Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h −0.087%

Price spread now: MEXC against OKX−0.091%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.091%, 7d avg −0.049%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and MEXC is 0.042% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPT-USDT-SWAP	1,801.8	0.0813	pay 0.0813% / 8h	5h 29m	$900K	$525K	50x
Short	MEXC XPT_USDT	1,800.2	0.0658	get 0.0329% / 4h	1h 29m	$23.7M	$655K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$32.56
Price spread: −0.091% → −0.049%: −$4.25
Slippage, 4 orders: −$25.26
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$72.07
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from OKX: live order book, 31 min ago; MEXC: live order book, 4 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, 31 min ago	0.28 bp	9.4 bp −$9	23.4 bp −$234	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	5.73 bp	11.0 bp −$11	14.6 bp −$146	53.4 bp −$5,342	231.7 bp −$115.8K

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	1,799.7	−0.117%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,798.3	−0.193%	$231	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,798.8	−0.167%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,798	−0.212%	$13K	$29K	10x	as long as short
Aevo PLATINUM-PERP	+0.0104%	1h	1,801.8	0.000%	$306	—	10x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,816	+0.789%	$6K	$34K	52x	as long as short
Gate XPT_USDT	+0.0396%	4h	1,801.4	−0.021%	$637K	$430K	100x	as long as short
KuCoin XPTUSDTM	+0.0452%	4h	1,799.4	−0.133%	$201K	$17K	75x	as long as short
tradeXYZ xyz:PLATINUM	+0.0493%	1h	1,799.8	−0.111%	$3.6M	$977K	20x	as long as short
Variational Omni XPT	+0.0602%	4h	1,800.7	−0.060%	$280K	$227K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPTUSDT	+0.0608%	4h	1,800.3	−0.086%	$14K	$10K	20x	as long as short
MEXC XPT_USDTshort	+0.0658%	4h	1,800.2	−0.091%	$23.7M	$655K	100x
Paradex XPT-USD-PERP	+0.0661%	8h	1,801.3	−0.029%	$3K	—	5x	as long as short
Binance XPTUSDT	+0.0663%	4h	1,800.1	−0.097%	$4.3M	$3.8M	100x	as long as short
edgeX XPTUSDC	+0.0672%	4h	1,799.2	−0.147%	$39K	$283K	10x	as long as short
BloFin XPT-USDT	+0.0702%	4h	1,800.5	−0.074%	$85K	$68K	100x	as long as short
Bitget XPTUSDT	+0.0752%	4h	1,799.6	−0.122%	$1.3M	$393K	100x	as long as short
Extended XPT-USD	+0.0768%	1h	1,798.3	−0.193%	$199K	$616K	10x	as long as short
OKX XPT-USDT-SWAPlong	+0.0813%	8h	1,801.8	long leg	$900K	$525K	50x
Lighter XPT	+0.0864%	1h	1,801.8	0.000%	$357K	$15K	20x	as long as short
GRVT XPT_USDT_Perp	+0.1134%	4h	1,799.3	−0.137%	$205K	$846K	25x	as long as short