Funding arb · Price arb /

XRP

all XRP markets

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 +0.020%

Price spread now: Bybit against GRVT−0.124%90s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.293% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 7 days+0.104%+$10 · spread now −0.124%, 7d avg −0.019%

Together, before fees+0.053%+ Points / potential airdropGRVT: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.105% cheaper against GRVT than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 90 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	GRVT XRP_USDT_Perp	1.5336	0.0100	pay 0.0100% / 8h	7h 40m	$1.1M	$39.1M	20x
Short	Bybit XRPUSDT	1.5317	0.0100	get 0.0100% / 8h	7h 40m	$341.1M	$924.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0
Price spread: −0.124% → −0.019%: −$10.5
Slippage, 4 orders: −$9.3
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.8
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bybit: live order book, 4 min ago.

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 GRVT live order book, 4 min ago	0.33 bp	12.1 bp −$12	24.0 bp −$240	67.9 bp −$6,792	doesn't fit
Sell Bybit live order book, 4 min ago	0.33 bp	5.8 bp −$6	7.5 bp −$75	13.2 bp −$1,315	26.8 bp −$13.4K

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	1.5313	−0.150%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5317	−0.125%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5320	−0.104%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0011% / S +0.0083%	1h	1.5319	−0.109%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.461%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5324	−0.078%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5324	−0.078%	$9.3M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5324	−0.076%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5328	−0.052%	$512K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5318	−0.117%	$11K	$277K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5332	−0.029%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5324	−0.075%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5324	−0.078%	$38.8M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5321	−0.097%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5318	−0.119%	$539.1M	$2.06B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5317	−0.124%	$341.1M	$924.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5314	−0.143%	$124.8M	$872.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5275	−0.398%	$570K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5328	−0.052%	$118K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5306	−0.199%	$1.6M	$562K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5321	−0.098%	$373.1M	$149.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5315	−0.137%	$304.8M	$899.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5320	−0.102%	$108.6M	$166.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5314	−0.143%	$267.7M	$376.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5318	−0.117%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5316	−0.130%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5318	−0.119%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5336	long leg	$1.1M	$39.1M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5294	−0.274%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5319	−0.109%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5327	−0.059%	$48K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5322	−0.089%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5325	−0.072%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5329	−0.047%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5323	−0.085%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5325	−0.074%	$50.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5323	−0.085%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5310	−0.167%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5322	−0.091%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5321	−0.098%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5322	−0.089%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−0.085%	$24.1M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5331	−0.033%	$5.8M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5321	−0.096%	$14.5M	$70.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0273%	1h	1.5331	−0.033%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5334	−0.013%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5323	−0.085%	$2.0M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0404%	1h	1.5336	0.000%	$289.6M	$217.0M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.091%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0777%	1h	1.5328	−0.052%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5328	−0.052%	$506K	$755K	10x	as long as short