Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0103%/8h= +11.2% APRpaid last 24h +0.090%

Price spread now: Paradex against GMX−0.117%7-day average −0.015% · you buy dearer than you sell

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.178%+$18 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.117%, 7d avg −0.015%

Together, before fees+0.294%+ Points / potential airdropParadex: Active · farm board+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.102% cheaper against GMX than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of −0.015%). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5574	L −0.0003% / S +0.0117%	get 0.0000% / 1h	15m 39s	$852K	—	200x
Short	Paradex XRP-USD-PERP	1.5555	0.0100	get 0.0100% / 8h	1h 15m	$485K	$54K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.117%Rate

Funding earned: $21.56
Price spread: −0.117% → −0.015%: −$10.17
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.61
Costs to cover: 0.160%
Break-even: 8.5 days

Slippage unknown: GMX: no order-book sample; Paradex: 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 Paradex live order book, 3 min ago	4.50 bp	6.5 bp −$7	154.9 bp −$1,549	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	1.5559	−0.094%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]long	L −0.0003% / S +0.0117%	1h	1.5574	long leg	$852K	—	200x
dYdX XRP-USD	0.0000%	1h	1.5551	−0.146%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5569	−0.030%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5574	−0.001%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.088%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	−0.083%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5573	−0.004%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5559	−0.092%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5563	−0.068%	$441K	$3.2M	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	1.5587	+0.089%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5556	−0.115%	$39.5M	$78.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5560	−0.088%	$640K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5554	−0.127%	$559.6M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5554	−0.126%	$346.1M	$900.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5554	−0.126%	$127.5M	$881.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.126%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5560	−0.088%	$119K	$745K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	−0.045%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5555	−0.120%	$373.9M	$140.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5557	−0.107%	$299.1M	$860.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5557	−0.107%	$113.9M	$159.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5556	−0.113%	$271.7M	$364.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5555	−0.120%	—	$118.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5549	−0.161%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5570	−0.021%	$676K	$102.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5572	−0.013%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5555	−0.120%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5577	+0.024%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5587	+0.086%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	+0.015%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5576	+0.015%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5573	−0.006%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5566	−0.049%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	+0.054%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5563	−0.068%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5555	−0.117%	$485K	$54K	50x
Katana Perps XRP-USD	+0.0101%	8h	1.5557	−0.107%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5553	−0.131%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5573	−0.003%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5559	−0.094%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5581	+0.045%	$1.4M	$9K	15x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5558	−0.101%	$18K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5570	−0.024%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5567	−0.043%	$24.5M	$73.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5563	−0.068%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5592	+0.118%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5550	−0.152%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5564	−0.060%	$510K	$630K	10x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5577	+0.021%	$291.2M	$204.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5570	−0.024%	$1K	$11K	10x	as long as short