Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.015%

Price spread now: OKX against Gate−0.066%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.066%, 7d avg −0.023%

Together, before fees+0.192%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.043% cheaper against Gate than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.023%). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.170% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPD_USDT	1,294	0	get 0.0000% / 4h	2m 37s	$2.0M	$484K	100x
Short	OKX XPD-USDT-SWAP	1,293.1	0.0178	get 0.0178% / 8h	2m 37s	$326K	$491K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $37.32
Price spread: −0.066% → −0.023%: −$4.31
Slippage, 4 orders: −$61.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$53.7
Costs to cover: 0.867%
Break-even: 17.1 days

Slippage from Gate: live order book, 5 min ago; OKX: live order book, 33 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 Gate live order book, 5 min ago	2.55 bp	23.9 bp −$24	128.5 bp −$1,285	doesn't fit	doesn't fit
Sell OKX live order book, 33 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
Binance XPDUSDT	0.0000%	4h	1,293.5	−0.035%	$3.7M	$5.0M	100x	as long as short
Gate XPD_USDTlong	0.0000%	4h	1,294	long leg	$2.0M	$484K	100x
MEXC XPD_USDT	0.0000%	4h	1,293.5	−0.038%	$13.0M	$285K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,294.4	+0.034%	$530K	$27K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,292.2	−0.133%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,294.3	+0.029%	$10K	$35K	20x	as long as short
edgeX XPDUSDC	+0.0004%	4h	1,293.9	−0.001%	$37K	$206K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,292	−0.154%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,292.8	−0.089%	$397K	$161K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+3.002%	$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
tradeXYZ xyz:PALLADIUM	+0.0035%	1h	1,290.8	−0.243%	$2.6M	$546K	20x	as long as short
BloFin XPD-USDT	+0.0052%	4h	1,294	+0.006%	$31K	$21K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,292.3	−0.128%	$168K	$7K	75x	as long as short
Aster XPDUSDT	+0.0110%	4h	1,292.7	−0.093%	$27K	$6K	20x	as long as short
OKX XPD-USDT-SWAPshort	+0.0178%	8h	1,293.1	−0.066%	$326K	$491K	50x
Bitget XPDUSDT	+0.0370%	4h	1,293.6	−0.029%	$5.0M	$255K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0688%	4h	1,294	+0.002%	$335K	$672K	25x	as long as short