Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0979%/8h= −107.2% APRpaid last 24h −0.006%

Price spread now: Injective against Variational Omni+0.768%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.768% dearer against Variational Omni than usual: you sell high and buy low (spread +0.768% now, against zero (this spread has no 7-day history yet)): +$77 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPT	1,793	0.1199	pay 0.0600% / 4h	2h 04m	$261K	$198K	—
Short	Injective XPT/USDC PERP	1,806.8	0.0220	get 0.0028% / 1h	4m 57s	$6K	$34K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +0.768%Rate

Funding earned: −$205.68
Price spread: +0.768% → 0.000%: $76.79
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$128.91
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 44 min ago; Injective: no order-book sample. 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 Variational Omni RFQ quote, 44 min ago	2.89 bp	doesn't fit	40.8 bp −$408	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1,793.8	+0.041%	$11K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,788.7	−0.240%	$229	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,789.5	−0.197%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,788.7	−0.240%	$13K	$31K	10x	as long as short
Injective XPT/USDC PERPshort	+0.0220%	1h	1,806.8	+0.768%	$6K	$34K	52x
tradeXYZ xyz:PLATINUM	+0.0452%	1h	1,790	−0.170%	$3.6M	$1.1M	20x	as long as short
Aevo PLATINUM-PERP	+0.0536%	1h	1,792.9	−0.006%	$305	—	10x	as long as short
KuCoin XPTUSDTM	+0.0656%	4h	1,792.1	−0.055%	$247K	$41K	75x	as long as short
Paradex XPT-USD-PERP	+0.0698%	8h	1,792.1	−0.052%	$3K	—	5x	as long as short
Gate XPT_USDT	+0.0872%	4h	1,793.4	+0.022%	$722K	$539K	100x	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	+0.0904%	1h	1,788.6	−0.249%	$206K	$628K	10x	as long as short
Lighter XPT	+0.0952%	1h	1,793.3	+0.014%	$354K	$19K	20x	as long as short
Aster XPTUSDT	+0.1194%	4h	1,789.9	−0.176%	$15K	$9K	20x	as long as short
Variational Omni XPTlong	+0.1199%	4h	1,793	long leg	$261K	$198K	—
Binance XPTUSDT	+0.1253%	4h	1,792.3	−0.042%	$4.5M	$4.6M	100x	as long as short
MEXC XPT_USDT	+0.1256%	4h	1,790.9	−0.119%	$23.5M	$634K	100x	as long as short
BloFin XPT-USDT	+0.1259%	4h	1,792.3	−0.042%	$93K	$69K	100x	as long as short
edgeX XPTUSDC	+0.1268%	4h	1,793.5	+0.026%	$39K	$282K	10x	as long as short
Bitget XPTUSDT	+0.1270%	4h	1,791.4	−0.089%	$1.4M	$504K	100x	as long as short
OKX XPT-USDT-SWAP	+0.1327%	8h	1,792.1	−0.052%	$996K	$694K	50x	as long as short
GRVT XPT_USDT_Perp	+0.1448%	4h	1,793.2	+0.009%	$206K	$808K	25x	as long as short