Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)+0.113%7-day average +0.023% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$309as in the Price arb table

costs, in and out, $10k−$3183.181% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now +0.113%, 7d avg +0.023%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.090% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XRP/USD	1.5154	L +0.0003% / S −0.0004%	pay 0.0000% / 1h	19m 23s	$253K	—	150x
Short	SunX XRP-USDT	1.5171	0.0100	get 0.0100% / 8h	4h 19m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.113%Rate

Funding earned: $20.3
Price spread: +0.113% → +0.023%: $9.01
Slippage, 4 orders: −$300.1
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$288.78
Costs to cover: 3.181%
Break-even: 106.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 40 min ago; SunX: live order book, 6 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), 40 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 SunX live order book, 6 min ago	15.30 bp	28.7 bp −$29	35.8 bp −$358	doesn't fit	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	1.5165	+0.071%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5151	−0.022%	$14.3M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5161	+0.048%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.236%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5157	+0.018%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USDlong	L +0.0003% / S −0.0004%	1h	1.5154	long leg	$253K	—	150x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.678%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0044% / S +0.0024%	1h	1.5155	+0.003%	$790K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0087%	8h	1.5155	+0.005%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5162	+0.054%	$2.8M	$14.6M	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	1.5162	+0.051%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5162	+0.051%	$11K	$326K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5160	+0.042%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5173	+0.124%	$280.7M	$227.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5163	+0.059%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5161	+0.045%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5158	+0.022%	$534.9M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5156	+0.012%	$347.3M	$934.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5158	+0.025%	$126.1M	$874.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5176	+0.144%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5170	+0.104%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.131%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5160	+0.038%	$369.5M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5158	+0.025%	$291.0M	$901.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	+0.059%	$108.2M	$174.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5155	+0.005%	$268.2M	$384.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5158	+0.025%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	+0.082%	$5.1M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5172	+0.117%	$659K	$108.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5174	+0.131%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	+0.098%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5160	+0.038%	$44K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5158	+0.026%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5156	+0.010%	$815K	$72K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5171	+0.113%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5154	−0.001%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5153	−0.007%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5152	−0.015%	$54.0M	$30.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5160	+0.040%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5163	+0.059%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5150	−0.025%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5170	+0.104%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5153	−0.007%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0181%	1h	1.5173	+0.124%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5160	+0.038%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5169	+0.098%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5155	+0.005%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5169	+0.098%	$24.1M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5180	+0.170%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5171	+0.110%	$517K	$775K	10x	as long as short
Aftermath Perps XRPUSD	+0.0660%	1h	1.5171	+0.111%	$2K	$15K	10x	as long as short