Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective−1.230%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 KuCoin

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. KuCoin is 1.230% cheaper against Injective than usual: you would sell low and buy high (spread −1.230% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$123 on $10k: about 2 months of funding at the current rate (+$2 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	12m 55s	$16K	$20K	52x
Short	KuCoin XPDUSDTM	1,316.4	0.0100	get 0.0050% / 4h	12m 55s	$171K	$4K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.230%Rate

Funding earned: $14
Price spread: −1.230% → 0.000%: −$122.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$120.99
Costs to cover: 0.120%
Break-even: 67.5 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 41 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 KuCoin live order book, 41 min ago	19.05 bp	52.6 bp −$53	476.4 bp −$4,764	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 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
BloFin XPD-USDT	−0.0035%	4h	1,318.2	−1.097%	$30K	$19K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,317.6	−1.139%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,317.9	−1.121%	$2.0M	$416K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,317	−1.188%	$13.2M	$339K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,317.7	−1.134%	$546K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,316	−1.262%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,317.9	−1.120%	$10K	$33K	20x	as long as short
edgeX XPDUSDC	+0.0002%	4h	1,317.8	−1.124%	$38K	$206K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,316.2	−1.245%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,318.6	−1.065%	$404K	$153K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
Bitget XPDUSDT	+0.0038%	4h	1,316.7	−1.212%	$5.0M	$219K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,315.6	−1.291%	$2.7M	$523K	20x	as long as short
Aster XPDUSDT	+0.0094%	4h	1,316.5	−1.226%	$27K	$12K	20x	as long as short
KuCoin XPDUSDTMshort	+0.0100%	4h	1,316.4	−1.230%	$171K	$4K	75x
OKX XPD-USDT-SWAP	+0.0164%	8h	1,317.2	−1.170%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0490%	4h	1,317.3	−1.160%	$339K	$944K	25x	as long as short