Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Gate against Lighter−0.081%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$860.855% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.081%, 7d avg +0.009%

Together, before fees+0.064%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.090% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,315.4	0.0032	pay 0.0004% / 1h	25m 04s	$405K	$154K	20x
Short	Gate XPD_USDT	1,314.3	0	get 0.0000% / 4h	3h 25m	$2.0M	$435K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$6.72
Price spread: −0.081% → +0.009%: −$9.02
Slippage, 4 orders: −$70.52
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$101.26
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Lighter: live order book, 40 min ago; Gate: live order book, 2 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 Lighter live order book, 40 min ago	1.89 bp	13.1 bp −$13	30.7 bp −$307	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.57 bp	26.2 bp −$26	132.2 bp −$1,322	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
BloFin XPD-USDT	−0.0018%	4h	1,315	−0.030%	$30K	$20K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,314.7	−0.054%	$3.8M	$4.4M	100x	as long as short
Gate XPD_USDTshort	0.0000%	4h	1,314.3	−0.081%	$2.0M	$435K	100x
MEXC XPD_USDT	0.0000%	4h	1,314.8	−0.046%	$13.2M	$339K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,314.5	−0.065%	$544K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,312.7	−0.205%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,314.2	−0.094%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,312.9	−0.193%	—	—	—	as long as short
edgeX XPDUSDC	+0.0020%	4h	1,315.2	−0.017%	$38K	$205K	10x	as long as short
Bitget XPDUSDT	+0.0020%	4h	1,314.1	−0.103%	$5.0M	$220K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPDUSDT	+0.0027%	4h	1,314	−0.105%	$27K	$12K	20x	as long as short
Lighter XPDlong	+0.0032%	1h	1,315.4	long leg	$405K	$154K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.323%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,312.3	−0.236%	$2.7M	$517K	20x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,314.4	−0.077%	$171K	$5K	75x	as long as short
OKX XPD-USDT-SWAP	+0.0115%	8h	1,314.5	−0.068%	$324K	$477K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0698%	4h	1,314.4	−0.075%	$340K	$881K	25x	as long as short