Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against Binance−0.028%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 2 days (all we have)+0.005%+$1 · spread now −0.028%, 7d avg −0.006%

Together, before fees+0.048%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.022% cheaper against Binance than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 2.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPDUSDT	1,320.4	0	get 0.0000% / 4h	3h 47m	$3.8M	$4.4M	100x
Short	Lighter XPD	1,320	0.0032	get 0.0004% / 1h	47m 13s	$407K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.028%Rate

Funding earned: $6.72
Price spread: −0.028% → −0.006%: −$2.18
Slippage, 4 orders: −$54.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$60.44
Costs to cover: 0.650%
Break-even: 70.0 days

Slippage from Binance: live order book, 5 min ago; Lighter: live order book, 18 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 Binance live order book, 5 min ago	1.48 bp	13.7 bp −$14	30.6 bp −$306	144.3 bp −$14.4K	doesn't fit
Sell Lighter live order book, 18 min ago	1.89 bp	22.0 bp −$22	46.6 bp −$466	doesn't fit	doesn't fit

XPD on 17 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
Binance XPDUSDTlong	0.0000%	4h	1,320.4	long leg	$3.8M	$4.4M	100x
Gate XPD_USDT	0.0000%	4h	1,320.2	−0.010%	$2.0M	$420K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,320.1	−0.019%	$13.2M	$338K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,319.7	−0.055%	$5.1M	$220K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,321.6	+0.094%	$547K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,318.4	−0.148%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,320.5	+0.010%	$10K	$33K	20x	as long as short
edgeX XPDUSDC	+0.0005%	4h	1,322.1	+0.131%	$38K	$206K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,318.1	−0.174%	—	—	—	as long as short
Aster XPDUSDT	+0.0010%	4h	1,318.8	−0.123%	$27K	$12K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:PALLADIUM	+0.0032%	1h	1,317.7	−0.202%	$2.7M	$523K	20x	as long as short
Lighter XPDshort	+0.0032%	1h	1,320	−0.028%	$407K	$154K	20x
BloFin XPD-USDT	+0.0032%	4h	1,320.7	+0.022%	$30K	$19K	100x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+0.941%	$16K	$20K	52x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,319.7	−0.051%	$172K	$5K	75x	as long as short
OKX XPD-USDT-SWAP	+0.0129%	8h	1,320.6	+0.017%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0432%	4h	1,320.9	+0.041%	$340K	$911K	25x	as long as short