Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: SunX against Hotstuff+0.035%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 SunX

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and SunX is 0.035% dearer against Hotstuff than usual: you sell high and buy low: +$4 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	1.5073	−0.0080	get 0.0010% / 1h	15m 57s	$5K	$3K	20x
Short	SunX XRP-USDT	1.5078	0.0100	get 0.0100% / 8h	2h 15m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $37.8
Price spread: +0.035% → 0.000%: $3.52
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: $28.32
Costs to cover: 0.130%
Break-even: 1.8 days

Slippage unknown: Hotstuff: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	14.27 bp	24.9 bp −$25	32.7 bp −$327	doesn't fit	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	1.5073	long leg	$5K	$3K	20x
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5071	−0.010%	$14.1M	$74.9M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5078	+0.036%	$1.1M	$133K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	+0.113%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5074	+0.007%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.231%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0071% / S −0.0015%	1h	1.5073	−0.003%	$795K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0082%	1h	1.5075	+0.013%	$7.7M	$25.5M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5084	+0.073%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5077	+0.024%	$2.8M	$15.0M	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	1.5077	+0.027%	$545K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5080	+0.046%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5080	+0.049%	$975K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5082	+0.060%	$38.3M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5083	+0.065%	$600K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5084	+0.073%	$524.6M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5088	+0.100%	$344.3M	$964.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5080	+0.046%	$126.0M	$883.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5044	−0.192%	$561K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5089	+0.106%	$144K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5026	−0.309%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5076	+0.020%	$370.4M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5084	+0.073%	$287.6M	$923.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5079	+0.037%	$106.3M	$180.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5080	+0.046%	$264.9M	$398.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5078	+0.033%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5046	−0.180%	$4.7M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5054	−0.124%	$654K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5083	+0.067%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5092	+0.126%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5085	+0.077%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5084	+0.073%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5076	+0.018%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5073	0.000%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5073	+0.002%	$811K	$72K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5078	+0.035%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5074	+0.007%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5081	+0.056%	$49.3M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5075	+0.013%	$53.8M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5090	+0.111%	$470K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5080	+0.043%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5071	−0.015%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0110%	1h	1.5089	+0.106%	$288.0M	$262.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5078	+0.033%	$5.7M	$48.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0192%	1h	1.5080	+0.049%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0192%	1h	1.5087	+0.093%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0196%	8h	1.5079	+0.040%	$1.7M	$35.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5076	+0.022%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5077	+0.027%	$23.1M	$77.0M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5088	+0.101%	$519K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0601%	1h	1.5063	−0.066%	$2K	$16K	10x	as long as short