Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.090%

Price spread now: MEXC against Hyperliquid−0.105%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$100.103% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.105%, 7d avg −0.044%

Together, before fees−0.143%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.060% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5294	0.0181	pay 0.0023% / 1h	22m 43s	$292.6M	$263.7M	20x
Short	MEXC XRP_USDT	1.5278	0.0100	get 0.0100% / 8h	7h 22m	$315.8M	$922.0M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$17.02
Price spread: −0.105% → −0.044%: −$6.02
Slippage, 4 orders: −$1.32
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$33.35
Costs to cover: 0.103%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; MEXC: live order book, 1 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 Hyperliquid live order book, 11 min ago	0.33 bp	4.8 bp −$5	5.8 bp −$58	10.5 bp −$1,054	doesn't fit
Sell MEXC live order book, 1 min ago	0.33 bp	0.3 bp $0	0.4 bp −$4	3.7 bp −$375	23.1 bp −$11.5K

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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5274	−0.130%	$14.8M	$74.2M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5242	−0.340%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.680%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5263	−0.202%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0008%	1h	1.5277	−0.109%	$1.1M	$158K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.739%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5226	−0.446%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5288	−0.039%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5286	−0.052%	$621K	$3.1M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5246	−0.314%	$9K	$2K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5270	−0.157%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5255	−0.252%	$995K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5289	−0.033%	$38.7M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5285	−0.057%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5288	−0.041%	$532.6M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5276	−0.118%	$356.7M	$932.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5277	−0.111%	$126.9M	$850.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.660%	$557K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5282	−0.078%	$144K	$703K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.997%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5278	−0.105%	$377.8M	$154.7M	100x	as long as short
MEXC XRP_USDTshort	+0.0100%	8h	1.5278	−0.105%	$315.8M	$922.0M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5284	−0.065%	$107.6M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5275	−0.124%	$269.9M	$376.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5274	−0.131%	—	$108.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	−0.912%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	−0.720%	$659K	$112.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	−0.630%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5177	−0.765%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5253	−0.266%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5257	−0.242%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5263	−0.206%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5272	−0.144%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.944%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5268	−0.172%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5275	−0.124%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5278	−0.107%	$49.9M	$14.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5269	−0.163%	$54.3M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5284	−0.063%	$477K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5273	−0.140%	$2.1M	$6.6M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5270	−0.158%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0122% / S −0.0091%	1h	1.5268	−0.169%	$781K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0143%	1h	1.5279	−0.098%	$7.8M	$23.1M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5273	−0.137%	$5.4M	$47.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5256	−0.248%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRPlong	+0.0181%	1h	1.5294	long leg	$292.6M	$263.7M	20x
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5290	−0.026%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5268	−0.170%	$23.9M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5256	−0.247%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5278	−0.106%	$523K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0550%	1h	1.5194	−0.653%	$2K	$16K	10x	as long as short