Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: GRVT against Orderly−0.094%7-day average −0.003% · you buy dearer than you sell

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

Long on Orderly Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.094%, 7d avg −0.003%

Together, before fees+0.212%+ Points / potential airdropGRVT: Active · farm board+$21 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: GRVT is 0.091% cheaper against Orderly than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5203	0.0100	pay 0.0100% / 8h	7h 56m	$78K	$689K	50x
Short	GRVT XRP_USDT_Perp	1.5189	0.0100	get 0.0100% / 8h	7h 56m	$1.1M	$33.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Orderly. 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 OrderlybpFee GRVTbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.003%: −$9.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$24.11
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; GRVT: live order book, 2 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell GRVT live order book, 2 min ago	0.33 bp	4.8 bp −$5	17.8 bp −$178	63.9 bp −$6,394	doesn't fit

Orderly: 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 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	1.5200	−0.020%	$14.7M	$73.7M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5188	−0.099%	$5K	$3K	20x	as long as short
Phemex XRPUSDT	−0.0029%	8h	1.5200	−0.020%	$54.1M	$32.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5186	−0.109%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5201	−0.013%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5205	+0.013%	$7.7M	$23.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.348%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5173	−0.197%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5204	+0.007%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5205	+0.013%	$606K	$3.1M	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	1.5196	−0.046%	$20K	$382K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.109%	$995K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5203	+0.001%	$38.6M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5193	−0.067%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5210	+0.046%	$531.0M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5206	+0.020%	$353.0M	$949.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5206	+0.020%	$127.4M	$864.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	−0.184%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5207	+0.026%	$144K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.089%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5206	+0.020%	$378.6M	$151.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5210	+0.046%	$312.1M	$910.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5206	+0.016%	$106.5M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5209	+0.039%	$269.8M	$389.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5209	+0.039%	—	$108.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	−0.234%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5175	−0.181%	$659K	$112.6M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5189	−0.094%	$1.1M	$33.6M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5173	−0.197%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5200	−0.021%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5204	+0.007%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5205	+0.016%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDClong	+0.0100%	8h	1.5203	long leg	$78K	$689K	50x
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.023%	$818K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5198	−0.030%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5200	−0.020%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	−0.007%	$49.6M	$15.3M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5203	+0.001%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5206	+0.017%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5200	−0.020%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0112% / S −0.0075%	1h	1.5203	−0.003%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5206	+0.020%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5207	+0.026%	$5.6M	$48.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0161%	8h	1.5202	−0.007%	$1.7M	$33.6M	2.9x	as long as short
Hyperliquid XRP	+0.0198%	1h	1.5218	+0.099%	$290.6M	$268.3M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5204	+0.007%	$23.7M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5197	−0.042%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0286%	1h	1.5218	+0.099%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5209	+0.041%	$522K	$795K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	−0.151%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0568%	1h	1.5187	−0.102%	$2K	$16K	10x	as long as short