Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.058%

Price spread now: MEXC against GMX−0.170%103s7-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 MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.170%, 7d avg −0.020%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.150% cheaper against GMX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.020%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.184%, so the current rate has only just turned against you. The two prices were read 103 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]	1.5484	L +0.0143% / S −0.0109%	pay 0.0018% / 1h	59m 26s	$830K	—	200x
Short	MEXC XRP_USDT	1.5458	0.0100	get 0.0100% / 8h	6h 59m	$311.0M	$892.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$9.09
Price spread: −0.170% → −0.020%: −$15.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$36.1
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.32 bp	0.3 bp $0	0.3 bp −$3	1.9 bp −$186	15.9 bp −$7,938

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 50 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
Kraken Futures PF_XRPUSD	−0.0168%	1h	1.5480	−0.027%	$14.2M	$73.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5476	−0.053%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.037%	$70K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5481	−0.021%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	−0.037%	$251K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5474	−0.068%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.489%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5479	−0.037%	$18K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5458	−0.167%	$2.8M	$14.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5463	−0.137%	$613K	$3.0M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5464	−0.131%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5463	−0.135%	$482K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5463	−0.137%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5472	−0.078%	$39.2M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5462	−0.142%	$611K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5471	−0.086%	$539.8M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5473	−0.073%	$361.3M	$906.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5460	−0.157%	$125.2M	$849.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5451	−0.215%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5466	−0.118%	$168K	$704K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.336%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5464	−0.131%	$385.1M	$154.8M	100x	as long as short
MEXC XRP_USDTshort	+0.0100%	8h	1.5458	−0.170%	$311.0M	$892.4M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5469	−0.102%	$109.7M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5458	−0.170%	$274.0M	$360.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5464	−0.131%	—	$105.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5471	−0.088%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5486	+0.011%	$675K	$114.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	−0.005%	$1.1M	$32.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5492	+0.050%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5467	−0.111%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5472	−0.079%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5479	−0.036%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5479	−0.034%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5480	−0.026%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5477	−0.047%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5468	−0.104%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5479	−0.034%	$55.0M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5458	−0.169%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5476	−0.050%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5474	−0.066%	$9K	$2K	10x	as long as short
Hyperliquid XRP	+0.0133%	1h	1.5471	−0.086%	$298.6M	$266.4M	20x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0143% / S −0.0109%	1h	1.5484	long leg	$830K	—	200x
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5480	−0.028%	$5.3M	$46.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5491	+0.043%	$1.8M	$33.0M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5481	−0.021%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5454	−0.197%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0234%	1h	1.5486	+0.011%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5459	−0.160%	$521K	$795K	10x	as long as short
Aftermath Perps XRPUSD	+0.0478%	1h	1.5481	−0.019%	$3K	$15K	10x	as long as short