Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.085%

Price spread now: GMX against Binance−0.100%100s7-day average +0.019% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.239%−$24 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.100%, 7d avg +0.019%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.119% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.019%). Swap the legs. The two prices were read 100 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	Binance XRPUSDT	1.5163	0.0100	pay 0.0100% / 8h	1h 33m	$531.4M	$2.22B	100x
Short	GMX XRP/USD [ETH-USDC]	1.5148	L +0.0083% / S −0.0031%	get 0.0004% / 1h	33m 44s	$799K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$14.4
Price spread: −0.100% → +0.019%: −$11.91
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$48.31
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; GMX: 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 Binance live order book, 10 min ago	0.33 bp	5.8 bp −$6	6.8 bp −$68	13.4 bp −$1,335	31.2 bp −$15.6K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5144	−0.125%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5157	−0.038%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.046%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	−0.152%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5143	−0.135%	$14.4M	$75.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.618%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5146	−0.112%	$7.7M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0083% / S −0.0031%	1h	1.5148	−0.100%	$799K	—	200x
Lighter XRP	+0.0096%	1h	1.5165	+0.014%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5167	+0.026%	$545K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange XRPUSD	+0.0096%	1h	1.5145	−0.119%	$8K	$8K	10x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5136	−0.178%	$12K	$368K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5136	−0.180%	$977K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5163	0.000%	$38.5M	$87.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5164	+0.007%	$617K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5163	long leg	$531.4M	$2.22B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5162	−0.007%	$345.8M	$962.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5165	+0.013%	$127.3M	$883.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−0.079%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5171	+0.053%	$143K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5145	−0.119%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5151	−0.079%	$376.1M	$160.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5166	+0.020%	$299.5M	$923.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	+0.017%	$107.3M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5164	+0.006%	$267.5M	$397.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5165	+0.013%	—	$105.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5146	−0.113%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5160	−0.021%	$660K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5158	−0.033%	$1.1M	$36.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	+0.039%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5144	−0.129%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5139	−0.158%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5143	−0.132%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5144	−0.125%	$65K	$774K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.096%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5148	−0.099%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5143	−0.132%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5151	−0.078%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5144	−0.125%	$54.2M	$32.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5173	+0.063%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5162	−0.008%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5141	−0.145%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5146	−0.110%	$17K	$79K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0163%	1h	1.5160	−0.020%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5144	−0.125%	$5.7M	$48.2M	50x	as long as short
Hyperliquid XRP	+0.0176%	1h	1.5166	+0.020%	$288.3M	$264.6M	20x	as long as short
Kalshi KXXRPPERP	+0.0208%	8h	1.5144	−0.125%	$1.7M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5134	−0.189%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5147	−0.106%	$23.6M	$77.8M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5171	+0.053%	$524K	$798K	10x	as long as short
Aftermath Perps XRPUSD	+0.0596%	1h	1.5148	−0.101%	$2K	$16K	10x	as long as short