Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.003%

Price spread now: gTrade (Gains Network) against edgeX−0.294%52s7-day average +0.016% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2812.810% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.055%+$6 on $10k

Price spread, last 4 days (all we have)+0.622%+$62 · spread now −0.294%, 7d avg +0.016%

Together, before fees+0.677%+ Points / potential airdropedgeX: Active · farm board+$68 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 gTrade (Gains Network) is 0.310% cheaper against edgeX than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of +0.016%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.055%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XRPUSDC	1.5150	0.0100	pay 0.0050% / 4h	35m 27s	$659K	$108.3M	30x
Short	gTrade (Gains Network) XRP/USD	1.5105	L +0.0003% / S −0.0004%	get 0.0001% / 1h	35m 27s	$252K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.294%Rate

Funding earned: −$20.13
Price spread: −0.294% → +0.016%: −$31
Slippage, 4 orders: −$262.05
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$332.18
Costs to cover: 2.810%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 24 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 edgeX live order book, 4 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	9.0 bp −$901	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 24 min ago	130.03 bp	135.0 bp −$135	193.2 bp −$1,932	1958.1 bp −$195.8K	doesn't fit

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	1.5122	−0.184%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5111	−0.257%	$14.2M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5146	−0.028%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.067%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5110	−0.263%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5105	−0.294%	$252K	—	150x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.707%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0040% / S +0.0029%	1h	1.5106	−0.290%	$786K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5143	−0.046%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0081%	8h	1.5108	−0.277%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5131	−0.125%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5131	−0.125%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5135	−0.098%	$9K	$324K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5143	−0.042%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5147	−0.018%	$281.2M	$225.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5131	−0.125%	$38.3M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5141	−0.059%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5141	−0.059%	$533.5M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5139	−0.072%	$344.6M	$932.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5138	−0.079%	$125.9M	$874.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5140	−0.065%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5137	−0.085%	$110K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5146	−0.027%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5139	−0.072%	$369.2M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5142	−0.052%	$289.6M	$898.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5147	−0.019%	$107.7M	$173.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5133	−0.112%	$267.7M	$384.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5139	−0.072%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5103	−0.311%	$5.4M	$37.3M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5150	long leg	$659K	$108.3M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5145	−0.032%	$1.1M	$35.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5142	−0.052%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5140	−0.065%	$44K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5107	−0.283%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5108	−0.274%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5118	−0.209%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5111	−0.257%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5111	−0.253%	$49.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5114	−0.237%	$53.9M	$30.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5136	−0.090%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5134	−0.104%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5135	−0.100%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5107	−0.283%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0158%	1h	1.5132	−0.118%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5108	−0.279%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5119	−0.204%	$5.5M	$47.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5131	−0.123%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5152	+0.014%	$24.1M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5135	−0.098%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5144	−0.041%	$516K	$778K	10x	as long as short
Aftermath Perps XRPUSD	+0.0653%	1h	1.5147	−0.019%	$2K	$15K	10x	as long as short