Funding arb · Price arb /

XPT

RWAall XPT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0440%/8h= −48.2% APRpaid last 24h −0.065%

Price spread now: Gate against Lighter−0.001%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.001%, 7d avg −0.032%

Together, before fees−0.368%+ Points / potential airdropLighter: Season 3 · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.031% dearer against Lighter than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.032%): +$3 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.376% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPT	1,807.3	0.0712	pay 0.0089% / 1h	16m 09s	$358K	$15K	20x
Short	Gate XPT_USDT	1,807.3	0.0272	get 0.0136% / 4h	2h 16m	$632K	$419K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now −0.001%Rate

Funding earned: −$92.4
Price spread: −0.001% → −0.032%: $3.14
Slippage, 4 orders: −$35
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$139.26
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Lighter: live order book, 43 min ago; Gate: live order book, 50 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 Lighter live order book, 43 min ago	1.93 bp	9.1 bp −$9	23.7 bp −$237	doesn't fit	doesn't fit
Sell Gate live order book, 50 min ago	0.52 bp	16.8 bp −$17	21.4 bp −$214	doesn't fit	doesn't fit

XPT on 20 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	1,806.8	−0.028%	$11K	$37K	30x	as long as short
gTrade (Gains Network) XPT/USD	L +0.0006% / S −0.0006%	1h	1,803.5	−0.209%	$231	—	150x	as long as short
Vest PL-PERP	+0.0046%	1h	1,804.5	−0.155%	—	$50	25x	as long as short
Pacifica PLATINUM	+0.0100%	1h	1,805.1	−0.122%	$13K	$29K	10x	as long as short
Aevo PLATINUM-PERP	+0.0104%	1h	1,806.2	−0.060%	$307	—	10x	as long as short
Injective XPT/USDC PERP	+0.0220%	1h	1,827.4	+1.113%	$6K	$34K	52x	as long as short
KuCoin XPTUSDTM	+0.0248%	4h	1,807.2	−0.007%	$201K	$17K	75x	as long as short
tradeXYZ xyz:PLATINUM	+0.0250%	1h	1,804.5	−0.155%	$3.6M	$992K	20x	as long as short
Gate XPT_USDTshort	+0.0272%	4h	1,807.3	−0.001%	$632K	$419K	100x
Variational Omni XPT	+0.0395%	4h	1,807.3	−0.003%	$281K	$232K	—	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPTUSDT	+0.0452%	4h	1,807	−0.018%	$14K	$10K	20x	as long as short
edgeX XPTUSDC	+0.0463%	4h	1,806.5	−0.045%	$39K	$283K	10x	as long as short
Extended XPT-USD	+0.0464%	1h	1,803.1	−0.231%	$203K	$615K	10x	as long as short
MEXC XPT_USDT	+0.0464%	4h	1,804.8	−0.138%	$23.7M	$657K	100x	as long as short
Binance XPTUSDT	+0.0466%	4h	1,805.9	−0.076%	$4.2M	$3.8M	100x	as long as short
Paradex XPT-USD-PERP	+0.0514%	8h	1,806.7	−0.033%	$3K	—	5x	as long as short
Bitget XPTUSDT	+0.0548%	4h	1,804.9	−0.132%	$1.2M	$373K	100x	as long as short
Lighter XPTlong	+0.0712%	1h	1,807.3	long leg	$358K	$15K	20x
OKX XPT-USDT-SWAP	+0.0722%	8h	1,807.9	+0.033%	$907K	$508K	50x	as long as short
GRVT XPT_USDT_Perp	+0.0948%	4h	1,806.9	−0.022%	$206K	$964K	25x	as long as short