Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: GRVT against Injective−2.694%7-day average −0.716% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$300as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+3.387%+$339 · spread now −2.694%, 7d avg −0.716%

Together, before fees+3.316%+ Points / potential airdropGRVT: Active · farm board+$332 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 1.977% cheaper against Injective than usual: you would sell low and buy high (spread −2.694% now, against its 7-day average of −0.716%). If the spread goes back, that is −$198 on $10k: about 3 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	56m 58s	$2K	$107K	30x
Short	GRVT XRP_USDT_Perp	1.5141	0.0100	get 0.0100% / 8h	3h 56m	$1.1M	$36.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Injective. 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 InjectivebpFee GRVTbpOrdersPrice spread, now −2.694%Rate

Funding earned: $14
Price spread: −2.694% → −0.716%: −$197.71
Slippage, 4 orders: −$93.68
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$286.41
Costs to cover: 1.027%
Break-even: 150.2 days

Slippage from Injective: live order book, 62 min ago; GRVT: live order book, 2 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 Injective live order book, 62 min ago	42.92 bp	42.9 bp −$43	56.1 bp −$561	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	0.33 bp	5.7 bp −$6	15.7 bp −$157	50.8 bp −$5,083	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	1.5149	−2.641%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5153	−2.614%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−2.635%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5141	−2.691%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5141	−2.693%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5137	−2.717%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0018%	1h	1.5141	−2.693%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0095%	8h	1.5140	−2.699%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5143	−2.681%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5143	−2.680%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5134	−2.738%	$10K	$331K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5139	−2.702%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5140	−2.699%	$38.3M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	−2.600%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5136	−2.725%	$532.4M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5137	−2.719%	$346.5M	$938.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5140	−2.699%	$127.7M	$877.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5138	−2.712%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5147	−2.654%	$118K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−2.866%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5137	−2.719%	$369.9M	$152.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5136	−2.725%	$292.5M	$895.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5140	−2.701%	$107.9M	$175.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5136	−2.725%	$268.1M	$386.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5137	−2.719%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	−2.610%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5146	−2.660%	$658K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5141	−2.694%	$1.1M	$36.0M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5151	−2.629%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5142	−2.686%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5144	−2.674%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5141	−2.695%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	−2.666%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5139	−2.706%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5141	−2.693%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5140	−2.699%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5151	−2.630%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5143	−2.683%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5133	−2.742%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5136	−2.724%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5144	−2.674%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0128%	1h	1.5147	−2.651%	$280.2M	$228.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5147	−2.654%	$5.6M	$47.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5142	−2.688%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5140	−2.698%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5140	−2.699%	$24.2M	$76.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0242%	1h	1.5147	−2.654%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0244%	8h	1.5151	−2.629%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5146	−2.659%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0671%	1h	1.5149	−2.644%	$2K	$15K	10x	as long as short