Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against Gate+0.027%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$900.896% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.027%, 7d avg −0.009%

Together, before fees−0.009%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.036% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPD_USDT	1,316.5	0	get 0.0000% / 4h	42m 22s	$2.0M	$410K	100x
Short	Lighter XPD	1,316.8	0.0032	get 0.0004% / 1h	42m 22s	$404K	$153K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.027%Rate

Funding earned: $6.72
Price spread: +0.027% → −0.009%: $3.6
Slippage, 4 orders: −$74.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$79.3
Costs to cover: 0.896%
Break-even: 89.6 days

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 27 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 Gate live order book, 5 min ago	0.30 bp	22.2 bp −$22	131.9 bp −$1,319	doesn't fit	doesn't fit
Sell Lighter live order book, 27 min ago	7.97 bp	23.8 bp −$24	52.9 bp −$529	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
tradeXYZ xyz:PALLADIUM	−0.0009%	1h	1,313.9	−0.194%	$2.7M	$524K	20x	as long as short
edgeX XPDUSDC	−0.0003%	4h	1,316.1	−0.025%	$38K	$206K	10x	as long as short
Binance XPDUSDT	0.0000%	4h	1,316.3	−0.008%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDTlong	0.0000%	4h	1,316.5	long leg	$2.0M	$410K	100x
MEXC XPD_USDT	0.0000%	4h	1,316.2	−0.023%	$13.2M	$338K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,316.5	+0.002%	$541K	$12K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,315.5	−0.071%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,316	−0.033%	$10K	$33K	20x	as long as short
BloFin XPD-USDT	+0.0005%	4h	1,316.5	+0.002%	$30K	$19K	100x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,313.1	−0.252%	—	—	—	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	1,316.8	+0.027%	$404K	$153K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.242%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0068%	4h	1,315.3	−0.091%	$5.0M	$219K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,315.1	−0.102%	$171K	$4K	75x	as long as short
Aster XPDUSDT	+0.0121%	4h	1,315.3	−0.084%	$27K	$12K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0160%	8h	1,315.9	−0.042%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0466%	4h	1,315.7	−0.053%	$338K	$1.0M	25x	as long as short