Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against GRVT−0.037%110s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as 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−$520.517% of the position

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.216%−$22 on $10k

Price spread, last 7 days−0.068%−$7 · spread now −0.037%, 7d avg −0.015%

Together, before fees−0.284%+ Points / potential airdropGRVT: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.022% cheaper against GRVT than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.015%). Swap the legs. The two prices were read 110 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	1.5444	0.0100	pay 0.0100% / 8h	4h 09m	$1.1M	$32.4M	20x
Short	dYdX XRP-USD	1.5438	0	get 0.0000% / 1h	9m 46s	$1.1M	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$21
Price spread: −0.037% → −0.015%: −$2.18
Slippage, 4 orders: −$32.66
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$74.83
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; dYdX: live order book, 2 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, 2 min ago	0.32 bp	4.8 bp −$5	7.2 bp −$72	52.7 bp −$5,268	doesn't fit
Sell dYdX live order book, 2 min ago	12.95 bp	23.1 bp −$23	23.7 bp −$237	46.1 bp −$4,614	156.0 bp −$78.0K

XRP on 51 exchanges

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	1.5400	−0.284%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0076%	1h	1.5410	−0.217%	$13.7M	$67.2M	50x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5438	−0.037%	$1.1M	$154K	10x
Kalshi KXXRPPERP	0.0000%	8h	1.5428	−0.103%	$1.9M	$36.1M	2.9x	as long as short
Phoenix XRP	0.0000%	1h	1.5440	−0.025%	$72K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5412	−0.207%	$7.8M	$19.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5413	−0.202%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.752%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5418	−0.168%	$9K	$987	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5448	+0.023%	$2.8M	$13.8M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5447	+0.020%	$575K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5414	−0.194%	$5.5M	$40.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5446	+0.011%	$482K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5416	−0.181%	$11K	$435K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5430	−0.090%	$852K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5454	+0.065%	$301.0M	$261.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5442	−0.015%	$39.2M	$79.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5445	+0.009%	$595K	$934K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5446	+0.014%	$540.0M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5443	−0.006%	$367.3M	$841.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5441	−0.019%	$125.6M	$824.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5421	−0.148%	$568K	$44K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5424	−0.129%	$162K	$662K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.077%	$1.6M	$58K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5440	−0.025%	$375.2M	$160.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5441	−0.019%	$318.4M	$896.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5444	+0.002%	$105.6M	$180.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5447	+0.020%	$272.8M	$343.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5432	−0.077%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5420	−0.153%	$5.1M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5441	−0.017%	$671K	$103.4M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5444	long leg	$1.1M	$32.4M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5439	−0.032%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5424	−0.131%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5415	−0.187%	$51K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5413	−0.200%	$42K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5406	−0.246%	$83K	$570K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5408	−0.233%	$829K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5409	−0.227%	$129K	$1.4M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5408	−0.233%	$30K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5413	−0.203%	$50.2M	$12.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5411	−0.213%	$55.3M	$33.8M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5432	−0.077%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5404	−0.262%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5433	−0.073%	$17K	$67K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0182%	1h	1.5419	−0.161%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5427	−0.110%	$23.8M	$78.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5409	−0.223%	$1.4M	$2K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0290% / S −0.0247%	1h	1.5413	−0.198%	$1.2M	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5424	−0.131%	$509K	$684K	10x	as long as short
Aftermath Perps XRPUSD	+0.0421%	1h	1.5423	−0.135%	$3K	$13K	10x	as long as short