Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.065%

Price spread now: SunX against GMX+0.021%7-day average 0.000% · you sell dearer than you buy

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

Long on GMX Short on SunX

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)−0.140%−$14 · spread now +0.021%, 7d avg 0.000%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SunX is 0.021% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5159	L +0.0076% / S −0.0022%	pay 0.0010% / 1h	57m 48s	$800K	—	200x
Short	SunX XRP-USDT	1.5162	0.0100	get 0.0100% / 8h	1h 57m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $4.99
Price spread: +0.021% → 0.000%: $2.09
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$12.91
Costs to cover: 0.200%
Break-even: 25.1 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	16.29 bp	27.6 bp −$28	35.5 bp −$355	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	1.5158	−0.006%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5163	+0.024%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.007%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5158	−0.004%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5153	−0.036%	$14.5M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.645%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0076% / S −0.0022%	1h	1.5159	long leg	$800K	—	200x
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5160	+0.007%	$7.7M	$25.3M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5172	+0.086%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5167	+0.051%	$2.8M	$15.0M	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	1.5165	+0.040%	$549K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5162	+0.020%	$11K	$363K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5160	+0.010%	$998K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5167	+0.050%	$38.5M	$87.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5169	+0.066%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5165	+0.040%	$527.6M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5168	+0.060%	$344.9M	$966.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5172	+0.086%	$126.9M	$892.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	−0.178%	$564K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5175	+0.106%	$143K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5166	+0.046%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5168	+0.060%	$375.2M	$157.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5168	+0.060%	$298.3M	$915.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	+0.044%	$107.4M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5164	+0.033%	$266.8M	$399.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5167	+0.053%	—	$106.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	−0.028%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5159	+0.002%	$658K	$114.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5156	−0.021%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5165	+0.040%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5163	+0.029%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5173	+0.092%	$47K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5162	+0.018%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5157	−0.013%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5159	−0.003%	$816K	$73K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5162	+0.021%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5157	−0.013%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5155	−0.028%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5161	+0.013%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5172	+0.086%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5159	+0.001%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5157	−0.011%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5137	−0.146%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5161	+0.013%	$5.7M	$48.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0209%	8h	1.5168	+0.060%	$1.7M	$35.4M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5162	+0.021%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	−0.138%	$23.3M	$77.5M	125x	as long as short
Hyperliquid XRP	+0.0228%	1h	1.5180	+0.139%	$289.7M	$264.5M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0235%	1h	1.5167	+0.053%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5175	+0.106%	$518K	$792K	10x	as long as short
Aftermath Perps XRPUSD	+0.0575%	1h	1.5161	+0.012%	$2K	$16K	10x	as long as short