Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against HTX+0.003%7-day average +0.036% · 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−$31as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on HTX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.003%, 7d avg +0.036%

Together, before fees+0.022%+$2 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: SoDEX is 0.033% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5226	0.0100	pay 0.0100% / 8h	3h 29m	$49.8M	$15.8M	75x
Short	SoDEX XRP-USD	1.5226	0.0100	get 0.0013% / 1h	29m 00s	$29K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0
Price spread: +0.003% → +0.036%: −$3.34
Slippage, 4 orders: −$7.61
Fee HTX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$30.95
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago	0.92 bp	8.1 bp −$8	9.0 bp −$90	32.3 bp −$3,232	doesn't fit
Sell SoDEX live order book, 5 min ago	0.33 bp	4.3 bp −$4	6.8 bp −$68	doesn't fit	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	1.5251	+0.167%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5226	+0.006%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5228	+0.012%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5230	+0.029%	$7.8M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5225	−0.003%	$14.5M	$74.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.196%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0010%	1h	1.5228	+0.012%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5225	−0.004%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5226	+0.003%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5234	+0.055%	$10K	$347K	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	1.5232	+0.039%	$997K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5218	−0.050%	$38.6M	$85.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5238	+0.078%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5215	−0.072%	$536.0M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5217	−0.056%	$347.7M	$943.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5217	−0.056%	$127.1M	$888.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5212	−0.089%	$566K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	+0.095%	$134K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5212	−0.089%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5218	−0.050%	$370.3M	$155.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5216	−0.063%	$295.0M	$903.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5228	+0.014%	$109.4M	$177.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5214	−0.076%	$269.9M	$389.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5218	−0.050%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5245	+0.126%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5233	+0.048%	$662K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5244	+0.121%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.173%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5234	+0.053%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5234	+0.055%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5228	+0.016%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5222	−0.024%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5224	−0.008%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5226	+0.003%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5226	+0.003%	$29K	$1.7M	10x
HTX XRP-USDTlong	+0.0100%	8h	1.5226	long leg	$49.8M	$15.8M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5224	−0.011%	$54.2M	$31.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5227	+0.008%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5212	−0.089%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5222	−0.024%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5240	+0.095%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5230	+0.029%	$5.7M	$47.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5230	+0.028%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5226	+0.003%	$24.2M	$76.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5241	+0.098%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0286%	1h	1.5228	+0.016%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0357%	8h	1.5239	+0.088%	$1.9M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5238	+0.082%	$519K	$776K	10x	as long as short
Hyperliquid XRP	+0.0392%	1h	1.5237	+0.075%	$301.6M	$245.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5240	+0.095%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5229	+0.020%	$2K	$15K	10x	as long as short