Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: Binance against Injective−1.835%67s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 1.835% cheaper against Injective than usual: you would sell low and buy high (−$183 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XPD/USDC PERP	1,332.8	0.0033	pay 0.0004% / 1h	26m 06s	$16K	$20K	52x
Short	Binance XPDUSDT	1,308.3	0	get 0.0000% / 4h	1h 26m	$3.7M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −1.835%Rate

Funding earned: −$7
Price spread: −1.835% → 0.000%: −$183.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$200.5
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Binance: live order book, 11 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	1.91 bp	7.1 bp −$7	26.9 bp −$269	145.0 bp −$14.5K	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
tradeXYZ xyz:PALLADIUM	−0.0067%	1h	1,306.4	−1.981%	$2.7M	$493K	20x	as long as short
BloFin XPD-USDT	−0.0033%	4h	1,307.6	−1.892%	$30K	$20K	100x	as long as short
Aster XPDUSDT	0.0000%	4h	1,308.1	−1.853%	$27K	$5K	20x	as long as short
Binance XPDUSDTshort	0.0000%	4h	1,308.3	−1.835%	$3.7M	$4.5M	100x
OKX XPD-USDT-SWAP	0.0000%	8h	1,307.4	−1.906%	$324K	$475K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,308.2	−1.843%	$2.0M	$456K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,308.1	−1.855%	$13.2M	$268K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,307.5	−1.899%	$5.0M	$218K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,307.4	−1.906%	$540K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,308	−1.863%	—	$1.8M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XPD-USDT	0.0000%	4h	1,307.9	−1.865%	$9K	$33K	20x	as long as short
edgeX XPDUSDC	+0.0006%	4h	1,307.5	−1.900%	$38K	$205K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,306.7	−1.955%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,308.3	−1.838%	$403K	$155K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
KuCoin XPDUSDTM	+0.0100%	4h	1,307.1	−1.927%	$170K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0136%	4h	1,306.9	−1.940%	$339K	$751K	25x	as long as short