Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.042%

Price spread now: GRVT against Coinbase International−0.210%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.242%+$24 · spread now −0.210%, 7d avg −0.032%

Together, before fees+0.254%+ Points / potential airdropGRVT: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GRVT is 0.178% cheaper against Coinbase International than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5253	0.0192	pay 0.0024% / 1h	28m 40s	$5.4M	$43.3M	50x
Short	GRVT XRP_USDT_Perp	1.5221	0.0100	get 0.0100% / 8h	2h 28m	$1.1M	$41.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Coinbase International. 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 Coinbase InternationalbpFee GRVTbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$19.32
Price spread: −0.210% → −0.032%: −$17.79
Slippage, 4 orders: −$4.86
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$60.97
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; GRVT: live order book, 5 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 Coinbase International live order book, 5 min ago	0.33 bp	7.2 bp −$7	10.1 bp −$101	24.5 bp −$2,451	doesn't fit
Sell GRVT live order book, 5 min ago	0.33 bp	4.8 bp −$5	10.8 bp −$108	51.8 bp −$5,181	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	1.5244	−0.061%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5251	−0.013%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5249	−0.027%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5220	−0.216%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5253	0.000%	$9.2M	$24.0M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5244	−0.056%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.243%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5243	−0.066%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5250	−0.018%	$2.9M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5252	−0.007%	$443K	$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	1.5244	−0.056%	$1.0M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5253	−0.002%	$38.8M	$71.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5250	−0.020%	$664K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5247	−0.039%	$545.4M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5249	−0.026%	$341.4M	$834.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5245	−0.052%	$122.9M	$827.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5228	−0.164%	$566K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5251	−0.013%	$114K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.340%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5247	−0.039%	$356.1M	$129.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5248	−0.033%	$288.7M	$803.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5248	−0.035%	$113.1M	$147.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5246	−0.046%	$265.4M	$338.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5245	−0.052%	—	$113.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5205	−0.316%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	−0.335%	$661K	$95.5M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5221	−0.210%	$1.1M	$41.7M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.321%	$1.0M	$848K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5237	−0.105%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5243	−0.066%	$49K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5242	−0.069%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5247	−0.042%	$821K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5248	−0.031%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5248	−0.033%	$27K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5227	−0.168%	$50.1M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5249	−0.026%	$54.5M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5249	−0.028%	$475K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5253	0.000%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5245	−0.051%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5247	−0.039%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0126%	1h	1.5260	+0.046%	$1.7M	$915K	25x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5251	−0.013%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5251	−0.014%	$15.3M	$63.3M	50x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0192%	1h	1.5253	long leg	$5.4M	$43.3M	50x
Kalshi KXXRPPERP	+0.0207%	8h	1.5237	−0.105%	$1.7M	$31.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5244	−0.059%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5233	−0.131%	$23.8M	$66.4M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5206	−0.307%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5255	+0.016%	$404K	$496K	10x	as long as short
Hyperliquid XRP	+0.0451%	1h	1.5270	+0.111%	$280.0M	$181.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0546%	1h	1.5235	−0.119%	$1K	$11K	10x	as long as short