Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.032%

Price spread now: Variational Omni against OKX+0.036%7-day average +0.002% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.036%, 7d avg +0.002%

Together, before fees−0.043%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.034% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPD-USDT-SWAP	1,292.8	0	get 0.0000% / 8h	6h 18m	$337K	$558K	50x
Short	Variational Omni XPD	1,293.3	0	get 0.0000% / 4h	2h 18m	$525K	$32K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → +0.002%: $3.37
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.63
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 30 min ago; Variational Omni: RFQ quote, 33 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 OKX live order book, 30 min ago	0.39 bp	20.2 bp −$20	87.3 bp −$873	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 33 min ago	6.07 bp	doesn't fit	50.7 bp −$507	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:PALLADIUM	−0.0125%	1h	1,290.9	−0.147%	$2.6M	$566K	20x	as long as short
edgeX XPDUSDC	−0.0002%	4h	1,293.4	+0.047%	$37K	$206K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,292.7	−0.010%	$26K	$7K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,292.6	−0.014%	$3.7M	$5.3M	100x	as long as short
OKX XPD-USDT-SWAPlong	0.0000%	8h	1,292.8	long leg	$337K	$558K	50x
Gate XPD_USDT	0.0000%	4h	1,293.1	+0.026%	$2.0M	$486K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,292	−0.061%	$13.5M	$452K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,292	−0.059%	$5.0M	$301K	100x	as long as short
Variational Omni XPDshort	0.0000%	4h	1,293.3	+0.036%	$525K	$32K	—
SunX XPD-USDT	0.0000%	4h	1,291.4	−0.110%	—	$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	1,292.8	−0.002%	$10K	$35K	20x	as long as short
BloFin XPD-USDT	+0.0006%	4h	1,293.3	+0.035%	$33K	$22K	100x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,291.4	−0.110%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,293.1	+0.023%	$398K	$159K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+3.094%	$16K	$20K	52x	as long as short
GRVT XPD_USDT_Perp	+0.0060%	4h	1,292.8	−0.003%	$336K	$622K	25x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,291.4	−0.112%	$168K	$7K	75x	as long as short