Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.034%

Price spread now: SunX against Hibachi+0.195%7-day average — · you sell dearer than you buy

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

Long on Hibachi Short on SunX

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 airdropHibachi: Active · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.195% dearer against Hibachi than usual: you sell high and buy low (spread +0.195% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XRP/USDT-P	1.5511	0.0264	pay 0.0033% / 1h	4m 02s	$18K	$82K	7x
Short	SunX XRP-USDT	1.5542	0.0100	get 0.0100% / 8h	1h 04m	$130K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.195%Rate

Funding earned: −$34.44
Price spread: +0.195% → 0.000%: $19.45
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$31.99
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Hibachi: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	17.26 bp	27.1 bp −$27	34.2 bp −$342	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5539	+0.178%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5532	+0.131%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5541	+0.191%	$9.6M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0001% / S +0.0112%	1h	1.5539	+0.180%	$854K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5539	+0.179%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.313%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5538	+0.174%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5538	+0.171%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5540	+0.182%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5544	+0.210%	$444K	$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
Nado XRP-PERP	+0.0100%	1h	1.5537	+0.168%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5538	+0.174%	$39.5M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	+0.161%	$640K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5542	+0.197%	$559.2M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5543	+0.204%	$346.4M	$904.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5541	+0.191%	$127.8M	$883.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5500	−0.074%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	+0.158%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.065%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5537	+0.165%	$372.2M	$144.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5538	+0.171%	$300.9M	$869.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5536	+0.160%	$113.4M	$161.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5543	+0.204%	$271.3M	$366.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5536	+0.158%	—	$119.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5512	+0.006%	$11.5M	$30.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5481	−0.197%	$672K	$102.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	+0.011%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5496	−0.099%	$1.0M	$885K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5540	+0.184%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5539	+0.177%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5541	+0.191%	$837K	$81K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5542	+0.195%	$130K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5538	+0.171%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5540	+0.186%	$51.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5539	+0.178%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5530	+0.120%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	+0.123%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5533	+0.139%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5539	+0.181%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5537	+0.164%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5537	+0.165%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5538	+0.168%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5548	+0.236%	$6.0M	$47.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5516	+0.029%	$24.5M	$73.8M	125x	as long as short
Hibachi XRP/USDT-Plong	+0.0264%	1h	1.5511	long leg	$18K	$82K	7x
Backpack XRP_USDC_PERP	+0.0298%	1h	1.5547	+0.229%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5546	+0.223%	$2.0M	$33.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5520	+0.055%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5545	+0.218%	$509K	$630K	10x	as long as short
Hyperliquid XRP	+0.0581%	1h	1.5554	+0.274%	$291.9M	$205.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0775%	1h	1.5521	+0.059%	$1K	$11K	10x	as long as short