Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0825%/8h= +90.4% APRpaid last 24h +0.017%

Price spread now: Variational Omni against tradeXYZ+0.147%7-day average +0.102% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.147%, 7d avg +0.102%

Together, before fees−0.067%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Variational Omni is 0.045% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.102%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.006% in total (about -0.6% 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	tradeXYZ xyz:PLATINUM	1,782	0.0121	pay 0.0015% / 1h	24m 07s	$3.6M	$1.1M	20x
Short	Variational Omni XPT	1,784.6	0.0946	get 0.0473% / 4h	1h 24m	$260K	$187K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.147%Rate

Funding earned: $173.32
Price spread: +0.147% → +0.102%: $4.48
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $159.8
Costs to cover: 0.180%
Break-even: 0.5 days

Slippage unknown: tradeXYZ: live order book, 4 min ago; Variational Omni: RFQ quote, 20 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 tradeXYZ live order book, 4 min ago	1.40 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 20 min ago	2.72 bp	doesn't fit	25.4 bp −$254	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	1,784.6	+0.148%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,781.8	−0.011%	$229	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,780.7	−0.073%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,781.3	−0.039%	$13K	$29K	10x	as long as short
tradeXYZ xyz:PLATINUMlong	+0.0121%	1h	1,782	long leg	$3.6M	$1.1M	20x
Injective XPT/USDC PERP	+0.0220%	1h	1,801.4	+1.088%	$6K	$34K	52x	as long as short
KuCoin XPTUSDTM	+0.0386%	4h	1,784.1	+0.116%	$238K	$42K	75x	as long as short
Paradex XPT-USD-PERP	+0.0480%	8h	1,784.4	+0.133%	$3K	—	5x	as long as short
Aevo PLATINUM-PERP	+0.0512%	1h	1,784.7	+0.153%	$303	—	10x	as long as short
Lighter XPT	+0.0656%	1h	1,785.4	+0.191%	$354K	$21K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XPT-USD	+0.0688%	1h	1,781.6	−0.023%	$201K	$624K	10x	as long as short
Gate XPT_USDT	+0.0736%	4h	1,784.6	+0.143%	$716K	$539K	100x	as long as short
Aster XPTUSDT	+0.0928%	4h	1,783.8	+0.100%	$15K	$10K	20x	as long as short
Variational Omni XPTshort	+0.0946%	4h	1,784.6	+0.147%	$260K	$187K	—
Binance XPTUSDT	+0.0991%	4h	1,784.4	+0.133%	$4.5M	$4.8M	100x	as long as short
MEXC XPT_USDT	+0.0998%	4h	1,783.9	+0.107%	$23.3M	$638K	100x	as long as short
edgeX XPTUSDC	+0.1036%	4h	1,783.9	+0.105%	$39K	$281K	10x	as long as short
Bitget XPTUSDT	+0.1046%	4h	1,783.2	+0.070%	$1.4M	$510K	100x	as long as short
BloFin XPT-USDT	+0.1054%	4h	1,784.7	+0.152%	$96K	$69K	100x	as long as short
GRVT XPT_USDT_Perp	+0.1100%	4h	1,783.3	+0.071%	$205K	$786K	25x	as long as short
OKX XPT-USDT-SWAP	+0.1244%	8h	1,785.1	+0.174%	$1.0M	$741K	50x	as long as short