Funding arb · Price arb /

XPT

RWAall XPT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.062%

Price spread now: Lighter against KuCoin+0.131%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.131%, 7d avg +0.065%

Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.066% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPTUSDTM	1,793.9	0.0702	pay 0.0351% / 4h	3h 37m	$248K	$40K	75x
Short	Lighter XPT	1,796.2	0.0840	get 0.0105% / 1h	37m 49s	$355K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.131%Rate

Funding earned: $28.98
Price spread: +0.131% → +0.065%: $6.59
Slippage, 4 orders: −$44.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.56
Costs to cover: 0.561%
Break-even: 12.0 days

Slippage from KuCoin: live order book, 33 min ago; Lighter: live order book, 7 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 KuCoin live order book, 33 min ago	7.85 bp	25.7 bp −$26	193.6 bp −$1,936	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.95 bp	8.0 bp −$8	18.4 bp −$184	doesn't fit	doesn't fit

XPT on 21 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
HTX XPT-USDT	0.0000%	4h	1,794.3	+0.022%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,790.8	−0.171%	$230	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,791.5	−0.131%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,790.9	−0.166%	$13K	$30K	10x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,813.7	+1.104%	$6K	$34K	52x	as long as short
Aevo PLATINUM-PERP	+0.0296%	1h	1,795.5	+0.091%	$305	—	10x	as long as short
tradeXYZ xyz:PLATINUM	+0.0425%	1h	1,793.1	−0.042%	$3.6M	$1.0M	20x	as long as short
KuCoin XPTUSDTMlong	+0.0702%	4h	1,793.9	long leg	$248K	$40K	75x
Gate XPT_USDT	+0.0718%	4h	1,795.9	+0.111%	$730K	$509K	100x	as long as short
Paradex XPT-USD-PERP	+0.0828%	8h	1,795	+0.066%	$3K	—	5x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPTshort	+0.0840%	1h	1,796.2	+0.131%	$355K	$19K	20x
Aster XPTUSDT	+0.0998%	4h	1,793.2	−0.035%	$14K	$9K	20x	as long as short
Variational Omni XPT	+0.0999%	4h	1,794.5	+0.034%	$280K	$199K	—	as long as short
BloFin XPT-USDT	+0.1044%	4h	1,794.9	+0.056%	$89K	$68K	100x	as long as short
edgeX XPTUSDC	+0.1050%	4h	1,794.5	+0.037%	$39K	$281K	10x	as long as short
MEXC XPT_USDT	+0.1058%	4h	1,793.7	−0.009%	$23.5M	$600K	100x	as long as short
Binance XPTUSDT	+0.1061%	4h	1,795.4	+0.087%	$4.5M	$4.3M	100x	as long as short
OKX XPT-USDT-SWAP	+0.1128%	8h	1,794.9	+0.059%	$950K	$628K	50x	as long as short
Extended XPT-USD	+0.1136%	1h	1,791.3	−0.142%	$203K	$613K	10x	as long as short
Bitget XPTUSDT	+0.1140%	4h	1,794.1	+0.014%	$1.4M	$469K	100x	as long as short
GRVT XPT_USDT_Perp	+0.1348%	4h	1,794.3	+0.022%	$205K	$814K	25x	as long as short