Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.083%

Price spread now: GMX against Bybit+0.010%7-day average +0.025% · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.241%−$24 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.010%, 7d avg +0.025%

Together, before fees−0.215%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5230	0.0100	pay 0.0100% / 8h	7h 51m	$353.5M	$947.4M	100x
Short	GMX XRP/USD [ETH-USDC]	1.5232	L +0.0114% / S −0.0077%	get 0.0010% / 1h	51m 17s	$789K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$4.85
Price spread: +0.010% → +0.025%: −$1.43
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$29.28
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.33 bp	6.9 bp −$7	9.1 bp −$91	15.6 bp −$1,561	29.0 bp −$14.5K
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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5238	+0.051%	$14.8M	$76.0M	50x	as long as short
Phemex XRPUSDT	−0.0116%	8h	1.5229	−0.007%	$54.4M	$32.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5228	−0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5207	−0.148%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5200	−0.197%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5233	+0.017%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5237	+0.046%	$7.7M	$23.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.167%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5220	−0.064%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5233	+0.020%	$2.8M	$14.5M	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	1.5221	−0.059%	$608K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5229	−0.007%	$20K	$382K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5229	−0.003%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5239	+0.059%	$38.6M	$85.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5218	−0.076%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5238	+0.055%	$531.6M	$2.21B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5230	long leg	$353.5M	$947.4M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5232	+0.013%	$127.1M	$862.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5207	−0.151%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5242	+0.079%	$144K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.266%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5235	+0.033%	$379.9M	$151.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5238	+0.053%	$313.3M	$912.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5239	+0.062%	$106.8M	$183.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5232	+0.013%	$270.2M	$386.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5230	0.000%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5181	−0.322%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5214	−0.104%	$661K	$112.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5218	−0.079%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5223	−0.046%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5237	+0.046%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5239	+0.059%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5234	+0.026%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5234	+0.026%	$78K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5206	−0.155%	$818K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5240	+0.068%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5234	+0.026%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5236	+0.041%	$49.7M	$15.2M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5222	−0.050%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5228	−0.015%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5232	+0.012%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0114% / S −0.0077%	1h	1.5232	+0.010%	$789K	—	200x
01 Exchange XRPUSD	+0.0144%	1h	1.5241	+0.072%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5239	+0.059%	$5.6M	$48.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5220	−0.066%	$1.7M	$33.5M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5233	+0.020%	$23.7M	$78.0M	125x	as long as short
Hyperliquid XRP	+0.0221%	1h	1.5251	+0.138%	$291.3M	$267.7M	20x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5234	+0.028%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0274%	1h	1.5223	−0.046%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5239	+0.059%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0538%	1h	1.5205	−0.167%	$2K	$16K	10x	as long as short