0.041%	$27K	$6K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0222%	8h	1,293.8	−0.030%	$324K	$486K	50x	as long as short
Bitget XPDUSDT	+0.0434%	4h	1,292.8	−0.110%	$5.0M	$252K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0738%	4h	1,293.3	−0.068%	$335K	$672K	25x	as long as short