Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against SunX+2.697%7-day average — · you sell dearer than you buy

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

Long on SunX 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 2.697% dearer against SunX than usual: you sell high and buy low: +$270 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	SunX XPD-USDT	1,297.8	0	get 0.0000% / 4h	2h 54m	—	$1.8M	10x
Short	Injective XPD/USDC PERP	1,332.8	0.0033	get 0.0004% / 1h	54m 55s	$16K	$20K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now +2.697%Rate

Funding earned: $7
Price spread: +2.697% → 0.000%: $269.69
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $268.67
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 11 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 SunX live order book, 11 min ago	900.02 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
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
SunX XPD-USDTlong	0.0000%	4h	1,297.8	long leg	—	$1.8M	10x
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,298.1	+0.020%	—	—	—	as long as short
Injective XPD/USDC PERPshort	+0.0033%	1h	1,332.8	+2.697%	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,297.6	−0.015%	$2.7M	$472K	20x	as long as short
Lighter XPD	+0.0064%	1h	1,300.8	+0.231%	$401K	$160K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,297.8	−0.001%	$169K	$6K	75x	as long as short
Gate XPD_USDT	+0.0122%	4h	1,300.3	+0.190%	$2.0M	$469K	100x	as long as short
Variational Omni XPD	+0.0215%	4h	1,300.3	+0.192%	$536K	$24K	—	as long as short
OKX XPD-USDT-SWAP	+0.0296%	8h	1,299.8	+0.154%	$321K	$472K	50x	as long as short
edgeX XPDUSDC	+0.0331%	4h	1,299.9	+0.158%	$37K	$205K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPD_USDT	+0.0346%	4h	1,298.3	+0.039%	$13.1M	$268K	100x	as long as short
Binance XPDUSDT	+0.0350%	4h	1,300.4	+0.196%	$3.8M	$4.7M	100x	as long as short
BloFin XPD-USDT	+0.0402%	4h	1,300.7	+0.221%	$30K	$20K	100x	as long as short
HTX XPD-USDT	+0.0461%	4h	1,299.6	+0.142%	$10K	$34K	20x	as long as short
Bitget XPDUSDT	+0.0514%	4h	1,299.4	+0.126%	$5.0M	$242K	100x	as long as short
Aster XPDUSDT	+0.0585%	4h	1,298.8	+0.079%	$26K	$5K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1258%	4h	1,299.7	+0.146%	$338K	$715K	25x	as long as short