Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.011%

Price spread now: tradeXYZ against Binance−0.131%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 2 days (all we have)−0.010%−$1 · spread now −0.131%, 7d avg −0.111%

Together, before fees+0.111%+ Points / potential airdroptradeXYZ: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.020% cheaper against Binance than usual: you would sell low and buy high (spread −0.131% now, against its 7-day average of −0.111%). If the spread goes back, that is −$2 on $10k: about 32 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPDUSDT	1,315.9	0	get 0.0000% / 4h	2h 59m	$3.8M	$4.4M	100x
Short	tradeXYZ xyz:PALLADIUM	1,314.2	0.0050	get 0.0006% / 1h	59m 01s	$2.7M	$515K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Binance. 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 BinancebpFee tradeXYZbpOrdersPrice spread, now −0.131%Rate

Funding earned: $10.5
Price spread: −0.131% → −0.111%: −$2.02
Slippage, 4 orders: −$26.66
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$46.18
Costs to cover: 0.547%
Break-even: 37.8 days

Slippage from Binance: live order book, 8 min ago; tradeXYZ: live order book, 9 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 Binance live order book, 8 min ago	1.22 bp	13.5 bp −$14	32.1 bp −$321	146.2 bp −$14.6K	doesn't fit
Sell tradeXYZ live order book, 9 min ago	1.52 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	−0.0020%	4h	1,316.5	+0.043%	$38K	$206K	10x	as long as short
BloFin XPD-USDT	−0.0010%	4h	1,317.4	+0.114%	$30K	$20K	100x	as long as short
Binance XPDUSDTlong	0.0000%	4h	1,315.9	long leg	$3.8M	$4.4M	100x
Gate XPD_USDT	0.0000%	4h	1,316.9	+0.074%	$2.0M	$424K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,316.5	+0.046%	$13.2M	$331K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,316.2	+0.019%	$545K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,315	−0.074%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,317.2	+0.096%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,315.7	−0.017%	—	—	—	as long as short
Aster XPDUSDT	+0.0016%	4h	1,317.2	+0.094%	$27K	$12K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPD	+0.0032%	1h	1,317	+0.082%	$406K	$154K	20x	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.282%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0038%	4h	1,315.4	−0.041%	$5.0M	$220K	100x	as long as short
tradeXYZ xyz:PALLADIUMshort	+0.0050%	1h	1,314.2	−0.131%	$2.7M	$515K	20x
OKX XPD-USDT-SWAP	+0.0095%	8h	1,316.7	+0.059%	$320K	$484K	50x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,314.9	−0.076%	$171K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0516%	4h	1,316.4	+0.038%	$341K	$849K	25x	as long as short