Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective−2.459%70s7-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 KuCoin

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

Funding pays, the price is against you. KuCoin is 2.459% cheaper against Injective than usual: you would sell low and buy high (spread −2.459% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$246 on $10k: about 4 months of funding at the current rate (+$2 a day). The two prices were read 70 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	4m 01s	$16K	$20K	52x
Short	KuCoin XPDUSDTM	1,300	0.0100	get 0.0050% / 4h	3h 04m	$169K	$6K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.459%Rate

Funding earned: $14
Price spread: −2.459% → 0.000%: −$245.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$243.89
Costs to cover: 0.120%
Break-even: 128.9 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 60 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 KuCoin live order book, 60 min ago	23.83 bp	70.7 bp −$71	615.7 bp −$6,157	doesn't fit	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
SunX XPD-USDT	0.0000%	4h	1,297.3	−2.666%	—	$1.8M	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,297.8	−2.625%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,300.2	−2.446%	$401K	$160K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,297.5	−2.649%	$2.7M	$470K	20x	as long as short
KuCoin XPDUSDTMshort	+0.0100%	4h	1,300	−2.459%	$169K	$6K	75x
Gate XPD_USDT	+0.0102%	4h	1,299.9	−2.468%	$2.0M	$477K	100x	as long as short
Variational Omni XPD	+0.0171%	4h	1,299.5	−2.500%	$536K	$24K	—	as long as short
edgeX XPDUSDC	+0.0269%	4h	1,299.5	−2.499%	$37K	$205K	10x	as long as short
OKX XPD-USDT-SWAP	+0.0273%	8h	1,299.4	−2.506%	$321K	$471K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPD_USDT	+0.0300%	4h	1,298.9	−2.547%	$13.1M	$271K	100x	as long as short
Binance XPDUSDT	+0.0308%	4h	1,300.1	−2.456%	$3.8M	$4.7M	100x	as long as short
BloFin XPD-USDT	+0.0345%	4h	1,299.7	−2.483%	$30K	$20K	100x	as long as short
Bitget XPDUSDT	+0.0478%	4h	1,299.1	−2.529%	$5.0M	$241K	100x	as long as short
HTX XPD-USDT	+0.0490%	4h	1,300	−2.465%	$10K	$34K	20x	as long as short
Aster XPDUSDT	+0.0523%	4h	1,298.9	−2.547%	$26K	$5K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1288%	4h	1,299.2	−2.518%	$338K	$715K	25x	as long as short