Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0728%/8h= −79.7% APRpaid last 24h −0.109%

Price spread now: HTX against RISEx−0.172%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.298%−$30 on $10k

Price spread, last 3 days (all we have)−0.045%−$4 · spread now −0.172%, 7d avg −0.094%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and HTX is 0.078% cheaper against RISEx than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XRP/USDC	1.5328	0.0828	pay 0.0103% / 1h	50m 12s	$506K	$755K	10x
Short	HTX XRP-USDT	1.5302	0.0100	get 0.0100% / 8h	7h 50m	$50.2M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against RISEx. 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 RISExbpFee HTXbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$152.84
Price spread: −0.172% → −0.094%: −$7.81
Slippage, 4 orders: −$8.53
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$187.18
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from RISEx: live order book, 23 min ago; HTX: 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 RISEx live order book, 23 min ago	1.37 bp	4.4 bp −$4	9.2 bp −$92	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	1.62 bp	10.0 bp −$10	13.1 bp −$131	33.1 bp −$3,306	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	1.5317	−0.073%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5316	−0.081%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5312	−0.107%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0086%	1h	1.5310	−0.120%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.512%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5306	−0.145%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5310	−0.119%	$9.3M	$25.5M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5311	−0.114%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5318	−0.067%	$511K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5328	−0.002%	$8K	$8K	10x	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	1.5327	−0.008%	$11K	$276K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5317	−0.072%	$478K	$54K	50x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5312	−0.106%	$38.7M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5322	−0.038%	$633K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5314	−0.093%	$538.5M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5311	−0.113%	$339.8M	$929.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5311	−0.113%	$125.0M	$880.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	−0.054%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5325	−0.021%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	+0.057%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5312	−0.106%	$373.5M	$148.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5311	−0.113%	$296.4M	$894.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5314	−0.090%	$108.6M	$167.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5311	−0.113%	$268.4M	$376.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5313	−0.099%	—	$123.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.006%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.414%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5387	+0.383%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5397	+0.449%	$1.0M	$906K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5324	−0.031%	$1.0M	$5.6M	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5323	−0.036%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5322	−0.041%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5313	−0.099%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5306	−0.143%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5317	−0.072%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5311	−0.113%	$29K	$1.8M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5302	−0.172%	$50.2M	$15.6M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5314	−0.093%	$54.5M	$29.8M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5301	−0.176%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5305	−0.150%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5311	−0.110%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5330	+0.011%	$23.9M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5317	−0.073%	$5.8M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0244%	1h	1.5319	−0.060%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5308	−0.131%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5393	+0.420%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5328	−0.002%	$2.0M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0436%	1h	1.5326	−0.015%	$290.6M	$215.7M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.468%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0797%	1h	1.5357	+0.185%	$1K	$11K	10x	as long as short
RISEx XRP/USDClong	+0.0828%	1h	1.5328	long leg	$506K	$755K	10x