Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.088%

Price spread now: BingX against GMX+0.039%7-day average −0.027% · you sell dearer than you buy

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.179%+$18 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.039%, 7d avg −0.027%

Together, before fees+0.098%+$10 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 BingX is 0.067% dearer against GMX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5343	L +0.0008% / S +0.0089%	pay 0.0001% / 1h	57m 43s	$841K	—	200x
Short	BingX XRP-USDT	1.5349	0.0100	get 0.0100% / 8h	7h 57m	—	$123.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $19.37
Price spread: +0.039% → −0.027%: $6.69
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $4.06
Costs to cover: 0.220%
Break-even: 5.5 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 16 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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 16 min ago	0.65 bp	5.7 bp −$6	5.7 bp −$57	7.6 bp −$764	14.9 bp −$7,465

GMX: 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	1.5343	0.000%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5345	+0.015%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	+0.046%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5344	+0.009%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0008% / S +0.0089%	1h	1.5343	long leg	$841K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.415%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5342	−0.006%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5347	+0.026%	$9.3M	$25.7M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5346	+0.020%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	+0.069%	$2.9M	$13.6M	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	1.5360	+0.111%	$513K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5344	+0.007%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5338	−0.029%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5353	+0.066%	$38.9M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5356	+0.085%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5355	+0.079%	$540.5M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5357	+0.092%	$340.2M	$932.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5359	+0.105%	$125.7M	$885.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	−0.150%	$571K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5346	+0.020%	$116K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.039%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5349	+0.039%	$372.6M	$147.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5355	+0.079%	$302.1M	$888.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5355	+0.079%	$109.7M	$167.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5355	+0.079%	$269.3M	$378.3M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5349	+0.039%	—	$123.0M	—
Variational Omni XRP	+0.0100%	8h	1.5346	+0.023%	$6.4M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5347	+0.023%	$666K	$106.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5369	+0.170%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5352	+0.059%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5341	−0.013%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5342	−0.006%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5342	−0.006%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5344	+0.008%	$826K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5347	+0.025%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5344	+0.007%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5341	−0.009%	$50.3M	$15.7M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5359	+0.107%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5347	+0.024%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5343	+0.003%	$55K	$18K	3x	as long as short
Phemex XRPUSDT	+0.0188%	8h	1.5351	+0.052%	$54.7M	$29.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5338	−0.035%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5351	+0.052%	$24.0M	$75.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5350	+0.046%	$5.8M	$46.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0243%	1h	1.5356	+0.085%	$1.7M	$1.2M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5343	+0.002%	$14.9M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5367	+0.155%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5350	+0.046%	$2.2M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0547%	1h	1.5370	+0.176%	$291.1M	$216.7M	20x	as long as short
Aftermath Perps XRPUSD	+0.0784%	1h	1.5353	+0.068%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5349	+0.038%	$512K	$753K	10x	as long as short