Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0323%/8h= +35.4% APRpaid last 24h −0.007%

Price spread now: BloFin against Injective−2.636%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BloFin

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—needs both histories

Funding pays, the price is against you. BloFin is 2.636% cheaper against Injective than usual: you would sell low and buy high (spread −2.636% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$264 on $10k: about 27 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XPD/USDC PERP	1,332.8	0.0033	pay 0.0004% / 1h	11m 04s	$16K	$20K	52x
Short	BloFin XPD-USDT	1,297.7	0.0356	get 0.0178% / 4h	2h 11m	$30K	$20K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now −2.636%Rate

Funding earned: $67.82
Price spread: −2.636% → 0.000%: −$263.58
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$207.78
Costs to cover: 0.120%
Break-even: 28.4 days

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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
SunX XPD-USDT	0.0000%	4h	1,299.4	−2.508%	—	$1.8M	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,297.5	−2.648%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,300.8	−2.401%	$401K	$160K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,298.9	−2.544%	$2.7M	$471K	20x	as long as short
Gate XPD_USDT	+0.0050%	4h	1,300.5	−2.426%	$2.0M	$482K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,299.6	−2.495%	$169K	$6K	75x	as long as short
HTX XPD-USDT	+0.0152%	4h	1,296.6	−2.714%	$10K	$34K	20x	as long as short
Variational Omni XPD	+0.0264%	4h	1,296.9	−2.697%	$535K	$24K	—	as long as short
BloFin XPD-USDTshort	+0.0356%	4h	1,297.7	−2.636%	$30K	$20K	100x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XPDUSDT	+0.0362%	4h	1,300.4	−2.429%	$3.8M	$4.8M	100x	as long as short
MEXC XPD_USDT	+0.0366%	4h	1,300.9	−2.395%	$13.1M	$270K	100x	as long as short
OKX XPD-USDT-SWAP	+0.0373%	8h	1,300.9	−2.393%	$319K	$478K	50x	as long as short
edgeX XPDUSDC	+0.0390%	4h	1,297.9	−2.615%	$37K	$205K	10x	as long as short
Bitget XPDUSDT	+0.0556%	4h	1,300.9	−2.396%	$5.0M	$245K	100x	as long as short
Aster XPDUSDT	+0.0631%	4h	1,300.2	−2.448%	$27K	$5K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1004%	4h	1,296.5	−2.724%	$335K	$711K	25x	as long as short