Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.083%

Price spread now: GMX against MEXC+0.041%73s7-day average +0.020% · you sell dearer than you buy

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.248%−$25 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now +0.041%, 7d avg +0.020%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and GMX is 0.021% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.020%. Mind the row above: over the last 4 days funding on this pair cost −0.248%, so the current rate has only just turned in your favour. The two prices were read 73 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	MEXC XRP_USDT	1.5478	0.0100	pay 0.0100% / 8h	7h 00m	$312.6M	$945.4M	300x
Short	GMX XRP/USD [ETH-USDC]	1.5484	L +0.0143% / S −0.0109%	get 0.0014% / 1h	0m 05s	$830K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $1.95
Price spread: +0.041% → +0.020%: $2.1
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$7.96
Costs to cover: 0.120%
Break-even: 35.6 days

Slippage unknown: MEXC: live order book, 4 min ago; GMX: 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 MEXC live order book, 4 min ago	0.32 bp	0.3 bp $0	0.3 bp −$3	6.1 bp −$615	38.0 bp −$19.0K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 50 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	−0.0168%	1h	1.5480	+0.014%	$14.2M	$73.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5485	+0.045%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.078%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5481	+0.019%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.004%	$251K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5486	+0.054%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.530%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5485	+0.042%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5494	+0.103%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5478	0.000%	$2.8M	$14.8M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5480	+0.013%	$614K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5491	+0.084%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5494	+0.106%	$483K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5486	+0.048%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5474	−0.026%	$39.2M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5487	+0.060%	$627K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5473	−0.031%	$541.0M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5473	−0.032%	$361.4M	$906.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5471	−0.045%	$125.3M	$849.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5481	+0.019%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5499	+0.136%	$168K	$704K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.296%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5473	−0.032%	$387.7M	$160.8M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5478	long leg	$312.6M	$945.4M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5479	+0.005%	$109.7M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5476	−0.013%	$274.3M	$360.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5473	−0.032%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5471	−0.048%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5483	+0.032%	$674K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	+0.304%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	+0.045%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5484	+0.038%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5479	+0.006%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5479	+0.004%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5479	+0.006%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5480	+0.014%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5477	−0.006%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5468	−0.064%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5479	+0.006%	$55.0M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5472	−0.038%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5476	−0.010%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0143% / S −0.0109%	1h	1.5484	+0.041%	$830K	—	200x
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5480	+0.013%	$5.3M	$46.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5491	+0.084%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5491	+0.084%	$298.9M	$266.3M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5481	+0.019%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5483	+0.031%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0234%	1h	1.5486	+0.052%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5497	+0.123%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0478%	1h	1.5481	+0.021%	$3K	$15K	10x	as long as short