Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: Orderly against SunX+0.056%7-day average −0.028% · you sell dearer than you buy

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

Long on SunX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.056%, 7d avg −0.028%

Together, before fees−0.178%−$18 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: Orderly is 0.084% dearer against SunX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5129	0.0100	pay 0.0100% / 8h	2h 56m	$127K	$1.8M	30x
Short	Orderly PERP_XRP_USDC	1.5137	0.0100	get 0.0100% / 8h	2h 56m	$62K	$934K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.028%: $8.38
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; Orderly: 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, 9 min ago	17.29 bp	21.9 bp −$22	24.7 bp −$247	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5098	−0.202%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5137	+0.057%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5119	−0.061%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5139	+0.069%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	+0.077%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.852%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5137	+0.059%	$794K	—	200x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5130	+0.010%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5124	−0.032%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5123	−0.036%	$497K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5122	−0.043%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5130	+0.007%	$942K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5138	+0.066%	$290.2M	$257.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5136	+0.046%	$38.9M	$86.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5127	−0.009%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5140	+0.076%	$532.3M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5138	+0.063%	$342.7M	$950.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5138	+0.063%	$125.2M	$889.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5124	−0.030%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5133	+0.030%	$137K	$717K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5138	+0.063%	$373.1M	$154.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5131	+0.017%	$294.0M	$903.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	−0.019%	$108.1M	$179.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5136	+0.050%	$268.5M	$392.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5134	+0.036%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5110	−0.123%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.148%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5111	−0.113%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5112	−0.109%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5127	−0.008%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5129	+0.003%	$49K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5133	+0.029%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5137	+0.056%	$62K	$934K	50x
Derive XRP-PERP	+0.0100%	1h	1.5136	+0.047%	$814K	$72K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5129	long leg	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5135	+0.043%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5140	+0.077%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	+0.116%	$53.9M	$31.7M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5107	−0.139%	$1.6M	$29K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5127	−0.011%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5130	+0.013%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5133	+0.030%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5125	−0.023%	$1.8M	$35.5M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5145	+0.109%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5125	−0.022%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	+0.089%	$24.2M	$75.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5150	+0.143%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0265%	1h	1.5161	+0.215%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5132	+0.024%	$516K	$777K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	+0.010%	$67K	$109K	15x	as long as short
Aftermath Perps XRPUSD	+0.0629%	1h	1.5125	−0.026%	$2K	$15K	10x	as long as short