Funding arb · Price arb /

XPT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0377%/8h= −41.3% APRpaid last 24h 0.000%

Price spread now: tradeXYZ against KuCoin−0.170%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.170%, 7d avg −0.097%

Together, before fees−0.031%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and tradeXYZ is 0.073% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPTUSDTM	1,799.1	0.0578	pay 0.0289% / 4h	59m 03s	$201K	$17K	75x
Short	tradeXYZ xyz:PLATINUM	1,796	0.0201	get 0.0025% / 1h	59m 03s	$3.6M	$975K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against KuCoin. 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 KuCoinbpFee tradeXYZbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$79.19
Price spread: −0.170% → −0.097%: −$7.32
Slippage, 4 orders: −$40.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$156.74
Costs to cover: 0.702%
Break-even: never at this rate

Slippage from KuCoin: live order book, 21 min ago; tradeXYZ: live order book, 9 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 KuCoin live order book, 21 min ago	4.43 bp	15.7 bp −$16	212.7 bp −$2,127	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	1.95 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit

XPT on 21 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
HTX XPT-USDT	0.0000%	4h	1,798.3	−0.040%	$10K	$38K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,794.5	−0.255%	$230	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,795.3	−0.209%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,794.3	−0.266%	$13K	$29K	10x	as long as short
Aevo PLATINUM-PERP	+0.0104%	1h	1,798.1	−0.051%	$306	—	10x	as long as short
tradeXYZ xyz:PLATINUMshort	+0.0201%	1h	1,796	−0.170%	$3.6M	$975K	20x
Injective XPT/USDC PERP	+0.0220%	1h	1,820.4	+1.188%	$6K	$34K	52x	as long as short
Gate XPT_USDT	+0.0400%	4h	1,798.9	−0.009%	$638K	$434K	100x	as long as short
KuCoin XPTUSDTMlong	+0.0578%	4h	1,799.1	long leg	$201K	$17K	75x
Aster XPTUSDT	+0.0665%	4h	1,796.4	−0.149%	$14K	$10K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XPT	+0.0678%	4h	1,798.1	−0.051%	$280K	$214K	—	as long as short
Paradex XPT-USD-PERP	+0.0686%	8h	1,797.9	−0.063%	$3K	—	5x	as long as short
BloFin XPT-USDT	+0.0697%	4h	1,797.9	−0.066%	$89K	$68K	100x	as long as short
edgeX XPTUSDC	+0.0721%	4h	1,798.1	−0.053%	$39K	$283K	10x	as long as short
MEXC XPT_USDT	+0.0738%	4h	1,797.9	−0.066%	$23.6M	$635K	100x	as long as short
Binance XPTUSDT	+0.0740%	4h	1,797.6	−0.080%	$4.3M	$3.8M	100x	as long as short
Lighter XPT	+0.0776%	1h	1,799	−0.003%	$355K	$15K	20x	as long as short
Extended XPT-USD	+0.0776%	1h	1,794.2	−0.270%	$204K	$619K	10x	as long as short
Bitget XPTUSDT	+0.0842%	4h	1,797.2	−0.106%	$1.3M	$389K	100x	as long as short
OKX XPT-USDT-SWAP	+0.0894%	8h	1,798.7	−0.020%	$938K	$560K	50x	as long as short
GRVT XPT_USDT_Perp	+0.1160%	4h	1,798	−0.061%	$205K	$827K	25x	as long as short