Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.016%

Price spread now: KuCoin against Lighter−0.159%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$1781.777% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.159%, 7d avg −0.025%

Together, before fees+0.159%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.134% cheaper against Lighter than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of −0.025%). If the spread goes back, that is −$13 on $10k: about 6.6 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.061% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,297.1	0.0032	pay 0.0004% / 1h	32m 42s	$399K	$160K	20x
Short	KuCoin XPDUSDTM	1,295	0.0100	get 0.0050% / 4h	32m 42s	$168K	$7K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.159%Rate

Funding earned: $14.28
Price spread: −0.159% → −0.025%: −$13.39
Slippage, 4 orders: −$165.67
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$176.78
Costs to cover: 1.777%
Break-even: 93.7 days

Slippage from Lighter: live order book, 62 min ago; KuCoin: live order book, 68 min ago.

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 Lighter live order book, 62 min ago	1.93 bp	17.8 bp −$18	41.4 bp −$414	doesn't fit	doesn't fit
Sell KuCoin live order book, 68 min ago	25.15 bp	57.2 bp −$57	600.6 bp −$6,006	doesn't fit	doesn't fit

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	−0.0014%	4h	1,299	+0.144%	$37K	$205K	10x	as long as short
Binance XPDUSDT	0.0000%	4h	1,297.6	+0.035%	$3.7M	$4.9M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,297	−0.010%	$2.0M	$473K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,296.8	−0.025%	$13.1M	$270K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,298.2	+0.084%	$535K	$24K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,294.7	−0.183%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,297.2	+0.006%	$10K	$35K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,294.3	−0.214%	—	—	—	as long as short
BloFin XPD-USDT	+0.0029%	4h	1,297.7	+0.046%	$30K	$20K	100x	as long as short
Lighter XPDlong	+0.0032%	1h	1,297.1	long leg	$399K	$160K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.752%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,294.1	−0.231%	$2.7M	$480K	20x	as long as short
KuCoin XPDUSDTMshort	+0.0100%	4h	1,295	−0.159%	$168K	$7K	75x
Aster XPDUSDT	+0.0234%	4h	1,296.1	−0.079%	$27K	$6K	20x	as long as short
OKX XPD-USDT-SWAP	+0.0235%	8h	1,296.4	−0.054%	$322K	$481K	50x	as long as short
Bitget XPDUSDT	+0.0432%	4h	1,296.8	−0.025%	$5.0M	$250K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0720%	4h	1,298.6	+0.113%	$337K	$675K	25x	as long as short