Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SunX+0.019%7-day average −0.027% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$314as in the Price arb table

costs, in and out, $10k−$3183.184% of the position

Long on SunX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.536%+$54 · spread now +0.019%, 7d avg −0.027%

Together, before fees+0.429%+$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.046% dearer against SunX than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.027%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5533	0.0100	pay 0.0100% / 8h	7h 03m	$130K	$1.6M	30x
Short	gTrade (Gains Network) XRP/USD	1.5536	L +0.0003% / S −0.0004%	get 0.0000% / 1h	3m 08s	$252K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.019%Rate

Funding earned: −$20.18
Price spread: +0.019% → −0.027%: $4.57
Slippage, 4 orders: −$300.36
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$333.97
Costs to cover: 3.184%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; gTrade (Gains Network): virtual book (oracle venue), 31 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, 12 min ago	14.70 bp	24.5 bp −$25	27.3 bp −$273	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.05 bp	135.0 bp −$135	193.2 bp −$1,932	1958.1 bp −$195.8K	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
Kraken Futures PF_XRPUSD	−0.0168%	1h	1.5534	+0.002%	$14.2M	$73.7M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5529	−0.028%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	−0.279%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5539	+0.037%	$8.1M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5536	+0.019%	$252K	—	150x
dYdX XRP-USD	+0.0005%	1h	1.5531	−0.017%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.172%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5535	+0.014%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5531	−0.015%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5534	+0.005%	$2.8M	$14.8M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5526	−0.047%	$629K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5526	−0.047%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5538	+0.029%	$485K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5517	−0.102%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5529	−0.027%	$39.3M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5532	−0.006%	$629K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5514	−0.126%	$542.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5518	−0.098%	$360.5M	$906.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5518	−0.098%	$126.6M	$851.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5449	−0.543%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5537	+0.024%	$163K	$699K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.651%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5524	−0.060%	$390.4M	$160.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5528	−0.034%	$317.6M	$941.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5532	−0.006%	$110.1M	$180.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5524	−0.060%	$275.2M	$361.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5521	−0.079%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5506	−0.176%	$4.9M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5483	−0.324%	$674K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	−0.053%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	−0.311%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5533	−0.004%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5532	−0.008%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5536	+0.018%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5532	−0.008%	$79K	$623K	50x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5533	long leg	$130K	$1.6M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5535	+0.011%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5526	−0.048%	$50.6M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5528	−0.034%	$55.2M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5523	−0.063%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5532	−0.009%	$60K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0108%	1h	1.5522	−0.074%	$832K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5535	+0.011%	$5.3M	$46.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5538	+0.030%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5541	+0.048%	$299.6M	$265.5M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5528	−0.034%	$23.9M	$79.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5530	−0.020%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5535	+0.011%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5535	+0.009%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0483%	1h	1.5459	−0.475%	$3K	$15K	10x	as long as short