Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.016%

Price spread now: KuCoin against Lighter−0.047%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2262.258% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.047%, 7d avg −0.024%

Together, before fees+0.133%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.023% cheaper against Lighter than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.024%). If the spread goes back, that is −$2 on $10k: about 27 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.054% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,301.6	0.0032	pay 0.0004% / 1h	34m 27s	$401K	$155K	20x
Short	KuCoin XPDUSDTM	1,301	0.0100	get 0.0050% / 4h	34m 27s	$169K	$5K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $14.28
Price spread: −0.047% → −0.024%: −$2.28
Slippage, 4 orders: −$213.79
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$213.79
Costs to cover: 2.258%
Break-even: 111.8 days

Slippage from Lighter: live order book, 15 min ago; KuCoin: live order book, 40 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, 15 min ago	6.53 bp	14.3 bp −$14	37.1 bp −$371	doesn't fit	doesn't fit
Sell KuCoin live order book, 40 min ago	21.13 bp	112.5 bp −$113	485.0 bp −$4,850	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	−0.0014%	4h	1,301.2	−0.031%	$30K	$20K	100x	as long as short
Aster XPDUSDT	0.0000%	4h	1,300.3	−0.100%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,301.3	−0.022%	$3.8M	$4.6M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,301	−0.046%	$323K	$468K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,301.3	−0.022%	$2.0M	$457K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,301.2	−0.033%	$13.1M	$268K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,301.6	+0.001%	$537K	$24K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,298.4	−0.244%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,301	−0.047%	$9K	$34K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,299.2	−0.185%	—	—	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XPDUSDC	+0.0015%	4h	1,301.7	+0.009%	$37K	$206K	10x	as long as short
Lighter XPDlong	+0.0032%	1h	1,301.6	long leg	$401K	$155K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.397%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,299.1	−0.192%	$2.7M	$509K	20x	as long as short
Bitget XPDUSDT	+0.0068%	4h	1,300.8	−0.063%	$5.0M	$240K	100x	as long as short
KuCoin XPDUSDTMshort	+0.0100%	4h	1,301	−0.047%	$169K	$5K	75x
GRVT XPD_USDT_Perp	+0.0386%	4h	1,301.6	−0.001%	$337K	$726K	25x	as long as short