Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against HTX+0.090%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on HTX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now +0.090%, 7d avg +0.064%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.027% dearer against HTX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5319	0.0100	pay 0.0100% / 8h	2m 31s	$50.3M	$15.6M	75x
Short	Bulk XRP-USD	1.5333	0.0100	get 0.0013% / 1h	2m 31s	$1.7M	$570K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against HTX. 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 HTXbpFee BulkbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.064%: $2.68
Slippage, 4 orders: −$7.4
Fee HTX: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$23.72
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Bulk: live order book, 2 min ago.

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 HTX live order book, 2 min ago	0.03 bp	8.2 bp −$8	11.2 bp −$112	36.5 bp −$3,650	doesn't fit
Sell Bulk live order book, 2 min ago	0.33 bp	3.8 bp −$4	4.6 bp −$46	11.0 bp −$1,103	23.3 bp −$11.7K

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	1.5326	+0.044%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	+0.015%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	+0.070%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5325	+0.038%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0007% / S +0.0090%	1h	1.5324	+0.029%	$840K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5327	+0.051%	$9.3M	$25.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5327	+0.050%	$15.0M	$69.9M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5330	+0.070%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.572%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5325	+0.040%	$2.8M	$13.8M	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	1.5327	+0.051%	$510K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5337	+0.119%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5324	+0.033%	$38.8M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5326	+0.044%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5340	+0.136%	$541.4M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5341	+0.142%	$340.3M	$931.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5346	+0.175%	$125.7M	$884.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5324	+0.031%	$570K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	+0.005%	$117K	$707K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5333	+0.090%	$1.7M	$570K	20x
Gate XRP_USDT	+0.0100%	8h	1.5322	+0.018%	$361.7M	$149.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5323	+0.025%	$299.3M	$900.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5321	+0.012%	$108.5M	$166.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5321	+0.012%	$267.6M	$377.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5321	+0.012%	—	$122.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5290	−0.188%	$8.2M	$33.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5317	−0.011%	$665K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5319	+0.001%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5290	−0.191%	$1.0M	$901K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5326	+0.043%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5332	+0.084%	$46K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5327	+0.054%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5330	+0.069%	$825K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5332	+0.084%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5327	+0.051%	$30K	$1.8M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5319	long leg	$50.3M	$15.6M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5327	+0.051%	$54.6M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5324	+0.035%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5343	+0.155%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5311	−0.056%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5325	+0.037%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5329	+0.064%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5328	+0.054%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	+0.025%	$24.0M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5336	+0.110%	$5.8M	$46.8M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5334	+0.097%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5326	+0.047%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5334	+0.097%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0556%	1h	1.5338	+0.123%	$290.0M	$216.0M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5338	+0.120%	$525K	$746K	10x	as long as short
Aftermath Perps XRPUSD	+0.0781%	1h	1.5333	+0.089%	$1K	$11K	10x	as long as short