Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.080%

Price spread now: KuCoin against GMX−0.088%7-day average −0.018% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.174%+$17 on $10k

Price spread, last 3 days (all we have)+0.055%+$6 · spread now −0.088%, 7d avg −0.018%

Together, before fees+0.230%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.071% cheaper against GMX than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of −0.018%). If the spread goes back, that is −$7 on $10k: about 3.1 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.174% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5095	L +0.0023% / S +0.0064%	pay 0.0003% / 1h	40m 48s	$828K	—	200x
Short	KuCoin XRPUSDTM	1.5082	0.0100	get 0.0100% / 8h	6h 40m	$107.1M	$171.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.088%Rate

Funding earned: $16.09
Price spread: −0.088% → −0.018%: −$7.08
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.99
Costs to cover: 0.240%
Break-even: 13.5 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	0.10 bp	11.2 bp −$11	15.1 bp −$151	37.5 bp −$3,753	doesn't fit

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	1.5120	+0.163%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5052	−0.289%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	+0.097%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5094	−0.009%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0023% / S +0.0064%	1h	1.5095	long leg	$828K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.078%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5095	−0.002%	$14.5M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0069%	8h	1.5099	+0.024%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5095	−0.002%	$7.7M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5065	−0.198%	$2.8M	$14.1M	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	1.5056	−0.261%	$514K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5098	+0.018%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5100	+0.034%	$877K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5081	−0.094%	$38.4M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5060	−0.231%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5058	−0.248%	$533.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5067	−0.188%	$335.8M	$941.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5067	−0.188%	$123.4M	$868.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5121	+0.170%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5110	+0.097%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.580%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5074	−0.141%	$366.6M	$150.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5084	−0.075%	$289.5M	$901.8M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5082	−0.088%	$107.1M	$171.7M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5052	−0.287%	$264.0M	$385.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5070	−0.168%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5098	+0.019%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5152	+0.378%	$658K	$108.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	+0.361%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.448%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5108	+0.084%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5105	+0.064%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5102	+0.044%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5099	+0.024%	$813K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5108	+0.083%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5100	+0.031%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5092	−0.020%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5098	+0.018%	$53.6M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5099	+0.021%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5082	−0.090%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5093	−0.017%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5108	+0.084%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0167%	1h	1.5079	−0.108%	$278.8M	$224.2M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5100	+0.033%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5103	+0.051%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.647%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5104	+0.056%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0334%	1h	1.5104	+0.057%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5116	+0.137%	$2.1M	$36.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5110	+0.096%	$535K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0803%	1h	1.5145	+0.326%	$2K	$14K	10x	as long as short