Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.008%

Price spread now: Lighter against Aster+0.046%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.046% dearer against Aster than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPDUSDT	1,316.6	0.0030	pay 0.0015% / 4h	3h 02m	$27K	$12K	20x
Short	Lighter XPD	1,317.2	0.0032	get 0.0004% / 1h	2m 40s	$406K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0.36
Price spread: +0.046% → 0.000%: $4.6
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.04
Costs to cover: 0.080%
Break-even: 65.9 days

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 62 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 Aster no order-book sample	—	—	—	—	—
Sell Lighter live order book, 62 min ago	1.89 bp	22.0 bp −$22	46.6 bp −$466	doesn't fit	doesn't fit

Aster: 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.

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	−0.0005%	4h	1,316	−0.047%	$38K	$205K	10x	as long as short
Binance XPDUSDT	0.0000%	4h	1,316.7	+0.004%	$3.8M	$4.4M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,316.7	+0.007%	$2.0M	$442K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,316.7	+0.009%	$13.2M	$341K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,315.9	−0.052%	$545K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,314.1	−0.192%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,315.2	−0.104%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,314.9	−0.127%	—	—	—	as long as short
BloFin XPD-USDT	+0.0030%	4h	1,316.1	−0.038%	$30K	$20K	100x	as long as short
Aster XPDUSDTlong	+0.0030%	4h	1,316.6	long leg	$27K	$12K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPDshort	+0.0032%	1h	1,317.2	+0.046%	$406K	$154K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.231%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0044%	4h	1,315.9	−0.056%	$5.0M	$221K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,314.9	−0.129%	$2.7M	$515K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0099%	8h	1,316.3	−0.022%	$321K	$482K	50x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,316.3	−0.025%	$171K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0582%	4h	1,315.1	−0.111%	$340K	$848K	25x	as long as short