Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: MEXC against dYdX−0.073%47s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.486% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.073%, 7d avg +0.001%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.074% cheaper against dYdX than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of +0.001%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day). The two prices were read 47 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	dYdX XRP-USD	1.5325	0	get 0.0000% / 1h	33m 53s	$1.1M	$112K	10x
Short	MEXC XRP_USDT	1.5314	0.0100	get 0.0100% / 8h	7h 33m	$307.7M	$902.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.073%Rate

Funding earned: $21
Price spread: −0.073% → +0.001%: −$7.37
Slippage, 4 orders: −$38.63
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$35
Costs to cover: 0.486%
Break-even: 18.7 days

Slippage from dYdX: live order book, just now; MEXC: live order book, 5 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, just now	17.63 bp	25.3 bp −$25	58.6 bp −$586	75.8 bp −$7,583	211.4 bp −$105.7K
Sell MEXC live order book, 5 min ago	0.33 bp	0.3 bp $0	0.6 bp −$6	5.2 bp −$522	18.7 bp −$9,369

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	1.5329	+0.025%	$7K	$2K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5325	long leg	$1.1M	$112K	10x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5321	−0.026%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5324	−0.008%	$9.3M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0013% / S +0.0081%	1h	1.5321	−0.029%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.532%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5325	−0.001%	$58K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5325	−0.003%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5328	+0.018%	$514K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5331	+0.038%	$10K	$279K	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	1.5324	−0.007%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5330	+0.035%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5319	−0.040%	$38.7M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5329	+0.025%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5315	−0.066%	$539.3M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5321	−0.027%	$341.3M	$921.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5321	−0.027%	$124.7M	$869.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.060%	$571K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5333	+0.051%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.191%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5313	−0.080%	$373.6M	$149.5M	100x	as long as short
MEXC XRP_USDTshort	+0.0100%	8h	1.5314	−0.073%	$307.7M	$902.2M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5312	−0.085%	$108.6M	$165.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5312	−0.086%	$267.8M	$374.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5319	−0.040%	—	$123.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	+0.019%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5307	−0.116%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5296	−0.190%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5333	+0.051%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5323	−0.014%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5331	+0.038%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5326	+0.004%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5327	+0.011%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5333	+0.050%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5323	−0.014%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5320	−0.031%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5326	+0.005%	$54.5M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5309	−0.103%	$2.1M	$7.1M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5333	+0.051%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5322	−0.021%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5323	−0.012%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5311	−0.093%	$23.9M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5333	+0.051%	$5.8M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5322	−0.018%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0285%	1h	1.5331	+0.038%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5334	+0.057%	$2.1M	$35.1M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5333	+0.053%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0401%	1h	1.5332	+0.044%	$289.5M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.162%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0802%	1h	1.5330	+0.028%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5338	+0.082%	$507K	$754K	10x	as long as short