Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.001%

Price spread now: OKX against Lighter−0.053%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.053%, 7d avg −0.015%

Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.038% cheaper against Lighter than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of −0.015%). If the spread goes back, that is −$4 on $10k: about 2.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,313.4	0.0032	pay 0.0004% / 1h	34m 57s	$405K	$155K	20x
Short	OKX XPD-USDT-SWAP	1,312.7	0.0081	get 0.0081% / 8h	6h 34m	$314K	$475K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $10.23
Price spread: −0.053% → −0.015%: −$3.84
Slippage, 4 orders: −$69.17
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$72.78
Costs to cover: 0.792%
Break-even: 56.8 days

Slippage from Lighter: live order book, 25 min ago; OKX: live order book, 31 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, 25 min ago	4.94 bp	23.7 bp −$24	45.3 bp −$453	doesn't fit	doesn't fit
Sell OKX live order book, 31 min ago	1.14 bp	15.1 bp −$15	76.8 bp −$768	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	0.0000%	4h	1,313.7	+0.024%	$38K	$205K	10x	as long as short
Binance XPDUSDT	0.0000%	4h	1,313.3	−0.004%	$3.8M	$4.4M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,313	−0.033%	$2.0M	$442K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,312.9	−0.036%	$13.2M	$333K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,311.5	−0.142%	$543K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,310.5	−0.223%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,312.6	−0.061%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,311	−0.180%	—	—	—	as long as short
Aster XPDUSDT	+0.0015%	4h	1,312.4	−0.073%	$27K	$12K	20x	as long as short
Lighter XPDlong	+0.0032%	1h	1,313.4	long leg	$405K	$155K	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	+1.477%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,311.1	−0.175%	$2.7M	$513K	20x	as long as short
BloFin XPD-USDT	+0.0058%	4h	1,317.3	+0.295%	$30K	$20K	100x	as long as short
OKX XPD-USDT-SWAPshort	+0.0081%	8h	1,312.7	−0.053%	$314K	$475K	50x
Bitget XPDUSDT	+0.0086%	4h	1,311.7	−0.131%	$5.0M	$217K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,313	−0.031%	$171K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0504%	4h	1,312.7	−0.050%	$340K	$809K	25x	as long as short