Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: SunX against Deribit+0.061%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.061%, 7d avg −0.001%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.062% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5228	0	get 0.0000% / 1h	47m 06s	$7.7M	$23.9M	50x
Short	SunX XRP-USDT	1.5237	0.0100	get 0.0100% / 8h	7h 47m	$128K	$1.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.061%Rate

Funding earned: $21
Price spread: +0.061% → −0.001%: $6.19
Slippage, 4 orders: −$42.64
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$30.44
Costs to cover: 0.576%
Break-even: 17.1 days

Slippage from Deribit: live order book, 2 min ago; SunX: live order book, 9 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 Deribit live order book, 2 min ago	0.33 bp	5.5 bp −$6	7.7 bp −$77	72.4 bp −$7,238	doesn't fit
Sell SunX live order book, 9 min ago	13.49 bp	21.8 bp −$22	31.7 bp −$317	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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5228	−0.002%	$14.8M	$76.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5241	+0.085%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5235	+0.049%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5240	+0.079%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5228	long leg	$7.7M	$23.9M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	−0.016%	$247K	—	150x	as long as short
Phemex XRPUSDT	+0.0007%	8h	1.5228	0.000%	$54.4M	$32.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.180%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5224	−0.026%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5225	−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	1.5229	+0.007%	$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	1.5233	+0.036%	$998K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5225	−0.020%	$38.6M	$85.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5234	+0.040%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5221	−0.049%	$530.6M	$2.20B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5220	−0.053%	$352.3M	$945.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5224	−0.026%	$127.1M	$859.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5228	0.000%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5239	+0.072%	$144K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5227	−0.003%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5222	−0.039%	$379.4M	$151.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5225	−0.020%	$313.6M	$912.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5227	−0.009%	$106.7M	$183.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5223	−0.033%	$269.9M	$384.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5223	−0.033%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	−0.013%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5221	−0.049%	$661K	$113.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5230	+0.013%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5228	0.000%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5234	+0.041%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5232	+0.026%	$52K	$513K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5228	−0.002%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5226	−0.013%	$78K	$667K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5225	−0.020%	$819K	$76K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5237	+0.061%	$128K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5225	−0.020%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5234	+0.040%	$49.7M	$15.2M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5238	+0.063%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5218	−0.068%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5223	−0.031%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0115% / S −0.0078%	1h	1.5222	−0.040%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5236	+0.053%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5227	−0.007%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0174%	8h	1.5236	+0.053%	$1.7M	$33.4M	2.9x	as long as short
Hyperliquid XRP	+0.0197%	1h	1.5239	+0.072%	$291.1M	$267.8M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5225	−0.020%	$23.7M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5221	−0.044%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0270%	1h	1.5236	+0.053%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5239	+0.072%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0527%	1h	1.5220	−0.049%	$3K	$16K	10x	as long as short