Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0529%/8h= +57.9% APRpaid last 24h +0.056%

Price spread now: OKX against Bitget+0.046%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.046%, 7d avg +0.065%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.145% in total (about 7.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPTUSDT	1,790.7	0.0076	pay 0.0038% / 4h	2h 19m	$1.3M	$609K	100x
Short	OKX XPT-USDT-SWAP	1,791.5	0.0605	get 0.0605% / 8h	6h 19m	$912K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $111.11
Price spread: +0.046% → +0.065%: −$1.82
Slippage, 4 orders: −$21.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $65.57
Costs to cover: 0.437%
Break-even: 2.9 days

Slippage from Bitget: live order book, 5 min ago; OKX: live order book, 5 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 Bitget live order book, 5 min ago	4.88 bp	12.8 bp −$13	25.1 bp −$251	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.28 bp	9.3 bp −$9	27.9 bp −$279	doesn't fit	doesn't fit

XPT on 21 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
edgeX XPTUSDC	−0.0014%	4h	1,791.3	+0.037%	$39K	$282K	10x	as long as short
Aster XPTUSDT	0.0000%	4h	1,791.9	+0.070%	$14K	$10K	20x	as long as short
Binance XPTUSDT	0.0000%	4h	1,791.6	+0.051%	$4.6M	$5.8M	100x	as long as short
MEXC XPT_USDT	0.0000%	4h	1,791.3	+0.032%	$23.0M	$715K	100x	as long as short
Variational Omni XPT	0.0000%	4h	1,791.3	+0.034%	$252K	$199K	—	as long as short
HTX XPT-USDT	0.0000%	4h	1,791.7	+0.059%	$11K	$39K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,789.6	−0.061%	$230	—	150x	as long as short
BloFin XPT-USDT	+0.0014%	4h	1,792.3	+0.092%	$87K	$74K	100x	as long as short
Injective XPT/USDC PERP	+0.0033%	1h	1,811.1	+1.143%	$6K	$34K	52x	as long as short
Vest PL-PERP	+0.0046%	1h	1,788.5	−0.121%	—	$50	25x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:PLATINUM	+0.0050%	1h	1,790.1	−0.032%	$3.4M	$1.1M	20x	as long as short
Gate XPT_USDT	+0.0062%	4h	1,792.2	+0.084%	$653K	$584K	100x	as long as short
Bitget XPTUSDTlong	+0.0076%	4h	1,790.7	long leg	$1.3M	$609K	100x
Paradex XPT-USD-PERP	+0.0089%	8h	1,791	+0.018%	$3K	—	5x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,789.9	−0.043%	$13K	$34K	10x	as long as short
KuCoin XPTUSDTM	+0.0100%	4h	1,791.4	+0.038%	$236K	$41K	75x	as long as short
Aevo PLATINUM-PERP	+0.0104%	1h	1,791	+0.017%	$304	—	10x	as long as short
GRVT XPT_USDT_Perp	+0.0126%	4h	1,790.9	+0.012%	$207K	$760K	25x	as long as short
Lighter XPT	+0.0328%	1h	1,792.4	+0.097%	$358K	$51K	20x	as long as short
Extended XPT-USD	+0.0440%	1h	1,790	−0.039%	$147K	$706K	10x	as long as short
OKX XPT-USDT-SWAPshort	+0.0605%	8h	1,791.5	+0.046%	$912K	$1.1M	50x