Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.023%

Price spread now: OKX against tradeXYZ+0.177%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.177%, 7d avg +0.113%

Together, before fees−0.019%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.063% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.113%): +$6 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:PALLADIUM	1,302.6	0.0014	pay 0.0002% / 1h	0m 07s	$2.7M	$494K	20x
Short	OKX XPD-USDT-SWAP	1,304.9	0	get 0.0000% / 8h	5h 00m	$323K	$470K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.177%Rate

Funding earned: −$2.9
Price spread: +0.177% → +0.113%: $6.33
Slippage, 4 orders: −$32.44
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$57.01
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; OKX: live order book, 61 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 tradeXYZ live order book, 8 min ago	1.15 bp	11.7 bp −$12	22.1 bp −$221	doesn't fit	doesn't fit
Sell OKX live order book, 61 min ago	0.76 bp	16.2 bp −$16	81.8 bp −$818	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	+0.240%	$38K	$206K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,304.7	+0.163%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,305.5	+0.222%	$3.7M	$4.5M	100x	as long as short
OKX XPD-USDT-SWAPshort	0.0000%	8h	1,304.9	+0.177%	$323K	$470K	50x
Gate XPD_USDT	0.0000%	4h	1,305	+0.186%	$2.0M	$459K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,304.4	+0.137%	$13.1M	$270K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,305	+0.184%	$538K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,303.3	+0.053%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,304.6	+0.156%	$9K	$33K	20x	as long as short
BloFin XPD-USDT	+0.0005%	4h	1,305.8	+0.243%	$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	1,302.9	+0.019%	—	—	—	as long as short
tradeXYZ xyz:PALLADIUMlong	+0.0014%	1h	1,302.6	long leg	$2.7M	$494K	20x
Bitget XPDUSDT	+0.0014%	4h	1,304.7	+0.164%	$5.0M	$234K	100x	as long as short
Lighter XPD	+0.0032%	1h	1,305.2	+0.200%	$402K	$155K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.318%	$16K	$20K	52x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,304.6	+0.150%	$170K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0278%	4h	1,304.7	+0.163%	$338K	$732K	25x	as long as short