Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.084%

Price spread now: SunX against Hyperliquid−0.038%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$600.597% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.660%−$66 · spread now −0.038%, 7d avg −0.048%

Together, before fees−0.751%+ Points / potential airdropHyperliquid: Season 2 · farm board−$75 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5131	0.0100	pay 0.0013% / 1h	41m 11s	$280.3M	$221.4M	20x
Short	SunX XRP-USDT	1.5125	0.0100	get 0.0100% / 8h	5h 41m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.048%: $1.07
Slippage, 4 orders: −$42.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$58.62
Costs to cover: 0.597%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; SunX: live order book, 4 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, 13 min ago	0.33 bp	4.8 bp −$5	4.9 bp −$49	10.0 bp −$997	doesn't fit
Sell SunX live order book, 4 min ago	16.94 bp	27.3 bp −$27	34.9 bp −$349	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	1.5125	−0.040%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5115	−0.105%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5122	−0.059%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0015%	1h	1.5120	−0.073%	$7.6M	$25.4M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0032% / S +0.0047%	1h	1.5120	−0.072%	$816K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.835%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5122	−0.059%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5124	−0.046%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5121	−0.067%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5126	−0.033%	$509K	$3.2M	20x	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	1.5117	−0.093%	$9K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.017%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRPlong	+0.0100%	1h	1.5131	long leg	$280.3M	$221.4M	20x
Aster XRPUSDT	+0.0100%	8h	1.5124	−0.043%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5121	−0.067%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5122	−0.062%	$536.0M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5120	−0.073%	$343.1M	$925.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5124	−0.046%	$125.2M	$864.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5116	−0.099%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5131	0.000%	$114K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	+0.030%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5124	−0.046%	$369.8M	$151.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5118	−0.086%	$292.9M	$895.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5122	−0.061%	$106.5M	$170.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5125	−0.040%	$266.2M	$380.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5126	−0.033%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5109	−0.146%	$5.9M	$36.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5133	+0.011%	$658K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5153	+0.145%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5143	+0.079%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5129	−0.011%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5125	−0.040%	$41K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5123	−0.054%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5125	−0.037%	$814K	$75K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5125	−0.038%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5119	−0.079%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5117	−0.091%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5126	−0.033%	$53.8M	$29.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5120	−0.074%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5112	−0.122%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5117	−0.095%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5120	−0.073%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5126	−0.033%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5120	−0.073%	$24.2M	$74.5M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0236%	1h	1.5149	+0.119%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5119	−0.079%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5145	+0.091%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5127	−0.026%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5130	−0.006%	$525K	$770K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5120	−0.073%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0712%	1h	1.5131	0.000%	$2K	$14K	10x	as long as short