Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h −0.026%

Price spread now: Deribit against SunX+0.020%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now +0.020%, 7d avg +0.005%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5187	0.0100	pay 0.0100% / 8h	6h 26m	$127K	$1.8M	30x
Short	Deribit XRP_USDC-PERPETUAL	1.5190	0.0211	get 0.0026% / 1h	26m 34s	$7.7M	$25.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.020%Rate

Funding earned: $23.31
Price spread: +0.020% → +0.005%: $1.5
Slippage, 4 orders: −$42.69
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$32.88
Costs to cover: 0.577%
Break-even: 16.9 days

Slippage from SunX: live order book, 9 min ago; Deribit: live order book, 3 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, 9 min ago	14.30 bp	18.3 bp −$18	23.0 bp −$230	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	0.99 bp	5.2 bp −$5	8.0 bp −$80	50.1 bp −$5,013	doesn't fit

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
Hotstuff XRP-PERP	−0.0080%	1h	1.5184	−0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5182	−0.031%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	−0.178%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5184	−0.020%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0060%	1h	1.5184	−0.022%	$804K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.456%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5184	−0.022%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5189	+0.013%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5191	+0.027%	$2.8M	$14.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5190	+0.020%	$517K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5188	+0.007%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5192	+0.036%	$890K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5188	+0.008%	$38.7M	$84.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5193	+0.038%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5199	+0.078%	$539.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5197	+0.066%	$342.7M	$939.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	+0.086%	$124.8M	$874.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.086%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5199	+0.079%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.016%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5195	+0.053%	$369.9M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5194	+0.046%	$291.7M	$911.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5185	−0.013%	$107.2M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5195	+0.053%	$266.4M	$383.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5196	+0.059%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5152	−0.229%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.151%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5164	−0.151%	$1.1M	$38.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.053%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5195	+0.052%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5200	+0.086%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5189	+0.013%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5191	+0.025%	$817K	$76K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5187	long leg	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5184	−0.020%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	−0.009%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5178	−0.059%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5195	+0.053%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5191	+0.030%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5185	−0.011%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5201	+0.092%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0211%	1h	1.5190	+0.020%	$7.7M	$25.3M	50x
Reya XRPRUSDPERP	+0.0214%	1h	1.5188	+0.007%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5193	+0.040%	$5.7M	$46.8M	50x	as long as short
Hyperliquid XRP	+0.0219%	1h	1.5195	+0.053%	$281.2M	$223.4M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5174	−0.083%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0355%	8h	1.5191	+0.026%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0364%	1h	1.5194	+0.046%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5201	+0.091%	$536K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0757%	1h	1.5159	−0.185%	$2K	$14K	10x	as long as short