Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Bulk−0.464%7-day average −0.069% · 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−$67as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Bulk Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now −0.464%, 7d avg −0.069%

Together, before fees+0.254%+$25 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: HTX is 0.395% cheaper against Bulk than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5429	0.0100	pay 0.0013% / 1h	18m 44s	$1.6M	$8K	20x
Short	HTX XRP-USDT	1.5357	0.0100	get 0.0100% / 8h	6h 18m	$50.1M	$14.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bulk. 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 BulkbpFee HTXbpOrdersPrice spread, now −0.464%Rate

Funding earned: $0
Price spread: −0.464% → −0.069%: −$39.54
Slippage, 4 orders: −$8.46
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$67
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Bulk: live order book, 3 min ago; HTX: 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 Bulk live order book, 3 min ago	0.65 bp	4.1 bp −$4	4.3 bp −$43	12.0 bp −$1,204	31.9 bp −$16.0K
Sell HTX live order book, 3 min ago	0.03 bp	10.1 bp −$10	11.5 bp −$115	30.0 bp −$2,998	144.5 bp −$72.2K

XRP on 50 exchanges

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	1.5377	−0.336%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5364	−0.422%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5363	−0.427%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.448%	$249K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5360	−0.448%	$14.1M	$72.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.850%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5366	−0.408%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5357	−0.467%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5362	−0.434%	$605K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5373	−0.363%	$17K	$77K	7x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0099%	8h	1.5360	−0.444%	$479K	$51K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5360	−0.446%	$9K	$397K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5359	−0.451%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5350	−0.511%	$39.5M	$82.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5360	−0.446%	$589K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5351	−0.505%	$535.7M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5353	−0.492%	$362.5M	$902.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5352	−0.498%	$124.3M	$845.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	−0.252%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5368	−0.395%	$165K	$693K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5429	long leg	$1.6M	$8K	20x
Gate XRP_USDT	+0.0100%	8h	1.5355	−0.479%	$379.4M	$160.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5348	−0.524%	$314.2M	$916.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5350	−0.509%	$106.7M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5356	−0.472%	$272.3M	$360.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5351	−0.505%	—	$104.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	−0.360%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	−0.299%	$668K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5374	−0.356%	$1.1M	$31.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5391	−0.246%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5367	−0.399%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5362	−0.434%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5360	−0.446%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	−0.453%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5363	−0.428%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5356	−0.472%	$30K	$1.5M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5357	−0.464%	$50.1M	$14.2M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5360	−0.446%	$54.8M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5345	−0.545%	$2.1M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5355	−0.481%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5366	−0.408%	$5.5M	$45.6M	50x	as long as short
Hyperliquid XRP	+0.0130%	1h	1.5369	−0.388%	$298.4M	$268.4M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0154% / S −0.0125%	1h	1.5361	−0.442%	$800K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0154%	8h	1.5368	−0.395%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0201%	1h	1.5368	−0.395%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5353	−0.492%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5368	−0.392%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5383	−0.300%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0458%	1h	1.5378	−0.332%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	−0.187%	$69K	$109K	15x	as long as short