Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Hotstuff against Binance−0.124%7-day average — · you buy dearer than you sell

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

Long on Binance 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 airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.124% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5345	0.0100	pay 0.0100% / 8h	2m 17s	$541.6M	$2.07B	100x
Short	Hotstuff XRP-PERP	1.5326	−0.0080	pay 0.0010% / 1h	2m 17s	$7K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$37.8
Price spread: −0.124% → 0.000%: −$12.38
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$65.18
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	0.33 bp	5.3 bp −$5	6.8 bp −$68	12.5 bp −$1,249	25.6 bp −$12.8K
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
Hotstuff XRP-PERPshort	−0.0080%	1h	1.5326	−0.124%	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5322	−0.153%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	−0.098%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5341	−0.025%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0007% / S +0.0090%	1h	1.5340	−0.031%	$841K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5347	+0.013%	$9.3M	$25.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5345	−0.002%	$14.9M	$70.2M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5344	−0.007%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.401%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5346	+0.005%	$2.9M	$13.8M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5350	+0.033%	$512K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5337	−0.049%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5344	−0.005%	$38.8M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5326	−0.124%	$631K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5345	long leg	$541.6M	$2.07B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5347	+0.013%	$340.2M	$932.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5347	+0.013%	$125.8M	$885.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5324	−0.137%	$570K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	−0.163%	$117K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.078%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5340	−0.033%	$362.3M	$149.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5346	+0.007%	$302.5M	$901.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5344	−0.008%	$108.7M	$166.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5347	+0.013%	$268.4M	$377.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5347	+0.013%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5290	−0.356%	$8.2M	$33.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5317	−0.180%	$665K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5319	−0.167%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5290	−0.358%	$1.0M	$901K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5336	−0.061%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	+0.007%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5343	−0.012%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5345	+0.002%	$826K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5347	+0.012%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5343	−0.013%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5343	−0.011%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5344	−0.007%	$54.7M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5324	−0.134%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5343	−0.013%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5341	−0.029%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5341	−0.026%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5329	−0.104%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5344	−0.006%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−0.143%	$24.0M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5353	+0.052%	$5.8M	$47.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5334	−0.072%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5326	−0.121%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5343	−0.013%	$2.3M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0555%	1h	1.5358	+0.085%	$290.4M	$216.0M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5338	−0.048%	$525K	$746K	10x	as long as short
Aftermath Perps XRPUSD	+0.0779%	1h	1.5333	−0.081%	$1K	$11K	10x	as long as short