Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.103%

Price spread now: Hyperliquid against GRVT+0.073%105s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as 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−$210.207% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.073%, 7d avg +0.021%

Together, before fees+0.032%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.052% dearer against GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.021%. The two prices were read 105 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	1.5136	0.0100	pay 0.0100% / 8h	6h 07m	$1.1M	$36.9M	20x
Short	Hyperliquid XRP	1.5147	0.0167	get 0.0021% / 1h	7m 43s	$280.0M	$219.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.073%Rate

Funding earned: $14.09
Price spread: +0.073% → +0.021%: $5.2
Slippage, 4 orders: −$2.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.43
Costs to cover: 0.207%
Break-even: 7.7 days

Slippage from GRVT: live order book, 1 min ago; Hyperliquid: live order book, 6 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, 1 min ago	0.33 bp	6.1 bp −$6	16.0 bp −$160	55.6 bp −$5,559	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.33 bp	5.0 bp −$5	8.0 bp −$80	12.2 bp −$1,218	doesn't fit

XRP on 50 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	1.5140	+0.027%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5134	−0.014%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	+0.027%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5138	+0.016%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0054%	1h	1.5137	+0.007%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.802%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5131	−0.034%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0073%	8h	1.5143	+0.047%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5139	+0.019%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5141	+0.033%	$510K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5120	−0.105%	$10K	$299K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5117	−0.122%	$961K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5135	−0.003%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5135	−0.005%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5136	−0.001%	$537.3M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5129	−0.046%	$341.0M	$930.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5131	−0.033%	$124.3M	$867.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5119	−0.112%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5134	−0.013%	$115K	$696K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5125	−0.075%	$1.6M	$257K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5129	−0.046%	$367.5M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5129	−0.046%	$291.9M	$918.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5130	−0.037%	$106.8M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5128	−0.053%	$266.6M	$381.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5127	−0.059%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	−0.040%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5129	−0.045%	$657K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5136	long leg	$1.1M	$36.9M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5132	−0.026%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5126	−0.064%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5131	−0.033%	$44K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5143	+0.044%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	+0.060%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5123	−0.088%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5143	+0.047%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5138	+0.011%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5137	+0.007%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	−0.042%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5128	−0.052%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5141	+0.036%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5135	−0.006%	$8K	$8K	10x	as long as short
Hyperliquid XRPshort	+0.0167%	1h	1.5147	+0.073%	$280.0M	$219.1M	20x
Deribit XRP_USDC-PERPETUAL	+0.0212%	1h	1.5146	+0.066%	$7.6M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5131	−0.032%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5134	−0.013%	$5.7M	$46.5M	50x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5122	−0.094%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0329%	1h	1.5146	+0.066%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0360%	8h	1.5136	0.000%	$2.1M	$35.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5136	−0.002%	$529K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0762%	1h	1.5140	+0.024%	$2K	$14K	10x	as long as short