Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Derive+0.060%124s7-day average −0.038% · you sell dearer than you buy

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

Long on Derive Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.060%, 7d avg −0.038%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.098% dearer against Derive than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.038%. The two prices were read 124 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5225	0.0100	pay 0.0013% / 1h	46m 43s	$819K	$76K	10x
Short	HTX XRP-USDT	1.5234	0.0100	get 0.0100% / 8h	7h 46m	$49.7M	$15.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Derive. 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 DerivebpFee HTXbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.038%: $9.76
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$8.24
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; HTX: live order book, 2 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell HTX live order book, 2 min ago	0.03 bp	9.3 bp −$9	11.8 bp −$118	30.6 bp −$3,055	doesn't fit

Derive: 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	1.5228	+0.018%	$14.8M	$76.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5241	+0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5226	+0.008%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5240	+0.098%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5228	+0.020%	$7.7M	$23.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	+0.003%	$247K	—	150x	as long as short
Phemex XRPUSDT	+0.0007%	8h	1.5228	+0.020%	$54.4M	$32.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.200%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5224	−0.006%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5228	+0.021%	$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	1.5232	+0.046%	$619K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5229	+0.026%	$20K	$382K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5233	+0.056%	$998K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5229	+0.026%	$38.6M	$85.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5229	+0.028%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5227	+0.013%	$530.8M	$2.20B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5224	−0.007%	$352.2M	$945.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5225	0.000%	$127.1M	$859.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5228	+0.020%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5239	+0.092%	$144K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5227	+0.016%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5218	−0.046%	$379.3M	$151.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5228	+0.020%	$313.8M	$912.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5220	−0.032%	$106.7M	$183.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5222	−0.020%	$269.9M	$384.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5219	−0.040%	—	$108.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	+0.006%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5221	−0.029%	$661K	$113.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5230	+0.033%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5228	+0.020%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5234	+0.061%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5232	+0.046%	$52K	$513K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5228	+0.018%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5226	+0.006%	$78K	$667K	50x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5225	long leg	$819K	$76K	10x
SunX XRP-USDT	+0.0100%	8h	1.5237	+0.081%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5225	0.000%	$28K	$1.5M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5234	+0.060%	$49.7M	$15.2M	75x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5234	+0.059%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5214	−0.075%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5223	−0.012%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0115% / S −0.0078%	1h	1.5222	−0.021%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5236	+0.072%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5227	+0.013%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0174%	8h	1.5236	+0.072%	$1.7M	$33.4M	2.9x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5234	+0.059%	$291.0M	$267.8M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5225	0.000%	$23.7M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5221	−0.025%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0270%	1h	1.5236	+0.072%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5239	+0.091%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0527%	1h	1.5220	−0.030%	$3K	$16K	10x	as long as short