Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against Variational Omni−0.057%7-day average +0.011% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.057%, 7d avg +0.011%

Together, before fees+0.113%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.068% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.011%). If the spread goes back, that is −$7 on $10k: about 7.1 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	Variational Omni XPD	1,296.8	0	get 0.0000% / 4h	1h 15m	$535K	$24K	—
Short	Lighter XPD	1,296.1	0.0032	get 0.0004% / 1h	15m 15s	$399K	$160K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: $6.72
Price spread: −0.057% → +0.011%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.06
Costs to cover: 0.000%
Break-even: 7.1 days

Slippage unknown: Variational Omni: RFQ quote, 29 min ago; Lighter: live order book, 19 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 29 min ago	3.01 bp	doesn't fit	58.4 bp −$584	doesn't fit	doesn't fit
Sell Lighter live order book, 19 min ago	1.93 bp	27.3 bp −$27	55.4 bp −$554	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
Gate XPD_USDT	0.0000%	4h	1,297	+0.009%	$2.0M	$481K	100x	as long as short
Variational Omni XPDlong	0.0000%	4h	1,296.8	long leg	$535K	$24K	—
SunX XPD-USDT	0.0000%	4h	1,295.2	−0.130%	—	$1.7M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,296.7	−0.010%	$10K	$35K	20x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,293.9	−0.224%	—	—	—	as long as short
Lighter XPDshort	+0.0032%	1h	1,296.1	−0.057%	$399K	$160K	20x
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+2.773%	$16K	$20K	52x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0050%	1h	1,294.4	−0.188%	$2.7M	$459K	20x	as long as short
MEXC XPD_USDT	+0.0076%	4h	1,295.8	−0.084%	$13.0M	$271K	100x	as long as short
Binance XPDUSDT	+0.0077%	4h	1,297.4	+0.047%	$3.7M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	+0.0099%	4h	1,297.8	+0.071%	$30K	$20K	100x	as long as short
KuCoin XPDUSDTM	+0.0100%	4h	1,296.3	−0.039%	$168K	$7K	75x	as long as short
edgeX XPDUSDC	+0.0101%	4h	1,296.4	−0.038%	$37K	$206K	10x	as long as short
OKX XPD-USDT-SWAP	+0.0280%	8h	1,297.5	+0.051%	$323K	$476K	50x	as long as short
Aster XPDUSDT	+0.0354%	4h	1,296.6	−0.023%	$27K	$6K	20x	as long as short
Bitget XPDUSDT	+0.0460%	4h	1,295.8	−0.078%	$5.0M	$246K	100x	as long as short
GRVT XPD_USDT_Perp	+0.0700%	4h	1,295.9	−0.072%	$337K	$689K	25x	as long as short