Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.010%

Price spread now: MEXC against Injective−2.586%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 MEXC

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. MEXC is 2.586% cheaper against Injective than usual: you would sell low and buy high (spread −2.586% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$259 on $10k: about 7 months of funding at the current rate (+$1 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	42m 40s	$16K	$20K	52x
Short	MEXC XPD_USDT	1,298.3	0.0074	get 0.0037% / 4h	3h 42m	$13.1M	$269K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −2.586%Rate

Funding earned: $8.54
Price spread: −2.586% → 0.000%: −$258.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$250.11
Costs to cover: 0.000%
Break-even: 212.0 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 1 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 MEXC live order book, 1 min ago	11.44 bp	12.4 bp −$12	13.5 bp −$135	85.9 bp −$8,590	298.4 bp −$149.2K

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
Variational Omni XPD	0.0000%	4h	1,300	−2.463%	$536K	$24K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,296.7	−2.711%	—	$1.8M	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,297.2	−2.670%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,299.6	−2.491%	$401K	$158K	20x	as long as short
Injective XPD/USDC PERPlong	+0.0033%	1h	1,332.8	long leg	$16K	$20K	52x
edgeX XPDUSDC	+0.0037%	4h	1,299.9	−2.467%	$37K	$206K	10x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,296.6	−2.716%	$2.7M	$492K	20x	as long as short
MEXC XPD_USDTshort	+0.0074%	4h	1,298.3	−2.586%	$13.1M	$269K	100x
Binance XPDUSDT	+0.0088%	4h	1,299.5	−2.497%	$3.8M	$4.7M	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,299.1	−2.527%	$169K	$5K	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	+0.0125%	4h	1,299.4	−2.508%	$30K	$20K	100x	as long as short
OKX XPD-USDT-SWAP	+0.0145%	8h	1,299.2	−2.521%	$321K	$472K	50x	as long as short
Gate XPD_USDT	+0.0176%	4h	1,299.3	−2.511%	$2.0M	$470K	100x	as long as short
Aster XPDUSDT	+0.0237%	4h	1,297.9	−2.618%	$26K	$5K	20x	as long as short
Bitget XPDUSDT	+0.0294%	4h	1,298.8	−2.550%	$5.0M	$240K	100x	as long as short
HTX XPD-USDT	+0.0475%	4h	1,299.3	−2.513%	$9K	$34K	20x	as long as short
GRVT XPD_USDT_Perp	+0.1292%	4h	1,299.2	−2.521%	$338K	$720K	25x	as long as short