Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.026%

Price spread now: SunX against Coinbase International−0.010%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now −0.010%, 7d avg −0.009%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$4 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	1.5358	0.0224	pay 0.0028% / 1h	7m 54s	$5.7M	$46.7M	50x
Short	SunX XRP-USDT	1.5356	0.0100	get 0.0100% / 8h	7h 07m	$129K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$26.04
Price spread: −0.010% → −0.009%: −$0.15
Slippage, 4 orders: −$45.34
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$89.52
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 6 min ago; SunX: live order book, 8 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, 6 min ago	0.65 bp	7.1 bp −$7	9.0 bp −$90	26.7 bp −$2,673	doesn't fit
Sell SunX live order book, 8 min ago	17.60 bp	27.1 bp −$27	34.6 bp −$346	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5366	+0.052%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5342	−0.107%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5348	−0.067%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0018% / S +0.0073%	1h	1.5347	−0.073%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.315%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5351	−0.046%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5339	−0.124%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5355	−0.019%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5357	−0.007%	$515K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5338	−0.130%	$9K	$281K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5333	−0.165%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5332	−0.173%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5351	−0.048%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5342	−0.107%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5357	−0.004%	$542.6M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5358	0.000%	$342.1M	$919.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5360	+0.013%	$124.6M	$868.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5322	−0.234%	$572K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5338	−0.130%	$117K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.544%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5355	−0.020%	$375.0M	$151.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5351	−0.046%	$304.8M	$915.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5356	−0.012%	$111.1M	$166.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5357	−0.007%	$269.5M	$375.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5343	−0.098%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5354	−0.026%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	+0.012%	$667K	$106.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5362	+0.026%	$1.1M	$37.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5376	+0.117%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5348	−0.068%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5347	−0.072%	$47K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5349	−0.057%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5353	−0.034%	$826K	$74K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5356	−0.010%	$129K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5352	−0.039%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5357	−0.004%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5356	−0.013%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5348	−0.063%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.058%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0141%	1h	1.5353	−0.033%	$9.3M	$24.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5344	−0.089%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5359	+0.007%	$24.1M	$74.0M	125x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0224%	1h	1.5358	long leg	$5.7M	$46.7M	50x
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5355	−0.021%	$14.5M	$70.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0311%	1h	1.5356	−0.013%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5374	+0.104%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5352	−0.039%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0377%	1h	1.5371	+0.085%	$290.6M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5360	+0.013%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5341	−0.111%	$543K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0838%	1h	1.5354	−0.026%	$2K	$13K	10x	as long as short