Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.031%

Price spread now: HTX against Coinbase International−0.059%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.059%, 7d avg −0.067%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.067%, 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	Coinbase International XRP-PERP-INTX	1.5353	0.0120	pay 0.0015% / 1h	55m 03s	$5.4M	$46.4M	50x
Short	HTX XRP-USDT	1.5344	0.0100	get 0.0100% / 8h	6h 55m	$50.1M	$14.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$4.2
Price spread: −0.059% → −0.067%: $0.76
Slippage, 4 orders: −$5.45
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$30.89
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: live order book, 4 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, 4 min ago	0.32 bp	5.7 bp −$6	8.9 bp −$89	29.3 bp −$2,928	doesn't fit
Sell HTX live order book, 4 min ago	0.03 bp	8.7 bp −$9	12.0 bp −$120	26.9 bp −$2,691	doesn't fit

XRP on 50 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-PERP	−0.0080%	1h	1.5396	+0.280%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.161%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	+0.502%	$69K	$109K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5353	0.000%	$7.9M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.818%	$251K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5354	+0.007%	$14.0M	$73.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.348%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5439	+0.561%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	−0.001%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5356	+0.020%	$618K	$3.1M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5348	−0.033%	$17K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.127%	$479K	$51K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	+0.010%	$989K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5338	−0.098%	$39.0M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5379	+0.169%	$608K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5338	−0.098%	$535.1M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5333	−0.130%	$356.0M	$908.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5333	−0.130%	$125.0M	$849.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	+0.528%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5356	+0.020%	$166K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	+0.466%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5341	−0.078%	$383.2M	$156.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5320	−0.215%	$304.0M	$897.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5351	−0.011%	$109.1M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5331	−0.143%	$271.1M	$362.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5339	−0.091%	—	$106.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5429	+0.498%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5432	+0.516%	$672K	$113.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5452	+0.647%	$1.1M	$32.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5438	+0.554%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5374	+0.136%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	−0.046%	$52K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5351	−0.013%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	+0.039%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5354	+0.005%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5353	0.000%	$30K	$1.6M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5344	−0.059%	$50.1M	$14.7M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5353	0.000%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5328	−0.164%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5371	+0.117%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5347	−0.039%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0120%	1h	1.5353	long leg	$5.4M	$46.4M	50x
Backpack XRP_USDC_PERP	+0.0126%	1h	1.5346	−0.046%	$2.0M	$1.3M	25x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0145% / S −0.0113%	1h	1.5348	−0.035%	$822K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5371	+0.117%	$1.7M	$32.9M	2.9x	as long as short
Hyperliquid XRP	+0.0200%	1h	1.5353	0.000%	$295.1M	$268.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5343	−0.065%	$23.8M	$79.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5347	−0.036%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5355	+0.014%	$513K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0496%	1h	1.5446	+0.607%	$3K	$15K	10x	as long as short