Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against Aster+0.030%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.030% dearer against Aster than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5189	0.0100	pay 0.0100% / 8h	2h 38m	$38.6M	$71.7M	100x
Short	Hotstuff XRP-PERP	1.5194	−0.0080	pay 0.0010% / 1h	38m 39s	$7K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Aster. 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 AsterbpFee HotstuffbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$37.8
Price spread: +0.030% → 0.000%: $2.99
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$47.81
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 5 min ago; Hotstuff: no order-book sample. 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 Aster live order book, 5 min ago	0.33 bp	4.9 bp −$5	5.4 bp −$54	14.3 bp −$1,432	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5210	+0.134%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERPshort	−0.0080%	1h	1.5194	+0.030%	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5214	+0.163%	$1.1M	$100K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.530%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5196	+0.043%	$9.2M	$23.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	+0.144%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.662%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5208	+0.122%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5189	−0.001%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5191	+0.010%	$441K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5203	+0.089%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5189	long leg	$38.6M	$71.7M	100x
Pacifica XRP	+0.0100%	1h	1.5213	+0.152%	$662K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5209	+0.129%	$543.7M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5206	+0.109%	$340.8M	$834.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5206	+0.109%	$122.5M	$825.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5181	−0.056%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5216	+0.175%	$114K	$645K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5260	+0.467%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5210	+0.135%	$354.9M	$129.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5210	+0.135%	$292.1M	$798.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5186	−0.021%	$111.3M	$146.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5209	+0.129%	$264.7M	$337.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5210	+0.135%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5263	+0.481%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5261	+0.474%	$663K	$95.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5246	+0.375%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5264	+0.491%	$1.0M	$842K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5208	+0.122%	$52K	$460K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5210	+0.136%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5208	+0.120%	$819K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5213	+0.156%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5181	−0.056%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5184	−0.036%	$50.0M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5191	+0.010%	$54.3M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5212	+0.152%	$474K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5215	+0.171%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5219	+0.194%	$12K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5208	+0.123%	$2.1M	$7.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5209	+0.125%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0107%	1h	1.5198	+0.056%	$1.7M	$921K	25x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5212	+0.148%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0172%	1h	1.5174	−0.103%	$15.3M	$63.0M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5185	−0.029%	$5.4M	$42.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5205	+0.102%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5195	+0.036%	$23.7M	$65.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0223%	8h	1.5203	+0.089%	$1.7M	$31.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5256	+0.436%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5217	+0.183%	$403K	$498K	10x	as long as short
Hyperliquid XRP	+0.0435%	1h	1.5206	+0.109%	$278.8M	$179.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0508%	1h	1.5238	+0.322%	$1K	$10K	10x	as long as short