Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0269%/8h= −29.5% APRpaid last 24h −0.109%

Price spread now: GMX against Paradex+0.109%7-day average +0.015% · you sell dearer than you buy

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

Long on Paradex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.231%−$23 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.109%, 7d avg +0.015%

Together, before fees−0.350%+ Points / potential airdropParadex: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.094% dearer against Paradex than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of +0.015%): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5414	0.0100	pay 0.0100% / 8h	2h 08m	$481K	$54K	50x
Short	GMX XRP/USD [ETH-USDC]	1.5431	L +0.0075% / S +0.0169%	pay 0.0021% / 1h	8m 40s	$909K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Paradex. 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 ParadexbpFee GMXbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$56.53
Price spread: +0.109% → +0.015%: $9.41
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$63.13
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 15 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 Paradex live order book, 15 min ago	4.24 bp	6.2 bp −$6	146.0 bp −$1,460	doesn't fit	doesn't fit
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 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	1.5416	+0.010%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5422	+0.048%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.230%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5433	+0.120%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5432	+0.114%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.808%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5438	+0.152%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0075% / S +0.0169%	1h	1.5431	+0.109%	$909K	—	200x
Lighter XRP	+0.0096%	1h	1.5424	+0.063%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5422	+0.049%	$446K	$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
Nado XRP-PERP	+0.0100%	1h	1.5442	+0.182%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5417	+0.016%	$39.3M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5419	+0.030%	$674K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5414	−0.005%	$554.6M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5415	+0.003%	$346.7M	$852.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5411	−0.023%	$126.1M	$847.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.036%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5423	+0.055%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.370%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5413	−0.010%	$368.2M	$133.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5414	−0.003%	$293.6M	$821.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5414	−0.002%	$112.2M	$149.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5414	−0.003%	$267.1M	$346.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5416	+0.010%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.471%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.319%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	+0.368%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.483%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5442	+0.179%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5445	+0.198%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5435	+0.133%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5432	+0.112%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5450	+0.233%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5429	+0.094%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5420	+0.038%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	+0.003%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5414	long leg	$481K	$54K	50x
Katana Perps XRP-USD	+0.0101%	8h	1.5417	+0.016%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5413	−0.010%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5431	+0.110%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5421	+0.042%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5427	+0.081%	$15.7M	$65.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5440	+0.165%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5421	+0.042%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5436	+0.136%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	+0.094%	$24.2M	$68.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.432%	$19K	$66K	7x	as long as short
Kalshi KXXRPPERP	+0.0299%	8h	1.5457	+0.276%	$1.8M	$32.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5426	+0.072%	$405K	$499K	10x	as long as short
Hyperliquid XRP	+0.0507%	1h	1.5447	+0.211%	$284.6M	$190.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5450	+0.228%	$1K	$11K	10x	as long as short