Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Bybit against Hotstuff−0.289%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Bybit is 0.289% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.289% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 5.4 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	Hotstuff XRP-PERP	1.5203	−0.0080	get 0.0010% / 1h	28m 09s	$5K	$3K	20x
Short	Bybit XRPUSDT	1.5159	0.0100	get 0.0100% / 8h	4h 28m	$344.9M	$932.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now −0.289%Rate

Funding earned: $37.8
Price spread: −0.289% → 0.000%: −$28.94
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.14
Costs to cover: 0.160%
Break-even: 8.3 days

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 1 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.33 bp	5.8 bp −$6	6.9 bp −$69	13.3 bp −$1,330	21.5 bp −$10.8K

Hotstuff: 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-PERPlong	−0.0080%	1h	1.5203	long leg	$5K	$3K	20x
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5155	−0.313%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	−0.171%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.217%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5157	−0.303%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5161	−0.276%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.348%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0042% / S +0.0027%	1h	1.5161	−0.277%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0083%	8h	1.5155	−0.316%	$62K	$934K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5178	−0.164%	$8K	$8K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5161	−0.276%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5161	−0.276%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5172	−0.204%	$10K	$325K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5179	−0.158%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5170	−0.217%	$281.5M	$225.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5175	−0.184%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5181	−0.147%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5159	−0.289%	$534.5M	$2.11B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5159	−0.289%	$344.9M	$932.2M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	−0.303%	$126.1M	$874.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5202	−0.007%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5179	−0.158%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5115	−0.576%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5159	−0.289%	$369.6M	$153.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5156	−0.309%	$290.2M	$900.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5158	−0.293%	$107.6M	$174.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5162	−0.270%	$268.3M	$384.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5157	−0.303%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5201	−0.014%	$5.2M	$37.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5199	−0.024%	$661K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5207	+0.026%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5166	−0.243%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5183	−0.135%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5179	−0.158%	$44K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5169	−0.221%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5155	−0.318%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5174	−0.189%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5155	−0.316%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5152	−0.332%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5156	−0.309%	$54.1M	$30.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5180	−0.150%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5151	−0.344%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5152	−0.335%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0168%	1h	1.5167	−0.237%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5201	−0.010%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5160	−0.283%	$5.6M	$47.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5180	−0.150%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5194	−0.059%	$24.2M	$76.3M	125x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5184	−0.125%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5180	−0.151%	$517K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0634%	1h	1.5183	−0.132%	$2K	$15K	10x	as long as short