Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.018%

Price spread now: Lighter against OKX−0.116%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.116%, 7d avg +0.012%

Together, before fees+0.052%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.128% cheaper against OKX than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of +0.012%). If the spread goes back, that is −$13 on $10k: about 13 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	OKX XPD-USDT-SWAP	1,293.3	0	get 0.0000% / 8h	6h 16m	$337K	$558K	50x
Short	Lighter XPD	1,291.8	0.0032	get 0.0004% / 1h	16m 29s	$397K	$159K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.116%Rate

Funding earned: $6.72
Price spread: −0.116% → +0.012%: −$12.83
Slippage, 4 orders: −$41.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$57.45
Costs to cover: 0.513%
Break-even: 66.8 days

Slippage from OKX: live order book, 32 min ago; Lighter: live order book, 30 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 OKX live order book, 32 min ago	0.39 bp	20.2 bp −$20	87.3 bp −$873	doesn't fit	doesn't fit
Sell Lighter live order book, 30 min ago	3.86 bp	8.4 bp −$8	24.3 bp −$243	doesn't fit	doesn't fit

XPD on 17 exchanges

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
tradeXYZ xyz:PALLADIUM	−0.0120%	1h	1,291.1	−0.170%	$2.6M	$566K	20x	as long as short
edgeX XPDUSDC	−0.0009%	4h	1,293	−0.023%	$37K	$206K	10x	as long as short
BloFin XPD-USDT	−0.0003%	4h	1,292.9	−0.028%	$33K	$23K	100x	as long as short
Aster XPDUSDT	0.0000%	4h	1,293	−0.026%	$26K	$7K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,292.9	−0.035%	$3.7M	$5.3M	100x	as long as short
OKX XPD-USDT-SWAPlong	0.0000%	8h	1,293.3	long leg	$337K	$558K	50x
Gate XPD_USDT	0.0000%	4h	1,292.5	−0.060%	$2.0M	$487K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,292.6	−0.058%	$13.6M	$452K	100x	as long as short
Bitget XPDUSDT	0.0000%	4h	1,292	−0.097%	$5.0M	$301K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,293.3	−0.003%	$525K	$32K	—	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XPD-USDT	0.0000%	4h	1,290.7	−0.203%	—	$1.6M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,292.8	−0.041%	$10K	$35K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,291.3	−0.159%	—	—	—	as long as short
Lighter XPDshort	+0.0032%	1h	1,291.8	−0.116%	$397K	$159K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+3.054%	$16K	$20K	52x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,291.1	−0.169%	$168K	$7K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0120%	4h	1,292.4	−0.072%	$336K	$622K	25x	as long as short