Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.130%

Price spread now: BloFin against GMX−0.037%51s7-day average −0.020% · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.271%+$27 on $10k

Price spread, last 3 days (all we have)−0.291%−$29 · spread now −0.037%, 7d avg −0.020%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 51 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	GMX XRP/USD [ETH-USDC]	1.5433	L +0.0075% / S +0.0173%	pay 0.0009% / 1h	11m 44s	$909K	—	200x
Short	BloFin XRP-USDT	1.5427	0.0220	get 0.0220% / 8h	2h 11m	$24.1M	$68.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.037%Rate

Funding earned: $30.55
Price spread: −0.037% → −0.020%: −$1.73
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $4.82
Costs to cover: 0.240%
Break-even: 5.9 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 7 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 BloFin live order book, 7 min ago	2.27 bp	8.3 bp −$8	9.0 bp −$90	14.1 bp −$1,405	25.7 bp −$12.9K

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	1.5437	+0.028%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5450	+0.109%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5470	+0.241%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5442	+0.060%	$9.4M	$24.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5434	+0.006%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.925%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5438	+0.034%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0075% / S +0.0173%	1h	1.5433	long leg	$909K	—	200x
Lighter XRP	+0.0096%	1h	1.5440	+0.048%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5441	+0.054%	$446K	$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	1.5448	+0.096%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5441	+0.052%	$39.4M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5449	+0.104%	$671K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5442	+0.058%	$555.5M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5444	+0.073%	$348.0M	$850.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5443	+0.067%	$126.1M	$847.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	−0.037%	$574K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5441	+0.054%	$119K	$685K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5439	+0.041%	$368.8M	$133.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5440	+0.047%	$291.0M	$818.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5440	+0.046%	$111.9M	$148.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5444	+0.073%	$267.5M	$346.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5439	+0.041%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5430	−0.019%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.199%	$671K	$97.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5413	−0.128%	$1.1M	$41.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5464	+0.203%	$1.0M	$871K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5437	+0.026%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5438	+0.034%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5434	+0.007%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5437	+0.026%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5441	+0.052%	$130K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5437	+0.028%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5436	+0.022%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5435	+0.015%	$55.1M	$28.4M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5438	+0.032%	$1.7M	$399K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5440	+0.045%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5437	+0.028%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5439	+0.043%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5438	+0.033%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5443	+0.067%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5438	+0.034%	$15.7M	$65.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5459	+0.170%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5450	+0.112%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5435	+0.011%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5427	−0.037%	$24.1M	$68.4M	125x
Kalshi KXXRPPERP	+0.0277%	8h	1.5449	+0.105%	$1.8M	$31.9M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5444	+0.072%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5444	+0.074%	$406K	$498K	10x	as long as short
Hyperliquid XRP	+0.0504%	1h	1.5468	+0.229%	$285.0M	$190.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0533%	1h	1.5440	+0.048%	$1K	$11K	10x	as long as short