Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.090%

Price spread now: Lighter against KuCoin+0.015%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now +0.015%, 7d avg +0.067%

Together, before fees+0.286%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.051% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.015% now, against its 7-day average of +0.067%). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPTUSDTM	1,816.1	0.0100	pay 0.0050% / 4h	40m 45s	$201K	$19K	75x
Short	Lighter XPT	1,816.4	0.0336	get 0.0042% / 1h	40m 45s	$359K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.015%Rate

Funding earned: $49.56
Price spread: +0.015% → +0.067%: −$5.14
Slippage, 4 orders: −$53.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.94
Costs to cover: 0.654%
Break-even: 10.0 days

Slippage from KuCoin: live order book, 14 min ago; Lighter: live order book, 29 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 KuCoin live order book, 14 min ago	7.90 bp	19.2 bp −$19	235.7 bp −$2,357	doesn't fit	doesn't fit
Sell Lighter live order book, 29 min ago	2.20 bp	7.3 bp −$7	30.0 bp −$300	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
HTX XPT-USDT	0.0000%	4h	1,815.3	−0.045%	$10K	$36K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,813.2	−0.160%	$233	—	150x	as long as short
Extended XPT-USD	+0.0032%	1h	1,813.9	−0.125%	$207K	$454K	10x	as long as short
Vest PL-PERP	+0.0046%	1h	1,813.9	−0.122%	—	$50	25x	as long as short
tradeXYZ xyz:PLATINUM	+0.0050%	1h	1,814.4	−0.095%	$3.6M	$1.1M	20x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,814.8	−0.073%	$17K	$20K	10x	as long as short
KuCoin XPTUSDTMlong	+0.0100%	4h	1,816.1	long leg	$201K	$19K	75x
Aevo PLATINUM-PERP	+0.0104%	1h	1,815.5	−0.034%	$309	—	10x	as long as short
Variational Omni XPT	+0.0184%	4h	1,815.8	−0.020%	$287K	$329K	—	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,833.1	+0.937%	$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	+0.0238%	4h	1,816.3	+0.008%	$689K	$345K	100x	as long as short
MEXC XPT_USDT	+0.0240%	4h	1,814.8	−0.073%	$24.1M	$644K	100x	as long as short
Binance XPTUSDT	+0.0241%	4h	1,815.7	−0.024%	$4.3M	$4.1M	100x	as long as short
edgeX XPTUSDC	+0.0262%	4h	1,815.5	−0.034%	$40K	$284K	10x	as long as short
Paradex XPT-USD-PERP	+0.0271%	8h	1,815.9	−0.012%	$3K	—	5x	as long as short
BloFin XPT-USDT	+0.0295%	4h	1,815.5	−0.037%	$85K	$63K	100x	as long as short
Aster XPTUSDT	+0.0311%	4h	1,815.6	−0.031%	$15K	$12K	20x	as long as short
Lighter XPTshort	+0.0336%	1h	1,816.4	+0.015%	$359K	$19K	20x
Bitget XPTUSDT	+0.0336%	4h	1,815	−0.063%	$1.2M	$325K	100x	as long as short
GRVT XPT_USDT_Perp	+0.0580%	4h	1,816	−0.005%	$206K	$1.1M	25x	as long as short
OKX XPT-USDT-SWAP	+0.0705%	8h	1,815.9	−0.012%	$917K	$523K	50x	as long as short