XPD Funding Rate — perpetuals across 12 venues
TradFi perpetual · compared across 12 venues · net of estimated fees · updated every few minutesXPD is a commodity-linked perpetual referencing XPD. Its price tracks the commodity, not an equity.
Live annualized XPD perpetual funding across all 12 venues Perpia tracks. Right now XPD funding is positive on 2 and negative on 2, ranging from +3.5% on Lighter to -34.8% on Hyperliquid — a spread of 38.3%. The widest delta-neutral trade is long Hyperliquid / short Lighter at 35.0% net APR.
XPD funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
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Build a route
any two of the 12 venuesThis is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 12 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Lighter↗short | +3.5% | every 8h | |
| GMTrade↗ | +0.2% | every 1h | |
| MEXC↗ | +0.0% | every 4h | |
| Gate.io↗ | +0.0% | every 4h | |
| Variational↗ | +0.0% | every 4h | |
| OKX↗ | +0.0% | every 8h | |
| Aster↗ | +0.0% | every 4h | |
| HTX↗ | +0.0% | every 4h | |
| Bitget↗ | +0.0% | every 4h | |
| KuCoin↗ | +0.0% | every 4h | |
| below — these venues pay the longs: this is the leg you buy | |||
| trade.xyz↗ | −34.7% | every 1h | |
| Hyperliquid↗long | −34.8% | every 1h | |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Hyperliquid vs Lighter page. 27 pairs scanned for XPD.
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XPD — FAQ
Is XPD funding positive right now?
XPD perpetual funding is positive on 2 of 12 venues Perpia tracks and negative on 2. The highest is +3.5% on Lighter; the lowest is -34.8% on Hyperliquid.
What is the best XPD funding arbitrage right now?
Go long Hyperliquid and short Lighter for about 35.0% net APR after fees — the widest delta-neutral XPD spread Perpia currently sees.
Which exchange has the highest XPD funding rate?
Lighter, at +3.5% annualized. Funding shifts continuously, so check the live table above before trading.
How XPD funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Markets related to XPD
also quoted on both Hyperliquid and LighterThe same two exchanges you would already have funded for the XPD trade. Every spread between them is on the Hyperliquid vs Lighter page.