Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: GRVT against dYdX−0.110%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.216%+$22 on $10k

Price spread, last 7 days+0.195%+$19 · spread now −0.110%, 7d avg +0.014%

Together, before fees+0.411%+ Points / potential airdropGRVT: Active · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.124% cheaper against dYdX than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of +0.014%). If the spread goes back, that is −$12 on $10k: about 4.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5391	0	get 0.0000% / 1h	20m 49s	$1.1M	$155K	10x
Short	GRVT XRP_USDT_Perp	1.5374	0.0100	get 0.0100% / 8h	6h 20m	$1.1M	$31.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. 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 dYdXbpFee GRVTbpOrdersPrice spread, now −0.110%Rate

Funding earned: $21
Price spread: −0.110% → +0.014%: −$12.39
Slippage, 4 orders: −$61.38
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$71.77
Costs to cover: 0.804%
Break-even: 30.9 days

Slippage from dYdX: live order book, 6 min ago; GRVT: live order book, 1 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 dYdX live order book, 6 min ago	30.14 bp	35.1 bp −$35	35.1 bp −$351	69.7 bp −$6,970	192.3 bp −$96.2K
Sell GRVT live order book, 1 min ago	0.32 bp	5.3 bp −$5	16.0 bp −$160	61.0 bp −$6,104	doesn't fit

XRP on 50 exchanges

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	1.5371	−0.129%	$5K	$4K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5391	long leg	$1.1M	$155K	10x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5383	−0.051%	$7.9M	$21.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5377	−0.087%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5383	−0.051%	$14.1M	$72.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.099%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5399	+0.052%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5372	−0.126%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5377	−0.090%	$604K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5393	+0.015%	$17K	$77K	7x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0099%	8h	1.5388	−0.021%	$480K	$51K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5385	−0.038%	$10K	$397K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5395	+0.030%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5370	−0.136%	$39.6M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5394	+0.018%	$590K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5368	−0.149%	$536.3M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5372	−0.123%	$363.3M	$903.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5373	−0.116%	$124.6M	$848.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	−0.006%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5398	+0.046%	$165K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5429	+0.247%	$1.6M	$8K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5382	−0.058%	$379.8M	$160.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5381	−0.064%	$314.0M	$915.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5383	−0.053%	$107.1M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5373	−0.116%	$272.5M	$362.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5376	−0.097%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	−0.114%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	−0.052%	$668K	$110.8M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5374	−0.110%	$1.1M	$31.5M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5399	+0.052%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5391	−0.001%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5389	−0.012%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5377	−0.090%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5378	−0.084%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5395	+0.025%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5379	−0.077%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5384	−0.047%	$50.2M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5384	−0.045%	$54.9M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5378	−0.085%	$2.1M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5377	−0.088%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5385	−0.038%	$5.5M	$45.7M	50x	as long as short
Hyperliquid XRP	+0.0137%	1h	1.5388	−0.019%	$298.8M	$268.2M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0153% / S −0.0124%	1h	1.5377	−0.092%	$801K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0156%	8h	1.5397	+0.039%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0208%	1h	1.5395	+0.026%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5383	−0.051%	$23.9M	$79.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5392	+0.004%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5395	+0.029%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0461%	1h	1.5387	−0.023%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	+0.059%	$69K	$109K	15x	as long as short