Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: Gate against Injective−1.239%99s7-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 Gate

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 1.239% cheaper against Injective than usual: you would sell low and buy high (−$124 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 99 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	Injective XPD/USDC PERP	1,332.8	0.0033	pay 0.0004% / 1h	49m 36s	$16K	$20K	52x
Short	Gate XPD_USDT	1,316.3	0	get 0.0000% / 4h	1h 49m	$2.0M	$408K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.239%Rate

Funding earned: −$7
Price spread: −1.239% → 0.000%: −$123.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.97
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	1.94 bp	26.5 bp −$26	130.7 bp −$1,307	doesn't fit	doesn't fit

Injective: 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 16 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
Gate XPD_USDTshort	0.0000%	4h	1,316.3	−1.239%	$2.0M	$408K	100x
SunX XPD-USDT	0.0000%	4h	1,314.1	−1.407%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,315.7	−1.287%	$10K	$33K	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	1,314.5	−1.373%	$2.7M	$531K	20x	as long as short
Lighter XPD	+0.0064%	1h	1,316.9	−1.193%	$401K	$147K	20x	as long as short
Variational Omni XPD	+0.0100%	4h	1,315.8	−1.276%	$541K	$14K	—	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,314.2	−1.395%	$171K	$4K	75x	as long as short
OKX XPD-USDT-SWAP	+0.0154%	8h	1,316.1	−1.253%	$321K	$486K	50x	as long as short
Binance XPDUSDT	+0.0191%	4h	1,316.4	−1.227%	$3.8M	$4.2M	100x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPD_USDT	+0.0196%	4h	1,316.1	−1.255%	$13.2M	$337K	100x	as long as short
edgeX XPDUSDC	+0.0210%	4h	1,315.6	−1.287%	$38K	$206K	10x	as long as short
BloFin XPD-USDT	+0.0216%	4h	1,315.6	−1.289%	$30K	$19K	100x	as long as short
Bitget XPDUSDT	+0.0280%	4h	1,315.4	−1.306%	$5.0M	$218K	100x	as long as short
Aster XPDUSDT	+0.0361%	4h	1,315.7	−1.286%	$27K	$12K	20x	as long as short
GRVT XPD_USDT_Perp	+0.0736%	4h	1,314.4	−1.384%	$337K	$1.1M	25x	as long as short