Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Arcus−0.039%54s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.187% of the position

Long on Arcus Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now −0.039%, 7d avg +0.021%

Together, before fees+0.362%+ Points / potential airdropGRVT: Active · farm board+$36 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.060% cheaper against Arcus than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5089	0.0100	pay 0.0013% / 1h	16m 43s	$144K	$712K	20x
Short	GRVT XRP_USDT_Perp	1.5083	0.0100	get 0.0100% / 8h	2h 16m	$1.1M	$37.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Arcus. 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 ArcusbpFee GRVTbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.021%: −$6
Slippage, 4 orders: −$5.25
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$24.75
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Arcus: live order book, 32 min ago; GRVT: live order book, 2 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 Arcus live order book, 32 min ago	0.99 bp	3.2 bp −$3	5.4 bp −$54	24.2 bp −$2,418	doesn't fit
Sell GRVT live order book, 2 min ago	0.33 bp	5.1 bp −$5	14.0 bp −$140	74.3 bp −$7,426	doesn't fit

XRP on 51 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5073	−0.106%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5079	−0.064%	$14.2M	$74.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5078	−0.070%	$1.1M	$133K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	+0.007%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5078	−0.071%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.121%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0071% / S −0.0014%	1h	1.5077	−0.081%	$794K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5084	−0.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5085	−0.030%	$2.8M	$15.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5085	−0.027%	$545K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5080	−0.060%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5082	−0.043%	$976K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5081	−0.053%	$38.3M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5083	−0.041%	$600K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5081	−0.053%	$524.5M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5080	−0.060%	$344.1M	$964.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5080	−0.060%	$126.0M	$883.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5044	−0.298%	$561K	$31K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5089	long leg	$144K	$712K	20x
Bulk XRP-USD	+0.0100%	1h	1.5026	−0.414%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5079	−0.066%	$370.5M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5080	−0.060%	$287.6M	$923.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5080	−0.061%	$105.5M	$180.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5076	−0.086%	$264.7M	$397.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5078	−0.073%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5046	−0.286%	$4.7M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5054	−0.230%	$654K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5083	−0.039%	$1.1M	$37.2M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5092	+0.020%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5087	−0.015%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5084	−0.033%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5079	−0.066%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5080	−0.060%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5081	−0.056%	$811K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5089	+0.002%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5082	−0.046%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5083	−0.042%	$49.3M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5078	−0.073%	$53.8M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5090	+0.005%	$470K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5076	−0.089%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5080	−0.056%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0107%	1h	1.5095	+0.040%	$288.1M	$262.1M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0148%	1h	1.5087	−0.013%	$7.7M	$25.5M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5090	+0.007%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0192%	1h	1.5088	−0.007%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0192%	1h	1.5090	+0.007%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0193%	8h	1.5090	+0.007%	$1.7M	$35.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5077	−0.077%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5077	−0.080%	$23.1M	$77.0M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5088	−0.005%	$519K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0599%	1h	1.5059	−0.202%	$2K	$16K	10x	as long as short