Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX−0.059%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$910.912% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.059%, 7d avg −0.021%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.039% cheaper against SunX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5243	0.0100	pay 0.0100% / 8h	40m 32s	$128K	$1.8M	30x
Short	dYdX XRP-USD	1.5233	0	get 0.0000% / 1h	40m 32s	$1.1M	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$21
Price spread: −0.059% → −0.021%: −$3.86
Slippage, 4 orders: −$73.23
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$116.09
Costs to cover: 0.912%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; dYdX: 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 SunX live order book, 5 min ago	17.60 bp	21.6 bp −$22	24.9 bp −$249	doesn't fit	doesn't fit
Sell dYdX live order book, 4 min ago	15.44 bp	20.4 bp −$20	20.4 bp −$204	41.8 bp −$4,184	93.9 bp −$46.9K

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	1.5226	−0.108%	$5K	$3K	20x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5233	−0.059%	$1.1M	$148K	10x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5237	−0.035%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5240	−0.016%	$7.8M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.083%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5231	−0.073%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5227	−0.099%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5227	−0.102%	$601K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5214	−0.187%	$12K	$372K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0059%	1h	1.5237	−0.036%	$786K	—	200x	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	1.5223	−0.128%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5221	−0.138%	$38.6M	$86.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5228	−0.094%	$614K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5214	−0.186%	$532.9M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5215	−0.180%	$350.4M	$956.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5216	−0.174%	$128.3M	$875.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	−0.121%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	−0.102%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.341%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5220	−0.148%	$379.5M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5225	−0.115%	$314.8M	$920.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5227	−0.102%	$107.1M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5216	−0.174%	$269.0M	$391.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5225	−0.115%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	−0.111%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5232	−0.070%	$663K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.060%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	+0.043%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5227	−0.100%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5220	−0.148%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5232	−0.069%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5233	−0.062%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5236	−0.043%	$820K	$74K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5243	long leg	$128K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5236	−0.043%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	−0.030%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5233	−0.062%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5230	−0.085%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5214	−0.185%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5234	−0.052%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5220	−0.148%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5250	+0.047%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0149%	1h	1.5233	−0.062%	$290.6M	$268.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5241	−0.010%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5246	+0.023%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0201%	8h	1.5242	−0.003%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5228	−0.095%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5238	−0.030%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5221	−0.140%	$524K	$806K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.115%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5237	−0.036%	$2K	$16K	10x	as long as short