Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0079%/8h= −8.7% APRpaid last 24h −0.015%

Price spread now: MEXC against OKX−0.093%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.093%, 7d avg +0.009%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.101% cheaper against OKX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPD-USDT-SWAP	1,313.5	0.0079	pay 0.0079% / 8h	6h 34m	$314K	$475K	50x
Short	MEXC XPD_USDT	1,312.3	0	get 0.0000% / 4h	2h 34m	$13.1M	$333K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$16.62
Price spread: −0.093% → +0.009%: −$10.14
Slippage, 4 orders: −$41.04
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$77.8
Costs to cover: 0.510%
Break-even: never at this rate

Slippage from OKX: live order book, 32 min ago; MEXC: live order book, 4 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	1.14 bp	18.1 bp −$18	79.9 bp −$799	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	5.76 bp	12.1 bp −$12	13.3 bp −$133	82.1 bp −$8,206	286.3 bp −$143.1K

XPD on 16 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	+0.016%	$38K	$205K	10x	as long as short
Binance XPDUSDT	0.0000%	4h	1,313.6	+0.007%	$3.8M	$4.4M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,313.5	+0.001%	$2.0M	$442K	100x	as long as short
MEXC XPD_USDTshort	0.0000%	4h	1,312.3	−0.093%	$13.1M	$333K	100x
Variational Omni XPD	0.0000%	4h	1,311.5	−0.150%	$543K	$14K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,310.6	−0.219%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,312.6	−0.069%	$10K	$33K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,311.3	−0.167%	—	—	—	as long as short
Aster XPDUSDT	+0.0016%	4h	1,313	−0.036%	$27K	$12K	20x	as long as short
Lighter XPD	+0.0032%	1h	1,313.1	−0.030%	$405K	$155K	20x	as long as short

Show all 16 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	+1.469%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,311.6	−0.145%	$2.7M	$513K	20x	as long as short
OKX XPD-USDT-SWAPlong	+0.0079%	8h	1,313.5	long leg	$314K	$475K	50x
Bitget XPDUSDT	+0.0086%	4h	1,311.9	−0.121%	$5.0M	$217K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,312.4	−0.085%	$171K	$5K	75x	as long as short
GRVT XPD_USDT_Perp	+0.0504%	4h	1,312.7	−0.058%	$340K	$809K	25x	as long as short