Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.024%

Price spread now: edgeX against tradeXYZ+0.131%106s7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.487% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.131%, 7d avg +0.115%

Together, before fees−0.172%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.115%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:PALLADIUM	1,316	0.0050	pay 0.0006% / 1h	13m 36s	$2.7M	$523K	20x
Short	edgeX XPDUSDC	1,317.7	0.0002	get 0.0001% / 4h	13m 36s	$38K	$206K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against tradeXYZ. 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 tradeXYZbpFee edgeXbpOrdersPrice spread, now +0.131%Rate

Funding earned: −$10
Price spread: +0.131% → +0.115%: $1.52
Slippage, 4 orders: −$21.66
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$57.14
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; edgeX: live order book, 63 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 tradeXYZ live order book, 4 min ago	1.14 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 63 min ago	5.37 bp	10.8 bp −$11	121.7 bp −$1,217	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
Binance XPDUSDT	0.0000%	4h	1,318.3	+0.172%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,318	+0.151%	$2.0M	$416K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,317.5	+0.115%	$13.2M	$339K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,317.7	+0.128%	$546K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,316.3	+0.021%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,317.6	+0.122%	$10K	$33K	20x	as long as short
edgeX XPDUSDCshort	+0.0002%	4h	1,317.7	+0.131%	$38K	$206K	10x
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,316	−0.002%	—	—	—	as long as short
BloFin XPD-USDT	+0.0013%	4h	1,318.2	+0.163%	$30K	$19K	100x	as long as short
Lighter XPD	+0.0032%	1h	1,318.5	+0.190%	$404K	$153K	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 PERP	+0.0033%	1h	1,332.8	+1.277%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0038%	4h	1,317.3	+0.102%	$5.0M	$219K	100x	as long as short
tradeXYZ xyz:PALLADIUMlong	+0.0050%	1h	1,316	long leg	$2.7M	$523K	20x
Aster XPDUSDT	+0.0094%	4h	1,317.7	+0.128%	$27K	$12K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,317.5	+0.110%	$172K	$4K	75x	as long as short
OKX XPD-USDT-SWAP	+0.0165%	8h	1,317.2	+0.091%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0490%	4h	1,317.3	+0.102%	$339K	$944K	25x	as long as short