Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.034%

Price spread now: GRVT against Hotstuff+0.189%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 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 · GRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GRVT is 0.189% dearer against Hotstuff than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5156	−0.0080	get 0.0010% / 1h	49m 24s	$5K	$2K	20x
Short	GRVT XRP_USDT_Perp	1.5185	0.0100	get 0.0100% / 8h	6h 49m	$1.1M	$38.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.189%Rate

Funding earned: $37.8
Price spread: +0.189% → 0.000%: $18.89
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $42.69
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; GRVT: live order book, 5 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 GRVT live order book, 5 min ago	0.33 bp	4.8 bp −$5	5.8 bp −$58	60.7 bp −$6,072	doesn't fit

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	1.5156	long leg	$5K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5180	+0.159%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.224%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	+0.165%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0066%	1h	1.5178	+0.148%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.666%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5183	+0.180%	$14.8M	$72.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0067%	8h	1.5184	+0.185%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5190	+0.224%	$9.1M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5187	+0.201%	$2.8M	$14.0M	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	1.5190	+0.224%	$519K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5188	+0.211%	$12K	$300K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5193	+0.243%	$885K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5195	+0.254%	$38.5M	$84.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5192	+0.237%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5185	+0.190%	$536.8M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5183	+0.178%	$337.5M	$936.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5185	+0.191%	$123.1M	$870.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	+0.106%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5196	+0.264%	$116K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.310%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5183	+0.178%	$368.3M	$149.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5183	+0.178%	$293.1M	$896.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5192	+0.240%	$109.4M	$170.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5191	+0.231%	$265.1M	$383.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5185	+0.191%	—	$126.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	+0.074%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5148	−0.050%	$658K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5185	+0.189%	$1.1M	$38.3M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	+0.079%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5185	+0.192%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5192	+0.238%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5184	+0.183%	$41K	$70K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5190	+0.227%	$818K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5187	+0.204%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5188	+0.211%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5197	+0.268%	$49.8M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5187	+0.205%	$53.9M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5181	+0.162%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5192	+0.237%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5188	+0.208%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5196	+0.264%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0178%	1h	1.5198	+0.277%	$281.1M	$222.7M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5179	+0.154%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5189	+0.218%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5174	+0.119%	$24.0M	$75.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0327%	8h	1.5189	+0.218%	$1.9M	$35.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0336%	1h	1.5184	+0.184%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0409%	1h	1.5200	+0.290%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5198	+0.275%	$538K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0802%	1h	1.5186	+0.200%	$2K	$14K	10x	as long as short