Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against GRVT+0.126%72s7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as 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−$180.175% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 7 days−0.153%−$15 · spread now +0.126%, 7d avg −0.051%

Together, before fees−0.139%+ Points / potential airdropGRVT: Active · Extended: Active · farm board−$14 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: Extended is 0.177% dearer against GRVT than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 72 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	1.5111	0.0100	pay 0.0100% / 8h	2h 56m	$1.1M	$37.1M	20x
Short	Extended XRP-USD	1.5130	0.0104	get 0.0013% / 1h	56m 16s	$2.0M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.126%Rate

Funding earned: $0.84
Price spread: +0.126% → −0.051%: $17.74
Slippage, 4 orders: −$3.54
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $1.04
Costs to cover: 0.175%
Break-even: from the start

Slippage from GRVT: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	0.33 bp	4.8 bp −$5	9.9 bp −$99	67.3 bp −$6,729	doesn't fit
Sell Extended live order book, 3 min ago	0.99 bp	3.8 bp −$4	6.4 bp −$64	doesn't fit	doesn't fit

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	1.5098	−0.089%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5137	+0.170%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5119	+0.052%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5139	+0.182%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	+0.190%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.968%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5137	+0.172%	$794K	—	200x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5130	+0.123%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5124	+0.081%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5123	+0.077%	$497K	$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
Katana Perps XRP-USD	+0.0099%	8h	1.5122	+0.070%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5130	+0.120%	$942K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5138	+0.179%	$290.2M	$257.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5136	+0.159%	$38.9M	$86.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5127	+0.104%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5140	+0.189%	$532.3M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5138	+0.176%	$342.7M	$950.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5138	+0.176%	$125.2M	$889.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5124	+0.083%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5133	+0.143%	$137K	$717K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5138	+0.176%	$373.1M	$154.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5131	+0.130%	$294.0M	$903.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	+0.094%	$108.1M	$179.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5136	+0.163%	$268.5M	$392.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5134	+0.149%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5110	−0.010%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.035%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5111	long leg	$1.1M	$37.1M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5112	+0.004%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5127	+0.105%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5129	+0.116%	$49K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5133	+0.142%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5137	+0.169%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	+0.160%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5129	+0.113%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5135	+0.156%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5140	+0.190%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	+0.229%	$53.9M	$31.7M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5107	−0.026%	$1.6M	$29K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5127	+0.102%	$472K	$55K	50x	as long as short
Extended XRP-USDshort	+0.0104%	1h	1.5130	+0.126%	$2.0M	$6.8M	50x
Aevo XRP-PERP	+0.0104%	1h	1.5133	+0.143%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5125	+0.090%	$1.8M	$35.5M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5145	+0.222%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5125	+0.091%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	+0.202%	$24.2M	$75.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5150	+0.257%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0265%	1h	1.5161	+0.328%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5132	+0.137%	$516K	$777K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	+0.123%	$67K	$109K	15x	as long as short
Aftermath Perps XRPUSD	+0.0629%	1h	1.5125	+0.087%	$2K	$15K	10x	as long as short