Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h +0.005%

Price spread now: tradeXYZ against MEXC−0.117%7-day average −0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on MEXC Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.117%, 7d avg −0.132%

Together, before fees+0.189%+ Points / potential airdroptradeXYZ: Active · farm board+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.132%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.117%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPD_USDT	1,296.7	0	get 0.0000% / 4h	2h 05m	$13.6M	$453K	100x
Short	tradeXYZ xyz:PALLADIUM	1,295.2	−0.0090	pay 0.0011% / 1h	5m 13s	$2.6M	$566K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$18.9
Price spread: −0.117% → −0.132%: $1.52
Slippage, 4 orders: −$24.01
Fee MEXC: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$59.4
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; tradeXYZ: live order book, 6 min ago.

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, 1 min ago	3.74 bp	6.3 bp −$6	7.5 bp −$75	18.6 bp −$1,858	284.4 bp −$142.2K
Sell tradeXYZ live order book, 6 min ago	1.55 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit

XPD on 17 exchanges

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:PALLADIUMshort	−0.0090%	1h	1,295.2	−0.117%	$2.6M	$566K	20x
BloFin XPD-USDT	−0.0010%	4h	1,296.5	−0.018%	$32K	$23K	100x	as long as short
Aster XPDUSDT	0.0000%	4h	1,296.5	−0.018%	$27K	$7K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,296.1	−0.049%	$3.7M	$5.3M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,297.5	+0.060%	$340K	$564K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,297.1	+0.026%	$2.0M	$490K	100x	as long as short
MEXC XPD_USDTlong	0.0000%	4h	1,296.7	long leg	$13.6M	$453K	100x
Bitget XPDUSDT	0.0000%	4h	1,296.4	−0.022%	$5.0M	$306K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,296.9	+0.014%	$526K	$32K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,294	−0.211%	—	$1.6M	10x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XPD-USDT	0.0000%	4h	1,294.6	−0.160%	$10K	$35K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,295	−0.130%	—	—	—	as long as short
edgeX XPDUSDC	+0.0009%	4h	1,293.7	−0.232%	$37K	$206K	10x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.782%	$16K	$20K	52x	as long as short
Lighter XPD	+0.0056%	1h	1,296.2	−0.040%	$399K	$159K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,295.9	−0.066%	$168K	$7K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0198%	4h	1,295.5	−0.093%	$335K	$626K	25x	as long as short