Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0776%/8h= +84.9% APRpaid last 24h +0.065%

Price spread now: OKX against KuCoin−0.033%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.033%, 7d avg +0.048%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.081% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.048%). If the spread goes back, that is −$8 on $10k: about 8 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.051% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPTUSDTM	1,784.3	0.0504	pay 0.0252% / 4h	1h 38m	$238K	$42K	75x
Short	OKX XPT-USDT-SWAP	1,783.7	0.1280	get 0.1280% / 8h	1h 38m	$1.0M	$741K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $162.9
Price spread: −0.033% → +0.048%: −$8.08
Slippage, 4 orders: −$42.66
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $90.16
Costs to cover: 0.647%
Break-even: 3.1 days

Slippage from KuCoin: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	9.16 bp	22.5 bp −$22	206.3 bp −$2,063	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.84 bp	10.0 bp −$10	27.2 bp −$272	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	1,783.5	−0.044%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,780.6	−0.207%	$228	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,780.8	−0.196%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,780.5	−0.211%	$13K	$29K	10x	as long as short
tradeXYZ xyz:PLATINUM	+0.0165%	1h	1,781.6	−0.151%	$3.6M	$1.1M	20x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,809.9	+1.435%	$6K	$34K	52x	as long as short
KuCoin XPTUSDTMlong	+0.0504%	4h	1,784.3	long leg	$238K	$42K	75x
Aevo PLATINUM-PERP	+0.0528%	1h	1,784.1	−0.009%	$303	—	10x	as long as short
Paradex XPT-USD-PERP	+0.0550%	8h	1,783.7	−0.034%	$3K	—	5x	as long as short
Extended XPT-USD	+0.0640%	1h	1,780.3	−0.222%	$201K	$629K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPT	+0.0680%	1h	1,784.6	+0.017%	$353K	$18K	20x	as long as short
Gate XPT_USDT	+0.0770%	4h	1,785.1	+0.047%	$719K	$537K	100x	as long as short
Aster XPTUSDT	+0.1032%	4h	1,783.5	−0.046%	$15K	$10K	20x	as long as short
BloFin XPT-USDT	+0.1055%	4h	1,784.3	−0.002%	$96K	$69K	100x	as long as short
Variational Omni XPT	+0.1062%	4h	1,785.2	+0.054%	$260K	$192K	—	as long as short
Binance XPTUSDT	+0.1099%	4h	1,783.3	−0.055%	$4.5M	$4.8M	100x	as long as short
MEXC XPT_USDT	+0.1106%	4h	1,783.3	−0.057%	$23.3M	$637K	100x	as long as short
Bitget XPTUSDT	+0.1130%	4h	1,782.9	−0.080%	$1.4M	$514K	100x	as long as short
edgeX XPTUSDC	+0.1144%	4h	1,785.1	+0.043%	$39K	$281K	10x	as long as short
GRVT XPT_USDT_Perp	+0.1214%	4h	1,784.7	+0.023%	$205K	$799K	25x	as long as short
OKX XPT-USDT-SWAPshort	+0.1280%	8h	1,783.7	−0.033%	$1.0M	$741K	50x