Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0142%/8h= −15.6% APRpaid last 24h −0.015%

Price spread now: Variational Omni against OKX+0.098%7-day average +0.005% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now +0.098%, 7d avg +0.005%

Together, before fees−0.079%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.093% dearer against OKX than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of +0.005%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 4 days (−0.003% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPD-USDT-SWAP	1,298.7	0.0142	pay 0.0142% / 8h	3h 44m	$321K	$473K	50x
Short	Variational Omni XPD	1,300	0	get 0.0000% / 4h	3h 44m	$536K	$24K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.098%Rate

Funding earned: −$29.85
Price spread: +0.098% → +0.005%: $9.33
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.52
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 min ago; Variational Omni: RFQ quote, 10 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 OKX live order book, 6 min ago	0.77 bp	14.4 bp −$14	73.8 bp −$738	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 10 min ago	3.50 bp	doesn't fit	43.8 bp −$438	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
Variational Omni XPDshort	0.0000%	4h	1,300	+0.098%	$536K	$24K	—
SunX XPD-USDT	0.0000%	4h	1,296.5	−0.169%	—	$1.8M	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,297.1	−0.123%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,300	+0.100%	$401K	$158K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.626%	$16K	$20K	52x	as long as short
edgeX XPDUSDC	+0.0037%	4h	1,299.9	+0.094%	$37K	$206K	10x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,296.8	−0.146%	$2.7M	$492K	20x	as long as short
MEXC XPD_USDT	+0.0064%	4h	1,298.3	−0.035%	$13.1M	$269K	100x	as long as short
Binance XPDUSDT	+0.0069%	4h	1,299.3	+0.045%	$3.8M	$4.7M	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,299.3	+0.047%	$169K	$5K	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	+0.0100%	4h	1,301	+0.176%	$30K	$20K	100x	as long as short
OKX XPD-USDT-SWAPlong	+0.0142%	8h	1,298.7	long leg	$321K	$473K	50x
Gate XPD_USDT	+0.0152%	4h	1,299.5	+0.065%	$2.0M	$469K	100x	as long as short
Aster XPDUSDT	+0.0227%	4h	1,298.3	−0.029%	$26K	$5K	20x	as long as short
Bitget XPDUSDT	+0.0282%	4h	1,298.9	+0.013%	$5.0M	$240K	100x	as long as short
HTX XPD-USDT	+0.0481%	4h	1,299.3	+0.047%	$9K	$34K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1338%	4h	1,299.6	+0.068%	$338K	$720K	25x	as long as short