Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.031%

Price spread now: Coinbase International against HTX−0.030%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.030%, 7d avg +0.068%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.098% cheaper against HTX than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of +0.068%). If the spread goes back, that is −$10 on $10k: about 4.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5256	0.0100	pay 0.0100% / 8h	41m 29s	$49.8M	$15.4M	75x
Short	Coinbase International XRP-PERP-INTX	1.5251	0.0176	get 0.0022% / 1h	41m 29s	$5.7M	$48.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.030%Rate

Funding earned: $15.96
Price spread: −0.030% → +0.068%: −$9.8
Slippage, 4 orders: −$12.09
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$27.93
Costs to cover: 0.341%
Break-even: 19.2 days

Slippage from HTX: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	0.16 bp	10.3 bp −$10	13.6 bp −$136	37.4 bp −$3,743	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.33 bp	9.6 bp −$10	11.2 bp −$112	24.2 bp −$2,423	doesn't fit

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	1.5235	−0.135%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	−0.145%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5248	−0.049%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5252	−0.024%	$7.9M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.995%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5244	−0.078%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5234	−0.142%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5236	−0.128%	$602K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5230	−0.168%	$12K	$372K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0058%	1h	1.5250	−0.040%	$787K	—	200x	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	1.5233	−0.145%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5235	−0.135%	$38.6M	$87.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5234	−0.142%	$614K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5232	−0.157%	$533.6M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5230	−0.168%	$350.7M	$956.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5232	−0.155%	$128.5M	$876.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	−0.207%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5242	−0.089%	$145K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.426%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5231	−0.161%	$379.7M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5234	−0.142%	$314.9M	$920.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5236	−0.130%	$107.2M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5232	−0.155%	$269.2M	$391.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5232	−0.155%	—	$107.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5239	−0.112%	$4.9M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5232	−0.156%	$663K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	−0.026%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.043%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5240	−0.103%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5237	−0.122%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5249	−0.042%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5233	−0.148%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5238	−0.115%	$820K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5258	+0.018%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.083%	$28K	$1.6M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5256	long leg	$49.8M	$15.4M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5248	−0.050%	$54.5M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5236	−0.126%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5230	−0.165%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5247	−0.056%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5240	−0.102%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5250	−0.039%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0155%	1h	1.5248	−0.050%	$290.9M	$268.1M	20x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0176%	1h	1.5251	−0.030%	$5.7M	$48.5M	50x
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5252	−0.024%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0204%	8h	1.5237	−0.122%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5249	−0.043%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5227	−0.187%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5238	−0.112%	$529K	$804K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.029%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5237	−0.122%	$2K	$16K	10x	as long as short