Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.054%

Price spread now: Hibachi against GRVT−0.250%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · Hibachi: Active · farm boardneeds both histories

Funding pays, the price is against you. Hibachi is 0.250% cheaper against GRVT than usual: you would sell low and buy high (spread −0.250% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 5.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XRP_USDT_Perp	1.5403	0.0100	pay 0.0100% / 8h	22m 42s	$1.1M	$40.4M	20x
Short	Hibachi XRP/USDT-P	1.5364	0.0264	get 0.0033% / 1h	22m 42s	$17K	$82K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.250%Rate

Funding earned: $34.44
Price spread: −0.250% → 0.000%: −$24.98
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$8.54
Costs to cover: 0.180%
Break-even: 8.7 days

Slippage unknown: GRVT: live order book, 1 min ago; Hibachi: no order-book sample. 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 GRVT live order book, 1 min ago	0.33 bp	6.2 bp −$6	14.9 bp −$149	58.3 bp −$5,833	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: 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	1.5361	−0.272%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−0.247%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	−0.149%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	−0.269%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5360	−0.278%	$830K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5367	−0.233%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5365	−0.249%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5367	−0.233%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.020%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5368	−0.226%	$2.9M	$13.0M	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	1.5362	−0.265%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5356	−0.305%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5363	−0.257%	$39.1M	$81.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5370	−0.212%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5369	−0.220%	$547.3M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5370	−0.213%	$341.8M	$924.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5371	−0.207%	$125.3M	$879.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.376%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	−0.252%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.046%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5362	−0.265%	$361.3M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5371	−0.207%	$293.2M	$885.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5366	−0.238%	$110.2M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5357	−0.298%	$267.4M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5362	−0.265%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	−0.118%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	−0.233%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5403	long leg	$1.1M	$40.4M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.298%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5363	−0.261%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5365	−0.246%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.251%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	−0.239%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	−0.221%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	−0.246%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	−0.237%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5366	−0.239%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	−0.206%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5363	−0.259%	$12K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−0.267%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.254%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5363	−0.259%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5363	−0.256%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	−0.233%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5372	−0.200%	$5.8M	$47.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0257%	1h	1.5372	−0.200%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-Pshort	+0.0264%	1h	1.5364	−0.250%	$17K	$82K	7x
Kalshi KXXRPPERP	+0.0306%	8h	1.5370	−0.213%	$2.0M	$34.4M	2.9x	as long as short
Hyperliquid XRP	+0.0589%	1h	1.5379	−0.155%	$292.5M	$212.5M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5370	−0.212%	$500K	$637K	10x	as long as short
Aftermath Perps XRPUSD	+0.0787%	1h	1.5398	−0.034%	$1K	$11K	10x	as long as short