Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0729%/8h= −79.8% APRpaid last 24h −0.091%

Price spread now: Binance against OKX+0.021%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now +0.021%, 7d avg −0.032%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.053% dearer against OKX than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.032%): +$5 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.199% in total) that is about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.199% in total (about -10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPT-USDT-SWAP	1,801.3	0.0729	pay 0.0729% / 8h	6h 59m	$928K	$1.0M	50x
Short	Binance XPTUSDT	1,801.7	0	get 0.0000% / 4h	2h 59m	$4.6M	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.021%Rate

Funding earned: −$152.99
Price spread: +0.021% → −0.032%: $5.27
Slippage, 4 orders: −$17.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$184.76
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 8 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 OKX live order book, 2 min ago	0.28 bp	10.8 bp −$11	28.5 bp −$285	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.42 bp	8.9 bp −$9	23.5 bp −$235	125.7 bp −$12.6K	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
Aster XPTUSDT	0.0000%	4h	1,801.4	+0.006%	$14K	$10K	20x	as long as short
Binance XPTUSDTshort	0.0000%	4h	1,801.7	+0.021%	$4.6M	$5.7M	100x
MEXC XPT_USDT	0.0000%	4h	1,801.5	+0.008%	$23.1M	$686K	100x	as long as short
Variational Omni XPT	0.0000%	4h	1,800.4	−0.052%	$248K	$226K	—	as long as short
GRVT XPT_USDT_Perp	0.0000%	4h	1,801.2	−0.006%	$206K	$783K	25x	as long as short
HTX XPT-USDT	0.0000%	4h	1,802.3	+0.056%	$11K	$39K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,799.9	−0.078%	$231	—	150x	as long as short
Gate XPT_USDT	+0.0032%	4h	1,802.6	+0.074%	$656K	$584K	100x	as long as short
edgeX XPTUSDC	+0.0046%	4h	1,803.1	+0.102%	$39K	$282K	10x	as long as short
Vest PL-PERP	+0.0046%	1h	1,797.8	−0.194%	—	$50	25x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:PLATINUM	+0.0050%	1h	1,799.8	−0.083%	$3.4M	$1.1M	20x	as long as short
BloFin XPT-USDT	+0.0055%	4h	1,801.1	−0.009%	$88K	$73K	100x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,799.7	−0.087%	$13K	$34K	10x	as long as short
KuCoin XPTUSDTM	+0.0100%	4h	1,800.8	−0.027%	$237K	$41K	75x	as long as short
Paradex XPT-USD-PERP	+0.0126%	8h	1,801.2	−0.003%	$3K	—	5x	as long as short
Bitget XPTUSDT	+0.0136%	4h	1,800.6	−0.038%	$1.3M	$628K	100x	as long as short
Aevo PLATINUM-PERP	+0.0136%	1h	1,801.6	+0.019%	$306	—	10x	as long as short
Extended XPT-USD	+0.0176%	1h	1,800	−0.073%	$162K	$755K	10x	as long as short
Lighter XPT	+0.0216%	1h	1,802.2	+0.050%	$360K	$49K	20x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,800.3	−0.057%	$6K	$34K	52x	as long as short
OKX XPT-USDT-SWAPlong	+0.0729%	8h	1,801.3	long leg	$928K	$1.0M	50x