Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0331%/8h= +36.2% APRpaid last 24h +0.120%

Price spread now: RISEx against GRVT+0.176%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on GRVT Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.306%+$31 on $10k

Price spread, last 4 days (all we have)−0.553%−$55 · spread now +0.176%, 7d avg +0.030%

Together, before fees−0.247%+ Points / potential airdropGRVT: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and RISEx is 0.146% dearer against GRVT than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XRP_USDT_Perp	1.5398	0.0100	pay 0.0100% / 8h	2h 03m	$1.1M	$41.5M	20x
Short	RISEx XRP/USDC	1.5425	0.0431	get 0.0054% / 1h	3m 22s	$405K	$498K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.176%Rate

Funding earned: $69.45
Price spread: +0.176% → +0.030%: $14.62
Slippage, 4 orders: −$15.49
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: $53.58
Costs to cover: 0.305%
Break-even: 1.6 days

Slippage from GRVT: live order book, 6 min ago; RISEx: live order book, 20 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, 6 min ago	0.32 bp	9.4 bp −$9	12.9 bp −$129	47.2 bp −$4,724	doesn't fit
Sell RISEx live order book, 20 min ago	3.44 bp	6.4 bp −$6	14.4 bp −$144	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	1.5415	+0.110%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5405	+0.043%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5410	+0.078%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5422	+0.158%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5397	−0.007%	$9.4M	$24.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.702%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.5426	+0.182%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0076% / S +0.0163%	1h	1.5422	+0.154%	$908K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5413	+0.099%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5415	+0.110%	$445K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5418	+0.133%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5415	+0.110%	$39.2M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5418	+0.128%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5425	+0.178%	$554.8M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5426	+0.182%	$347.1M	$853.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5423	+0.162%	$125.6M	$849.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5393	−0.033%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5422	+0.156%	$121K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.477%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5417	+0.123%	$367.8M	$134.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5416	+0.117%	$286.0M	$825.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5418	+0.129%	$112.2M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5425	+0.175%	$267.4M	$347.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5418	+0.130%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5410	+0.077%	$6.6M	$24.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5390	−0.049%	$669K	$96.1M	30x	as long as short
GRVT XRP_USDT_Perplong	+0.0100%	8h	1.5398	long leg	$1.1M	$41.5M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5386	−0.078%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5410	+0.079%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5421	+0.149%	$51K	$438K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5418	+0.130%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5424	+0.170%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5398	+0.001%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5393	−0.033%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5389	−0.059%	$50.6M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5393	−0.033%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5414	+0.106%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5422	+0.156%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5414	+0.103%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5425	+0.173%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5423	+0.162%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5393	−0.034%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5401	+0.019%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5401	+0.019%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5418	+0.129%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5396	−0.013%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5414	+0.104%	$1.8M	$31.9M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5398	+0.002%	$19K	$66K	7x	as long as short
RISEx XRP/USDCshort	+0.0431%	1h	1.5425	+0.176%	$405K	$498K	10x
Hyperliquid XRP	+0.0516%	1h	1.5433	+0.227%	$284.2M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0572%	1h	1.5424	+0.171%	$1K	$11K	10x	as long as short