Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0338%/8h= +37.1% APRpaid last 24h +0.063%

Price spread now: Hyperliquid against Aster+0.083%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.083%, 7d avg +0.037%

Together, before fees+0.102%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hyperliquid is 0.046% dearer against Aster than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.037%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% 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	Aster XRPUSDT	1.5250	0.0100	pay 0.0100% / 8h	2h 40m	$38.8M	$71.5M	100x
Short	Hyperliquid XRP	1.5262	0.0438	get 0.0055% / 1h	40m 37s	$279.9M	$179.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.083%Rate

Funding earned: $71.07
Price spread: +0.083% → +0.037%: $4.55
Slippage, 4 orders: −$2.03
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $56.59
Costs to cover: 0.190%
Break-even: 1.4 days

Slippage from Aster: live order book, 3 min ago; Hyperliquid: live order book, 3 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 Aster live order book, 3 min ago	0.33 bp	4.9 bp −$5	5.4 bp −$54	14.3 bp −$1,432	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.33 bp	4.8 bp −$5	4.8 bp −$48	9.6 bp −$964	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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5263	+0.085%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5266	+0.106%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5251	+0.008%	$1.1M	$100K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.132%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5272	+0.145%	$9.3M	$23.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5266	+0.103%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.263%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5261	+0.073%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5254	+0.027%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5250	+0.001%	$443K	$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	1.5265	+0.100%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5250	long leg	$38.8M	$71.5M	100x
Pacifica XRP	+0.0100%	1h	1.5251	+0.008%	$664K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5252	+0.012%	$545.2M	$1.83B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5256	+0.040%	$342.2M	$832.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5255	+0.034%	$122.7M	$825.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5210	−0.261%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5252	+0.014%	$115K	$645K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5260	+0.070%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5245	−0.032%	$355.3M	$128.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5248	−0.012%	$291.0M	$797.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5245	−0.031%	$111.6M	$146.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5266	+0.106%	$265.2M	$336.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5246	−0.025%	—	$112.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5263	+0.084%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	−0.337%	$660K	$95.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5187	−0.410%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5201	−0.320%	$1.0M	$830K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5261	+0.071%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5270	+0.132%	$51K	$459K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5262	+0.079%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5263	+0.084%	$822K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5267	+0.109%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5272	+0.145%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5260	+0.065%	$50.2M	$14.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5264	+0.093%	$54.6M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5248	−0.011%	$475K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5249	−0.005%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5245	−0.030%	$2.0M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5261	+0.071%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0117%	1h	1.5273	+0.152%	$1.7M	$924K	25x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5252	+0.014%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5271	+0.141%	$15.2M	$62.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5275	+0.165%	$5.3M	$42.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5266	+0.108%	$1.3M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0216%	8h	1.5274	+0.159%	$1.7M	$31.7M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5262	+0.080%	$24.0M	$66.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5268	+0.118%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5255	+0.032%	$404K	$502K	10x	as long as short
Hyperliquid XRPshort	+0.0438%	1h	1.5262	+0.083%	$279.9M	$179.6M	20x
Aftermath Perps XRPUSD	+0.0516%	1h	1.5239	−0.072%	$1K	$10K	10x	as long as short