Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.020%

Price spread now: Injective against HTX+0.615%55s7-day average — · you sell dearer than you buy

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.615% dearer against HTX than usual: you sell high and buy low (spread +0.615% now, against zero (this spread has no 7-day history yet)): +$62 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 days. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5196	0.0100	pay 0.0100% / 8h	2h 31m	$50.0M	$14.6M	75x
Short	Injective XRP/USDC PERP	1.5290	0.0040	get 0.0005% / 1h	31m 22s	$2K	$86K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.615%Rate

Funding earned: −$12.68
Price spread: +0.615% → 0.000%: $61.53
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $36.82
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 3 min ago; Injective: no order-book sample. 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 HTX live order book, 3 min ago	0.03 bp	8.5 bp −$8	11.3 bp −$113	32.6 bp −$3,257	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5205	+0.057%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5203	+0.043%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5203	+0.041%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5220	+0.155%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5213	+0.109%	$9.1M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5205	+0.055%	$254K	—	150x	as long as short
Injective XRP/USDC PERPshort	+0.0040%	1h	1.5290	+0.615%	$2K	$86K	30x
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5199	+0.016%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5201	+0.032%	$2.9M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5203	+0.043%	$441K	$3.1M	20x	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	1.5202	+0.039%	$1.0M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5197	+0.003%	$38.6M	$71.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	+0.031%	$661K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5205	+0.056%	$543.9M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5206	+0.063%	$340.5M	$833.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5203	+0.043%	$122.6M	$824.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5192	−0.030%	$566K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5205	+0.056%	$114K	$646K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.031%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5206	+0.063%	$355.1M	$129.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5204	+0.049%	$290.9M	$802.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5203	+0.045%	$112.2M	$146.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5209	+0.082%	$264.7M	$338.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5203	+0.043%	—	$113.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5254	+0.378%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5218	+0.139%	$661K	$95.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.365%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5206	+0.063%	$1.0M	$848K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5207	+0.069%	$50K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5205	+0.055%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5203	+0.042%	$819K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5210	+0.090%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5210	+0.089%	$29K	$1.9M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5196	long leg	$50.0M	$14.6M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5206	+0.063%	$54.4M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5200	+0.024%	$474K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5204	+0.047%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5211	+0.095%	$11K	$245K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5203	+0.041%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5207	+0.069%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0121%	1h	1.5213	+0.109%	$1.7M	$919K	25x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5209	+0.082%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5211	+0.094%	$15.2M	$63.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5216	+0.128%	$5.4M	$43.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5203	+0.043%	$1.3M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0214%	8h	1.5218	+0.141%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5206	+0.063%	$23.7M	$66.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5209	+0.081%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5209	+0.081%	$403K	$496K	10x	as long as short
Hyperliquid XRP	+0.0444%	1h	1.5222	+0.168%	$278.8M	$180.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0555%	1h	1.5229	+0.213%	$1K	$10K	10x	as long as short