Funding arb · Price arb /

XPT

RWAall XPT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0336%/8h= +36.8% APRpaid last 24h +0.046%

Price spread now: Lighter against Binance−0.025%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.332%+$33 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now −0.025%, 7d avg +0.050%

Together, before fees+0.144%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.075% cheaper against Binance than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.050%). If the spread goes back, that is −$8 on $10k: about 18 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.332% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPTUSDT	1,793.5	0	get 0.0000% / 4h	2h 54m	$4.6M	$5.7M	100x
Short	Lighter XPT	1,793	0.0336	get 0.0042% / 1h	54m 43s	$358K	$49K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.025%Rate

Funding earned: $70.56
Price spread: −0.025% → +0.050%: −$7.53
Slippage, 4 orders: −$18.08
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $34.95
Costs to cover: 0.281%
Break-even: 3.5 days

Slippage from Binance: live order book, 13 min ago; Lighter: live order book, 30 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 Binance live order book, 13 min ago	0.42 bp	8.4 bp −$8	21.6 bp −$216	112.2 bp −$11.2K	doesn't fit
Sell Lighter live order book, 30 min ago	2.81 bp	7.5 bp −$7	16.0 bp −$160	doesn't fit	doesn't fit

XPT on 21 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 XPT-USDT	−0.0040%	4h	1,794.4	+0.052%	$88K	$73K	100x	as long as short
edgeX XPTUSDC	−0.0011%	4h	1,798.5	+0.279%	$39K	$281K	10x	as long as short
Aster XPTUSDT	0.0000%	4h	1,793.4	0.000%	$14K	$10K	20x	as long as short
Binance XPTUSDTlong	0.0000%	4h	1,793.5	long leg	$4.6M	$5.7M	100x
MEXC XPT_USDT	0.0000%	4h	1,793.4	−0.003%	$23.0M	$688K	100x	as long as short
Variational Omni XPT	0.0000%	4h	1,797.3	+0.213%	$247K	$226K	—	as long as short
HTX XPT-USDT	0.0000%	4h	1,798.5	+0.282%	$11K	$39K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,799.9	+0.359%	$231	—	150x	as long as short
GRVT XPT_USDT_Perp	+0.0012%	4h	1,798.4	+0.275%	$205K	$783K	25x	as long as short
Injective XPT/USDC PERP	+0.0033%	1h	1,800.3	+0.381%	$6K	$34K	52x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XPT_USDT	+0.0040%	4h	1,794.3	+0.047%	$653K	$580K	100x	as long as short
Vest PL-PERP	+0.0046%	1h	1,791.1	−0.131%	—	$50	25x	as long as short
tradeXYZ xyz:PLATINUM	+0.0050%	1h	1,790.5	−0.165%	$3.4M	$1.1M	20x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,793.5	+0.002%	$13K	$34K	10x	as long as short
KuCoin XPTUSDTM	+0.0100%	4h	1,792.9	−0.032%	$236K	$41K	75x	as long as short
Aevo PLATINUM-PERP	+0.0120%	1h	1,793.7	+0.013%	$305	—	10x	as long as short
Paradex XPT-USD-PERP	+0.0129%	8h	1,795.1	+0.093%	$3K	—	5x	as long as short
Bitget XPTUSDT	+0.0130%	4h	1,792.9	−0.029%	$1.3M	$630K	100x	as long as short
Extended XPT-USD	+0.0200%	1h	1,790.6	−0.159%	$153K	$764K	10x	as long as short
Lighter XPTshort	+0.0336%	1h	1,793	−0.025%	$358K	$49K	20x
OKX XPT-USDT-SWAP	+0.0715%	8h	1,793.4	−0.003%	$925K	$1.0M	50x	as long as short