Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h +0.001%

Price spread now: OKX against Lighter+0.054%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.054%, 7d avg −0.015%

Together, before fees+0.034%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.069% dearer against Lighter than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.015%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.084%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,305.7	0.0032	pay 0.0004% / 1h	50m 46s	$403K	$155K	20x
Short	OKX XPD-USDT-SWAP	1,306.4	0.0003	get 0.0003% / 8h	5h 50m	$315K	$469K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$6.1
Price spread: +0.054% → −0.015%: $6.85
Slippage, 4 orders: −$53.85
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$63.1
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; OKX: live order book, 10 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, 4 min ago	4.58 bp	12.2 bp −$12	28.2 bp −$282	doesn't fit	doesn't fit
Sell OKX live order book, 10 min ago	0.76 bp	16.2 bp −$16	81.8 bp −$818	doesn't fit	doesn't fit

XPD on 16 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	−0.0150%	1h	1,305.1	−0.046%	$2.7M	$518K	20x	as long as short
Aster XPDUSDT	0.0000%	4h	1,305.7	−0.003%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,306.5	+0.058%	$3.7M	$4.5M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,306.3	+0.046%	$2.0M	$449K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,306.5	+0.062%	$13.2M	$264K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,306.4	+0.056%	$539K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,305.8	+0.009%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,307.9	+0.171%	$9K	$33K	20x	as long as short
OKX XPD-USDT-SWAPshort	+0.0003%	8h	1,306.4	+0.054%	$315K	$469K	50x
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,305.2	−0.039%	—	—	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XPDUSDC	+0.0012%	4h	1,310.1	+0.335%	$38K	$205K	10x	as long as short
Bitget XPDUSDT	+0.0014%	4h	1,305.9	+0.018%	$5.0M	$218K	100x	as long as short
Lighter XPDlong	+0.0032%	1h	1,305.7	long leg	$403K	$155K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.076%	$16K	$20K	52x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,305.7	−0.003%	$170K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0216%	4h	1,309.6	+0.299%	$339K	$777K	25x	as long as short