Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Bulk+0.823%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$26as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on Bulk Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.982%−$98 · spread now +0.823%, 7d avg −0.007%

Together, before fees−0.980%−$98 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: SunX is 0.830% dearer against Bulk than usual: you sell high and buy low, +$83 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5201	0.0100	pay 0.0013% / 1h	24m 33s	$1.6M	$350K	20x
Short	SunX XRP-USDT	1.5326	0.0100	get 0.0100% / 8h	2h 24m	$128K	$1.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.823%Rate

Funding earned: $0
Price spread: +0.823% → −0.007%: $83.01
Slippage, 4 orders: −$41.57
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $26.43
Costs to cover: 0.566%
Break-even: from the start

Slippage from Bulk: live order book, 5 min ago; SunX: live order book, 11 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, 5 min ago	0.66 bp	4.2 bp −$4	5.5 bp −$55	10.7 bp −$1,067	24.9 bp −$12.4K
Sell SunX live order book, 11 min ago	15.00 bp	24.0 bp −$24	30.9 bp −$309	doesn't fit	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 −0.0210% / S +0.0297%	1h	1.5329	+0.838%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5340	+0.913%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5345	+0.945%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	+0.782%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5324	+0.808%	$9.2M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5329	+0.839%	$257K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.584%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5321	+0.788%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5346	+0.956%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5349	+0.973%	$445K	$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	1.5338	+0.904%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5350	+0.978%	$38.9M	$71.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5344	+0.940%	$668K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5339	+0.906%	$548.4M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5337	+0.894%	$343.4M	$836.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5335	+0.881%	$123.8M	$833.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	+0.631%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5345	+0.946%	$115K	$647K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5201	long leg	$1.6M	$350K	20x
Gate XRP_USDT	+0.0100%	8h	1.5338	+0.900%	$367.8M	$131.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5338	+0.900%	$288.6M	$806.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5347	+0.962%	$112.9M	$147.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5337	+0.894%	$266.7M	$339.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5337	+0.894%	—	$113.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	+0.788%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	+0.448%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	+0.706%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	+0.519%	$1.0M	$850K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5334	+0.873%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5340	+0.913%	$49K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5330	+0.849%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5321	+0.789%	$825K	$70K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5326	+0.823%	$128K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5320	+0.782%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5326	+0.818%	$50.4M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5323	+0.802%	$54.8M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5340	+0.914%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5338	+0.900%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5335	+0.881%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5320	+0.783%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5345	+0.946%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0155%	1h	1.5345	+0.946%	$1.7M	$925K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5324	+0.811%	$15.4M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5331	+0.854%	$5.4M	$43.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5336	+0.889%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5330	+0.848%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5332	+0.861%	$23.8M	$67.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5334	+0.876%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5348	+0.968%	$404K	$497K	10x	as long as short
Hyperliquid XRP	+0.0473%	1h	1.5367	+1.091%	$282.9M	$181.7M	20x	as long as short
Aftermath Perps XRPUSD	+0.0530%	1h	1.5269	+0.443%	$1K	$11K	10x	as long as short