Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.005%

Price spread now: OKX against Injective−2.386%88s7-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 OKX

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 OKX is 2.386% cheaper against Injective than usual: you would sell low and buy high (−$239 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 88 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	35m 48s	$16K	$20K	52x
Short	OKX XPD-USDT-SWAP	1,301	0	get 0.0000% / 8h	4h 35m	$323K	$468K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −2.386%Rate

Funding earned: −$7
Price spread: −2.386% → 0.000%: −$238.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$255.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; OKX: live order book, 20 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 OKX live order book, 20 min ago	0.77 bp	15.2 bp −$15	74.8 bp −$748	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
edgeX XPDUSDC	−0.0016%	4h	1,301.7	−2.334%	$37K	$205K	10x	as long as short
BloFin XPD-USDT	−0.0002%	4h	1,301.3	−2.364%	$30K	$20K	100x	as long as short
Aster XPDUSDT	0.0000%	4h	1,300.6	−2.412%	$27K	$5K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,301.8	−2.328%	$3.8M	$4.6M	100x	as long as short
OKX XPD-USDT-SWAPshort	0.0000%	8h	1,301	−2.386%	$323K	$468K	50x
Gate XPD_USDT	0.0000%	4h	1,301.7	−2.336%	$2.0M	$456K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,301.2	−2.369%	$13.1M	$268K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,301.6	−2.340%	$537K	$24K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,298.9	−2.541%	—	$1.8M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,301.4	−2.357%	$9K	$34K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,299.5	−2.498%	—	—	—	as long as short
Lighter XPD	+0.0032%	1h	1,301.9	−2.318%	$401K	$155K	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	1,299.5	−2.498%	$2.7M	$509K	20x	as long as short
Bitget XPDUSDT	+0.0062%	4h	1,300.9	−2.395%	$5.0M	$240K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,301	−2.386%	$169K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0374%	4h	1,301.6	−2.339%	$337K	$729K	25x	as long as short