Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.031%

Price spread now: Coinbase International against SunX+0.055%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.635% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.055%, 7d avg +0.005%

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.050% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5321	0.0100	pay 0.0100% / 8h	7h 17m	$129K	$1.7M	30x
Short	Coinbase International XRP-PERP-INTX	1.5330	0.0160	get 0.0020% / 1h	17m 51s	$5.4M	$47.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.055%Rate

Funding earned: $12.6
Price spread: +0.055% → +0.005%: $5.05
Slippage, 4 orders: −$45.49
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$45.84
Costs to cover: 0.635%
Break-even: 32.5 days

Slippage from SunX: live order book, 8 min ago; Coinbase International: live order book, 1 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 SunX live order book, 8 min ago	17.60 bp	21.6 bp −$22	26.3 bp −$263	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.33 bp	5.5 bp −$6	9.5 bp −$95	26.8 bp −$2,680	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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5328	+0.043%	$13.9M	$75.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5314	−0.049%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5280	−0.271%	$69K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5322	+0.005%	$249K	—	150x	as long as short
dYdX XRP-USD	+0.0007%	1h	1.5308	−0.089%	$1.1M	$123K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5334	+0.082%	$7.8M	$22.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.557%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5289	−0.212%	$17K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5319	−0.016%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5312	−0.060%	$2.8M	$14.7M	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	1.5316	−0.036%	$622K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5310	−0.075%	$20K	$379K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5307	−0.098%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5311	−0.071%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5313	−0.057%	$616K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5313	−0.055%	$533.8M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5321	−0.003%	$357.3M	$917.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5321	−0.003%	$127.0M	$839.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5302	−0.127%	$561K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	−0.010%	$145K	$698K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5316	−0.037%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5310	−0.075%	$375.7M	$155.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5312	−0.062%	$317.7M	$925.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5315	−0.042%	$107.7M	$180.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5309	−0.082%	$271.1M	$369.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5311	−0.069%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	−0.080%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5289	−0.214%	$667K	$113.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5295	−0.173%	$1.1M	$33.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5296	−0.166%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5318	−0.023%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5315	−0.042%	$52K	$504K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5325	+0.022%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5331	+0.062%	$78K	$646K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−1.122%	$815K	$76K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5321	long leg	$129K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5329	+0.049%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5330	+0.056%	$50.0M	$14.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5324	+0.016%	$54.5M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5314	−0.051%	$478K	$53K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5306	−0.103%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5328	+0.043%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0132% / S −0.0093%	1h	1.5324	+0.017%	$784K	—	200x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0160%	1h	1.5330	+0.055%	$5.4M	$47.0M	50x
Kalshi KXXRPPERP	+0.0170%	8h	1.5318	−0.023%	$1.7M	$32.9M	2.9x	as long as short
Hyperliquid XRP	+0.0177%	1h	1.5324	+0.016%	$293.0M	$264.7M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0215%	1h	1.5335	+0.088%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5298	−0.153%	$23.8M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5320	−0.013%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5320	−0.011%	$524K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0522%	1h	1.5262	−0.389%	$3K	$16K	10x	as long as short