Funding arb · Price arb /

XPD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.029%

Price spread now: Bitget against tradeXYZ+0.074%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days+0.034%+$3 · spread now +0.074%, 7d avg +0.109%

Together, before fees+0.078%+ Points / potential airdroptradeXYZ: Active · farm board+$8 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 Bitget is 0.035% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.109%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:PALLADIUM	1,291.1	0.0050	pay 0.0006% / 1h	7m 40s	$2.7M	$567K	20x
Short	Bitget XPDUSDT	1,292.1	0	get 0.0000% / 4h	7m 40s	$5.0M	$321K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$10.5
Price spread: +0.074% → +0.109%: −$3.49
Slippage, 4 orders: −$34.06
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.06
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; Bitget: 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 tradeXYZ live order book, 3 min ago	1.94 bp	14.3 bp −$14	22.8 bp −$228	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	6.08 bp	19.1 bp −$19	46.3 bp −$463	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
BloFin XPD-USDT	−0.0046%	4h	1,292.4	+0.097%	$34K	$24K	100x	as long as short
edgeX XPDUSDC	−0.0002%	4h	1,291.3	+0.014%	$37K	$205K	10x	as long as short
Aster XPDUSDT	0.0000%	4h	1,292.5	+0.105%	$26K	$4K	20x	as long as short
Binance XPDUSDT	0.0000%	4h	1,292.9	+0.139%	$3.7M	$5.3M	100x	as long as short
OKX XPD-USDT-SWAP	0.0000%	8h	1,292.8	+0.132%	$359K	$598K	50x	as long as short
Gate XPD_USDT	0.0000%	4h	1,293.2	+0.161%	$2.0M	$490K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,293	+0.145%	$13.5M	$430K	100x	as long as short
Bitget XPDUSDTshort	0.0000%	4h	1,292.1	+0.074%	$5.0M	$321K	100x
Variational Omni XPD	0.0000%	4h	1,291.1	−0.002%	$525K	$36K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,291.3	+0.015%	—	$1.4M	10x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XPD-USDT	0.0000%	4h	1,292.5	+0.111%	$10K	$36K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,290.4	−0.053%	—	—	—	as long as short
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+3.230%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUMlong	+0.0050%	1h	1,291.1	long leg	$2.7M	$567K	20x
KuCoin XPDUSDTM	+0.0100%	4h	1,292.5	+0.108%	$168K	$8K	75x	as long as short
Lighter XPD	+0.0304%	1h	1,292.3	+0.093%	$397K	$159K	20x	as long as short
GRVT XPD_USDT_Perp	+0.0352%	4h	1,290.9	−0.015%	$334K	$628K	25x	as long as short