Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.017%

Price spread now: Lighter against edgeX+0.031%49s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.747% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now +0.031%, 7d avg +0.011%

Together, before fees+0.051%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.020% dearer against edgeX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.011%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XPDUSDC	1,316.5	−0.0020	get 0.0010% / 4h	2h 58m	$38K	$206K	10x
Short	Lighter XPD	1,316.9	0.0032	get 0.0004% / 1h	58m 29s	$406K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.031%Rate

Funding earned: $10.84
Price spread: +0.031% → +0.011%: $2.02
Slippage, 4 orders: −$65.73
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.87
Costs to cover: 0.747%
Break-even: 47.0 days

Slippage from edgeX: live order book, 8 min ago; Lighter: live order book, 1 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 edgeX live order book, 8 min ago	7.99 bp	13.4 bp −$13	133.1 bp −$1,331	doesn't fit	doesn't fit
Sell Lighter live order book, 1 min ago	4.94 bp	22.3 bp −$22	48.6 bp −$486	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 XPDUSDClong	−0.0020%	4h	1,316.5	long leg	$38K	$206K	10x
BloFin XPD-USDT	−0.0010%	4h	1,317.4	+0.071%	$30K	$20K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,316.1	−0.030%	$3.8M	$4.4M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,316.1	−0.030%	$2.0M	$425K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,315.9	−0.046%	$13.2M	$331K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,316.2	−0.024%	$545K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,315	−0.117%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,317.2	+0.053%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,314	−0.191%	—	—	—	as long as short
Aster XPDUSDT	+0.0017%	4h	1,315.3	−0.088%	$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 XPDshort	+0.0032%	1h	1,316.9	+0.031%	$406K	$154K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.239%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0036%	4h	1,315.7	−0.057%	$5.0M	$220K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,313.8	−0.204%	$2.7M	$515K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0095%	8h	1,315.7	−0.060%	$320K	$476K	50x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,314.6	−0.145%	$171K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0516%	4h	1,316.4	−0.005%	$341K	$849K	25x	as long as short