Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.009%

Price spread now: GRVT against gTrade (Gains Network)−0.011%52s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$2852.853% of the position

Long on gTrade (Gains Network)Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.067%+$7 on $10k

Price spread, last 3 days (all we have)−0.219%−$22 · spread now −0.011%, 7d avg −0.008%

Together, before fees−0.151%+ Points / potential airdropGRVT: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 52 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	gTrade (Gains Network) XRP/USD	1.5473	L +0.0003% / S −0.0004%	pay 0.0000% / 1h	9m 31s	$259K	—	150x
Short	GRVT XRP_USDT_Perp	1.5471	0.0100	get 0.0100% / 8h	2h 09m	$1.1M	$41.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GRVTbpOrdersPrice spread, now −0.011%Rate

Funding earned: $20.31
Price spread: −0.011% → −0.008%: −$0.3
Slippage, 4 orders: −$266.35
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$265.34
Costs to cover: 2.853%
Break-even: 98.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 15 min ago; GRVT: 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 gTrade (Gains Network) virtual book (oracle venue), 15 min ago	130.03 bp	135.0 bp −$135	208.0 bp −$2,080	1906.1 bp −$190.6K	9819.7 bp −$4.91M
Sell GRVT live order book, 5 min ago	0.32 bp	8.1 bp −$8	22.9 bp −$229	67.0 bp −$6,700	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5477	+0.026%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5451	−0.144%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	−0.149%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USDlong	L +0.0003% / S −0.0004%	1h	1.5473	long leg	$259K	—	150x
Deribit XRP_USDC-PERPETUAL	+0.0009%	1h	1.5473	0.000%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.183%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5475	+0.013%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0170%	1h	1.5473	−0.003%	$911K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5446	−0.177%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5450	−0.149%	$447K	$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	1.5442	−0.197%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5447	−0.168%	$39.3M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5447	−0.168%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5442	−0.200%	$555.6M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5439	−0.220%	$347.9M	$851.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5438	−0.226%	$126.4M	$847.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	−0.297%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5449	−0.155%	$120K	$686K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	−0.009%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5441	−0.207%	$368.7M	$133.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5437	−0.233%	$291.8M	$820.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5444	−0.187%	$112.1M	$149.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5437	−0.233%	$267.5M	$346.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5446	−0.174%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.091%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	−0.060%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5471	−0.011%	$1.1M	$41.5M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.103%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5442	−0.200%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5445	−0.181%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5435	−0.246%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5437	−0.234%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5478	+0.036%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5466	−0.045%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5474	+0.010%	$50.9M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5463	−0.065%	$55.2M	$28.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5443	−0.191%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5443	−0.194%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5440	−0.212%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5470	−0.023%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5450	−0.149%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0168%	1h	1.5467	−0.036%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5479	+0.039%	$5.6M	$45.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0203%	1h	1.5467	−0.039%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5436	−0.242%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5480	+0.045%	$24.2M	$68.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0284%	8h	1.5490	+0.110%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.052%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5453	−0.127%	$406K	$499K	10x	as long as short
Hyperliquid XRP	+0.0507%	1h	1.5455	−0.116%	$284.9M	$190.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5450	−0.151%	$1K	$11K	10x	as long as short