Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Lighter+0.053%7-day average −0.012% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.053%, 7d avg −0.012%

Together, before fees−0.120%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.065% dearer against Lighter than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.012%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,305	0.0032	pay 0.0004% / 1h	1m 16s	$402K	$155K	20x
Short	Variational Omni XPD	1,305.7	0	get 0.0000% / 4h	1h 01m	$538K	$16K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.053%Rate

Funding earned: −$6.72
Price spread: +0.053% → −0.012%: $6.48
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$0.24
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 53 min ago; Variational Omni: RFQ quote, 63 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 Lighter live order book, 53 min ago	4.58 bp	12.2 bp −$12	28.2 bp −$282	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 63 min ago	3.25 bp	doesn't fit	58.9 bp −$589	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
edgeX XPDUSDC	−0.0013%	4h	1,305.7	+0.056%	$38K	$206K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,305.1	+0.008%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,305.3	+0.021%	$3.7M	$4.5M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,304.9	−0.008%	$323K	$470K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,305.2	+0.016%	$2.0M	$458K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,304.5	−0.036%	$13.1M	$270K	100x	as long as short
Variational Omni XPDshort	0.0000%	4h	1,305.7	+0.053%	$538K	$16K	—
SunX XPD-USDT	0.0000%	4h	1,303.5	−0.113%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,304.6	−0.031%	$9K	$33K	20x	as long as short
BloFin XPD-USDT	+0.0005%	4h	1,305.8	+0.059%	$31K	$20K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,303.1	−0.146%	—	—	—	as long as short
Bitget XPDUSDT	+0.0010%	4h	1,304.4	−0.044%	$5.0M	$234K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0012%	1h	1,302.9	−0.161%	$2.7M	$494K	20x	as long as short
Lighter XPDlong	+0.0032%	1h	1,305	long leg	$402K	$155K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.130%	$16K	$20K	52x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,305	−0.002%	$170K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0278%	4h	1,304.7	−0.022%	$338K	$732K	25x	as long as short