Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0725%/8h= +79.4% APRpaid last 24h +0.022%

Price spread now: Variational Omni against tradeXYZ+0.002%7-day average +0.102% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now +0.002%, 7d avg +0.102%

Together, before fees+0.070%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.099% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.102%). If the spread goes back, that is −$10 on $10k: about 11 hours of funding at the current rate (+$22 a day).

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.000% in total (about -0.0% 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	tradeXYZ xyz:PLATINUM	1,790	0.0536	pay 0.0067% / 1h	25m 37s	$3.6M	$1.1M	20x
Short	Variational Omni XPT	1,790	0.1261	get 0.0630% / 4h	2h 25m	$271K	$193K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.002%Rate

Funding earned: $152.22
Price spread: +0.002% → +0.102%: −$9.94
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $124.28
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: tradeXYZ: live order book, 3 min ago; Variational Omni: RFQ quote, 23 min ago. Net counts fees only.

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 tradeXYZ live order book, 3 min ago	1.96 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 23 min ago	2.89 bp	doesn't fit	25.0 bp −$250	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	1,788.1	−0.104%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,786.2	−0.210%	$229	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,787.2	−0.156%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,790.6	+0.032%	$13K	$31K	10x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,813.8	+1.331%	$6K	$34K	52x	as long as short
Aevo PLATINUM-PERP	+0.0520%	1h	1,791.1	+0.061%	$304	—	10x	as long as short
tradeXYZ xyz:PLATINUMlong	+0.0536%	1h	1,790	long leg	$3.6M	$1.1M	20x
KuCoin XPTUSDTM	+0.0778%	4h	1,791.9	+0.104%	$248K	$40K	75x	as long as short
Paradex XPT-USD-PERP	+0.0791%	8h	1,792.3	+0.128%	$3K	—	5x	as long as short
Gate XPT_USDT	+0.0900%	4h	1,793.2	+0.180%	$719K	$523K	100x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPT	+0.1040%	1h	1,794	+0.223%	$355K	$19K	20x	as long as short
Aster XPTUSDT	+0.1257%	4h	1,790.1	+0.005%	$14K	$9K	20x	as long as short
Variational Omni XPTshort	+0.1261%	4h	1,790	+0.002%	$271K	$193K	—
Extended XPT-USD	+0.1312%	1h	1,788.8	−0.066%	$206K	$627K	10x	as long as short
Binance XPTUSDT	+0.1314%	4h	1,792.6	+0.147%	$4.5M	$4.5M	100x	as long as short
MEXC XPT_USDT	+0.1316%	4h	1,790	−0.001%	$23.4M	$616K	100x	as long as short
edgeX XPTUSDC	+0.1319%	4h	1,788	−0.110%	$39K	$281K	10x	as long as short
OKX XPT-USDT-SWAP	+0.1322%	8h	1,793.2	+0.179%	$996K	$683K	50x	as long as short
Bitget XPTUSDT	+0.1340%	4h	1,790.8	+0.046%	$1.4M	$498K	100x	as long as short
BloFin XPT-USDT	+0.1371%	4h	1,789.4	−0.032%	$94K	$68K	100x	as long as short
GRVT XPT_USDT_Perp	+0.1644%	4h	1,786.8	−0.179%	$205K	$810K	25x	as long as short