Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.060%

Price spread now: Pacifica against GMX−0.003%7-day average −0.006% · you buy dearer than you sell

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

Long on GMX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.187%+$19 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.003%, 7d avg −0.006%

Together, before fees+0.164%+ Points / potential airdropPacifica: Active · farm board+$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5250	L +0.0100% / S −0.0058%	pay 0.0012% / 1h	42m 09s	$787K	—	200x
Short	Pacifica XRP	1.5249	0.0100	get 0.0013% / 1h	42m 09s	$615K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.003%Rate

Funding earned: $0.07
Price spread: −0.003% → −0.006%: $0.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$19.63
Costs to cover: 0.200%
Break-even: 1905.8 days

Slippage unknown: GMX: no order-book sample; Pacifica: live order book, 2 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 Pacifica live order book, 2 min ago	0.66 bp	4.7 bp −$5	doesn't fit	doesn't fit	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	1.5241	−0.056%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5242	−0.048%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5248	−0.009%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5252	+0.016%	$7.9M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.036%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5244	−0.038%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5247	−0.014%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5246	−0.023%	$602K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5239	−0.069%	$10K	$372K	20x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0100% / S −0.0058%	1h	1.5250	long leg	$787K	—	200x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5242	−0.046%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5247	−0.016%	$38.7M	$87.0M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5249	−0.003%	$615K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5242	−0.048%	$533.9M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5237	−0.082%	$350.9M	$957.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5240	−0.062%	$128.5M	$877.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5226	−0.154%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5253	+0.023%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.387%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5243	−0.043%	$380.0M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5240	−0.062%	$315.5M	$920.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5239	−0.067%	$107.4M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	−0.102%	$269.4M	$392.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5241	−0.056%	—	$107.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5239	−0.072%	$4.9M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5231	−0.124%	$662K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.014%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.003%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5251	+0.007%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5255	+0.036%	$50K	$511K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5249	−0.002%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5247	−0.016%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5233	−0.111%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5258	+0.058%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.043%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5256	+0.040%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5248	−0.010%	$54.5M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5250	+0.004%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5242	−0.046%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5247	−0.016%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5248	−0.010%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5234	−0.103%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0160%	1h	1.5250	+0.003%	$290.9M	$268.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5251	+0.010%	$5.7M	$48.5M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5252	+0.016%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0204%	8h	1.5237	−0.082%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5249	−0.003%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5227	−0.148%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5256	+0.046%	$529K	$804K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.069%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0645%	1h	1.5235	−0.094%	$2K	$16K	10x	as long as short