Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.054%

Price spread now: edgeX against Hibachi−0.514%66s7-day average — · you buy dearer than you sell

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

Long on Hibachi Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.388%−$39 on $10k

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

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

Funding pays, the price is against you. edgeX is 0.514% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.514% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$51 on $10k: about 3 months of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.388%, so the current rate has only just turned in your favour. The two prices were read 66 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	Hibachi XRP/USDT-P	1.5262	0.0080	pay 0.0010% / 1h	22m 00s	$17K	$78K	7x
Short	edgeX XRPUSDC	1.5184	0.0100	get 0.0050% / 4h	3h 22m	$659K	$112.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hibachi. 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 HibachibpFee edgeXbpOrdersPrice spread, now −0.514%Rate

Funding earned: $4.2
Price spread: −0.514% → 0.000%: −$51.42
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$65.22
Costs to cover: 0.180%
Break-even: 115.7 days

Slippage unknown: Hibachi: no order-book sample; edgeX: live order book, 2 min ago. 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 Hibachi no order-book sample	—	—	—	—	—
Sell edgeX live order book, 2 min ago	0.98 bp	5.5 bp −$5	5.6 bp −$56	9.0 bp −$902	doesn't fit

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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5287	+0.163%	$14.8M	$74.1M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5280	+0.116%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.474%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5287	+0.162%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0008%	1h	1.5277	+0.099%	$1.1M	$158K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.950%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5297	+0.227%	$7.8M	$23.1M	50x	as long as short
Hibachi XRP/USDT-Plong	+0.0080%	1h	1.5262	long leg	$17K	$78K	7x
01 Exchange XRPUSD	+0.0088%	1h	1.5276	+0.090%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5286	+0.158%	$2.8M	$14.6M	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	1.5292	+0.194%	$621K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5270	+0.050%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5281	+0.126%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5289	+0.173%	$38.7M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5285	+0.150%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5288	+0.166%	$532.9M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5287	+0.162%	$357.1M	$931.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5285	+0.149%	$126.9M	$851.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.454%	$557K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5282	+0.129%	$144K	$703K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.792%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5287	+0.162%	$375.1M	$155.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5288	+0.168%	$316.3M	$922.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5289	+0.173%	$107.6M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5284	+0.142%	$270.1M	$376.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5284	+0.142%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	−0.706%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5184	−0.514%	$659K	$112.6M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	−0.423%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5177	−0.559%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5281	+0.126%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5276	+0.090%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5289	+0.178%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5290	+0.181%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.739%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5294	+0.206%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5291	+0.188%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5288	+0.165%	$49.9M	$14.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5289	+0.175%	$54.3M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5284	+0.144%	$477K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5283	+0.133%	$2.1M	$6.6M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5291	+0.186%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0122% / S −0.0091%	1h	1.5268	+0.038%	$781K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5293	+0.201%	$5.4M	$47.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5287	+0.162%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0180%	1h	1.5304	+0.273%	$292.7M	$263.8M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5303	+0.266%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5268	+0.037%	$23.9M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5280	+0.118%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5278	+0.102%	$523K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0543%	1h	1.5206	−0.367%	$2K	$16K	10x	as long as short