Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.011%

Price spread now: tradeXYZ against Binance−0.170%7-day average −0.111% · 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−$62as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 2 days (all we have)+0.034%+$3 · spread now −0.170%, 7d avg −0.111%

Together, before fees+0.152%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.059% cheaper against Binance than usual: you would sell low and buy high (spread −0.170% now, against its 7-day average of −0.111%). If the spread goes back, that is −$6 on $10k: about 3.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPDUSDT	1,311.1	0	get 0.0000% / 4h	2h 13m	$3.8M	$4.4M	100x
Short	tradeXYZ xyz:PALLADIUM	1,308.9	0.0050	get 0.0006% / 1h	13m 27s	$2.7M	$518K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.170%Rate

Funding earned: $10.5
Price spread: −0.170% → −0.111%: −$5.9
Slippage, 4 orders: −$28.19
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$51.58
Costs to cover: 0.562%
Break-even: 41.4 days

Slippage from Binance: live order book, 9 min ago; tradeXYZ: 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 Binance live order book, 9 min ago	1.26 bp	16.8 bp −$17	35.6 bp −$356	150.3 bp −$15.0K	doesn't fit
Sell tradeXYZ live order book, 4 min ago	1.53 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit

XPD on 16 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	−0.0008%	4h	1,312.6	+0.115%	$38K	$206K	10x	as long as short
Binance XPDUSDTlong	0.0000%	4h	1,311.1	long leg	$3.8M	$4.4M	100x
Gate XPD_USDT	0.0000%	4h	1,311	−0.007%	$2.0M	$453K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,310.7	−0.033%	$13.1M	$334K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,312.3	+0.092%	$542K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,310	−0.089%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,311.7	+0.045%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,309.3	−0.141%	—	—	—	as long as short
Aster XPDUSDT	+0.0024%	4h	1,310.1	−0.078%	$27K	$12K	20x	as long as short
Lighter XPD	+0.0032%	1h	1,311.8	+0.051%	$404K	$155K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.653%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUMshort	+0.0050%	1h	1,308.9	−0.170%	$2.7M	$518K	20x
OKX XPD-USDT-SWAP	+0.0058%	8h	1,310.2	−0.071%	$319K	$475K	50x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,309.4	−0.135%	$171K	$5K	75x	as long as short
Bitget XPDUSDT	+0.0114%	4h	1,310.3	−0.062%	$5.0M	$216K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0490%	4h	1,311.6	+0.037%	$340K	$787K	25x	as long as short