Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: SunX against Derive+0.068%7-day average +0.020% · you sell dearer than you buy

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

Long on Derive Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now +0.068%, 7d avg +0.020%

Together, before fees−0.011%−$1 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: SunX is 0.049% dearer against Derive than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5498	0.0100	pay 0.0013% / 1h	32m 17s	$834K	$79K	10x
Short	SunX XRP-USDT	1.5509	0.0100	get 0.0100% / 8h	1h 32m	$130K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → +0.020%: $4.86
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$9.14
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	17.60 bp	26.7 bp −$27	41.7 bp −$417	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5521	+0.146%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5517	+0.124%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5499	+0.005%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5498	+0.001%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.344%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5509	+0.070%	$15.6M	$68.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5496	−0.015%	$77K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0128%	1h	1.5498	−0.003%	$913K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5522	+0.153%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5523	+0.159%	$455K	$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	1.5498	+0.001%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5493	−0.037%	$39.2M	$77.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5522	+0.153%	$670K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5502	+0.023%	$558.2M	$1.96B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5496	−0.015%	$347.7M	$886.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5496	−0.015%	$127.2M	$871.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5515	+0.108%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5520	+0.140%	$117K	$736K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+1.192%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5501	+0.017%	$373.3M	$139.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5504	+0.037%	$291.1M	$842.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5504	+0.037%	$113.6M	$157.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5495	−0.021%	$270.1M	$359.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5497	−0.008%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.622%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5564	+0.421%	$677K	$100.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5554	+0.362%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5582	+0.540%	$1.0M	$881K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5495	−0.021%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5500	+0.011%	$42K	$65K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5498	long leg	$834K	$79K	10x
SunX XRP-USDTshort	+0.0100%	8h	1.5509	+0.068%	$130K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5500	+0.011%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5513	+0.097%	$51.0M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5520	+0.140%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5505	+0.045%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5521	+0.144%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5513	+0.095%	$12K	$250K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5493	−0.034%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5496	−0.015%	$72K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5528	+0.190%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5515	+0.108%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5497	−0.011%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5512	+0.088%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5518	+0.127%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0269%	1h	1.5526	+0.179%	$1.8M	$988K	25x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5542	+0.282%	$1.9M	$32.5M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5570	+0.463%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5522	+0.154%	$509K	$623K	10x	as long as short
Hyperliquid XRP	+0.0599%	1h	1.5511	+0.082%	$289.9M	$200.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0709%	1h	1.5580	+0.526%	$1K	$11K	10x	as long as short