Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h −0.065%

Price spread now: GMX against edgeX−0.275%70s7-day average +0.052% · you buy dearer than you sell

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.088%−$9 on $10k

Price spread, last 3 days (all we have)+0.484%+$48 · spread now −0.275%, 7d avg +0.052%

Together, before fees+0.396%+ Points / potential airdropedgeX: Active · farm board+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and GMX is 0.327% cheaper against edgeX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.052%). Swap the legs. The two prices were read 70 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	1.5529	0.0100	pay 0.0050% / 4h	37m 49s	$674K	$103.7M	30x
Short	GMX XRP/USD [ETH-USDC]	1.5486	L +0.0007% / S +0.0103%	pay 0.0013% / 1h	37m 49s	$853K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.275%Rate

Funding earned: −$42.53
Price spread: −0.275% → +0.052%: −$32.72
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$96.26
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 1 min ago; GMX: 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 edgeX live order book, 1 min ago	0.97 bp	5.5 bp −$5	5.5 bp −$55	8.8 bp −$876	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	1.5494	−0.223%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5485	−0.284%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5550	+0.137%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5488	−0.265%	$259K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0007% / S +0.0103%	1h	1.5486	−0.275%	$853K	—	200x
Deribit XRP_USDC-PERPETUAL	+0.0008%	1h	1.5490	−0.249%	$9.6M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5486	−0.272%	$15.5M	$68.8M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5489	−0.256%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.202%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5482	−0.297%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5491	−0.243%	$441K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5494	−0.223%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5485	−0.281%	$39.4M	$80.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5490	−0.248%	$637K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5479	−0.320%	$553.6M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5482	−0.301%	$346.8M	$919.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5481	−0.307%	$126.9M	$884.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5473	−0.359%	$578K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5497	−0.204%	$116K	$754K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5506	−0.147%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5478	−0.326%	$373.3M	$144.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5474	−0.352%	$296.8M	$874.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5486	−0.272%	$112.8M	$163.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5478	−0.326%	$270.0M	$372.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5478	−0.326%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5522	−0.046%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5529	long leg	$674K	$103.7M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5516	−0.080%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5524	−0.030%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5491	−0.243%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5504	−0.159%	$47K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5491	−0.243%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5489	−0.256%	$834K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5496	−0.207%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5486	−0.275%	$33K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5484	−0.290%	$50.8M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5490	−0.249%	$55.1M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5494	−0.220%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5500	−0.185%	$12K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5489	−0.256%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5485	−0.282%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5502	−0.172%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5487	−0.270%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5488	−0.262%	$24.5M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5495	−0.217%	$5.9M	$47.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5494	−0.226%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5493	−0.230%	$1.9M	$34.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5500	−0.185%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5499	−0.192%	$294.6M	$209.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5509	−0.128%	$504K	$633K	10x	as long as short
Aftermath Perps XRPUSD	+0.0789%	1h	1.5540	+0.070%	$1K	$11K	10x	as long as short