Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Derive against SunX−0.146%7-day average −0.020% · you buy dearer than you sell

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

Long on SunX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 3 days (all we have)+0.094%+$9 · spread now −0.146%, 7d avg −0.020%

Together, before fees+0.089%+$9 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: Derive is 0.126% cheaper against SunX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5668	0.0100	pay 0.0100% / 8h	1h 38m	$131K	$1.8M	30x
Short	Derive XRP-PERP	1.5645	0.0100	get 0.0013% / 1h	38m 05s	$842K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → −0.020%: −$12.63
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$26.63
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Derive: 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 SunX live order book, 7 min ago	14.41 bp	18.4 bp −$18	23.8 bp −$238	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	1.5649	−0.118%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5650	−0.114%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5617	−0.322%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5653	−0.092%	$262K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.409%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5606	−0.392%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5643	−0.156%	$81K	$938K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0134%	1h	1.5653	−0.094%	$922K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5613	−0.347%	$3.0M	$11.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5614	−0.341%	$461K	$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	1.5674	+0.045%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5610	−0.368%	$39.7M	$76.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5655	−0.081%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5611	−0.361%	$563.6M	$1.94B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5611	−0.361%	$351.6M	$880.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5613	−0.348%	$127.6M	$872.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5693	+0.163%	$584K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5671	+0.022%	$120K	$729K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.099%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5612	−0.354%	$374.8M	$137.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5612	−0.354%	$293.6M	$835.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5614	−0.342%	$114.9M	$156.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5614	−0.341%	$271.6M	$357.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5611	−0.361%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.142%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5681	+0.084%	$681K	$99.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	−0.097%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5674	+0.041%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5660	−0.049%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5676	+0.054%	$47K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5653	−0.093%	$42K	$64K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5645	−0.146%	$842K	$79K	10x
SunX XRP-USDTlong	+0.0100%	8h	1.5668	long leg	$131K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5613	−0.348%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5604	−0.404%	$51.3M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5614	−0.341%	$55.6M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5673	+0.033%	$489K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5675	+0.048%	$13K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5638	−0.190%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5615	−0.335%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5683	+0.099%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5675	+0.048%	$9K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5661	−0.042%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5619	−0.310%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5633	−0.220%	$24.5M	$72.9M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5625	−0.271%	$1.8M	$972K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5650	−0.112%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.399%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5676	+0.054%	$512K	$615K	10x	as long as short
Hyperliquid XRP	+0.0619%	1h	1.5628	−0.252%	$291.4M	$199.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5674	+0.040%	$1K	$11K	10x	as long as short