Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0191%/8h= +20.9% APRpaid last 24h +0.015%

Price spread now: OKX against Binance−0.109%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$600.597% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.109%, 7d avg −0.017%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.092% cheaper against Binance than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.017%). If the spread goes back, that is −$9 on $10k: about 39 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.154% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPDUSDT	1,294	0	get 0.0000% / 4h	7m 34s	$3.7M	$5.0M	100x
Short	OKX XPD-USDT-SWAP	1,292.6	0.0191	get 0.0191% / 8h	7m 34s	$326K	$491K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.109%Rate

Funding earned: $40.06
Price spread: −0.109% → −0.017%: −$9.23
Slippage, 4 orders: −$39.68
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$28.85
Costs to cover: 0.597%
Break-even: 12.0 days

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 28 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, 15 min ago	0.54 bp	11.7 bp −$12	31.9 bp −$319	146.5 bp −$14.7K	doesn't fit
Sell OKX live order book, 28 min ago	2.70 bp	19.5 bp −$20	99.2 bp −$992	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
edgeX XPDUSDC	−0.0016%	4h	1,297.9	+0.299%	$37K	$205K	10x	as long as short
Binance XPDUSDTlong	0.0000%	4h	1,294	long leg	$3.7M	$5.0M	100x
Gate XPD_USDT	0.0000%	4h	1,293.3	−0.058%	$2.0M	$483K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,293	−0.081%	$13.0M	$285K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,298	+0.305%	$532K	$27K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,291.8	−0.175%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,294	−0.001%	$10K	$35K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,291.8	−0.168%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,294	−0.001%	$398K	$161K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.998%	$16K	$20K	52x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	+0.0042%	4h	1,297.1	+0.240%	$31K	$21K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,290.4	−0.279%	$2.6M	$541K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,292.3	−0.131%	$168K	$7K	75x	as long as short
Aster XPDUSDT	+0.0150%	4h	1,293	−0.076%	$27K	$6K	20x	as long as short
OKX XPD-USDT-SWAPshort	+0.0191%	8h	1,292.6	−0.109%	$326K	$491K	50x
Bitget XPDUSDT	+0.0388%	4h	1,293.5	−0.036%	$5.0M	$255K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0698%	4h	1,296.8	+0.218%	$336K	$672K	25x	as long as short