Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.005%

Price spread now: OKX against Injective−2.438%7-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 OKX

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. OKX is 2.438% cheaper against Injective than usual: you would sell low and buy high (spread −2.438% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$244 on $10k: about 11 months of funding at the current rate (+$1 a day).

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	9m 17s	$16K	$20K	52x
Short	OKX XPD-USDT-SWAP	1,300.3	0.0059	get 0.0059% / 8h	4h 09m	$323K	$468K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −2.438%Rate

Funding earned: $5.32
Price spread: −2.438% → 0.000%: −$243.85
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$248.54
Costs to cover: 0.100%
Break-even: 333.8 days

Slippage unknown: Injective: no order-book sample; OKX: live order book, 46 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 OKX live order book, 46 min ago	0.77 bp	15.2 bp −$15	74.8 bp −$748	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
BloFin XPD-USDT	−0.0024%	4h	1,300.7	−2.406%	$30K	$20K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,300.4	−2.429%	$3.7M	$4.6M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,300.5	−2.426%	$2.0M	$460K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,300.1	−2.450%	$13.1M	$270K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,300.4	−2.433%	$536K	$24K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,297.5	−2.648%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,300.3	−2.441%	$9K	$34K	20x	as long as short
edgeX XPDUSDC	+0.0001%	4h	1,300.2	−2.443%	$37K	$205K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,298.6	−2.568%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,301.1	−2.378%	$401K	$155K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,298.7	−2.559%	$2.7M	$486K	20x	as long as short
OKX XPD-USDT-SWAPshort	+0.0059%	8h	1,300.3	−2.438%	$323K	$468K	50x
Aster XPDUSDT	+0.0081%	4h	1,299.8	−2.473%	$27K	$5K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,301.1	−2.379%	$170K	$5K	75x	as long as short
Bitget XPDUSDT	+0.0146%	4h	1,299.8	−2.474%	$5.0M	$240K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0492%	4h	1,300.2	−2.443%	$336K	$724K	25x	as long as short