Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.090%

Price spread now: Bitget against GMX+0.188%7-day average −0.030% · you sell dearer than you buy

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.179%+$18 on $10k

Price spread, last 3 days (all we have)−0.282%−$28 · spread now +0.188%, 7d avg −0.030%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.217% dearer against GMX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5511	L +0.0001% / S +0.0113%	pay 0.0000% / 1h	4m 44s	$853K	—	200x
Short	Bitget XRPUSDT	1.5540	0.0100	get 0.0100% / 8h	1h 04m	$271.3M	$366.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now +0.188%Rate

Funding earned: $20.85
Price spread: +0.188% → −0.030%: $21.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $18.57
Costs to cover: 0.240%
Break-even: 0.8 days

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 9 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 9 min ago	0.32 bp	7.0 bp −$7	10.2 bp −$102	15.7 bp −$1,572	22.3 bp −$11.1K

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	1.5511	+0.001%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5532	+0.135%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5516	+0.033%	$9.6M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0001% / S +0.0113%	1h	1.5511	long leg	$853K	—	200x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5511	+0.003%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.316%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5515	+0.025%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5514	+0.020%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5542	+0.198%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5544	+0.213%	$444K	$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
Nado XRP-PERP	+0.0100%	1h	1.5512	+0.008%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5538	+0.176%	$39.5M	$79.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	+0.165%	$640K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5536	+0.161%	$559.0M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5532	+0.136%	$346.3M	$904.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5530	+0.123%	$127.8M	$882.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5500	−0.070%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5514	+0.020%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.062%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5536	+0.162%	$372.1M	$143.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5533	+0.142%	$301.2M	$869.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5524	+0.082%	$113.2M	$161.0M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5540	+0.188%	$271.3M	$366.4M	125x
BingX XRP-USDC	+0.0100%	8h	1.5535	+0.155%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5512	+0.010%	$11.5M	$30.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5481	−0.194%	$672K	$102.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	+0.014%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5496	−0.096%	$1.0M	$885K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5514	+0.018%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5515	+0.026%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5512	+0.007%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5517	+0.039%	$835K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5517	+0.042%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5515	+0.026%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5502	−0.056%	$50.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5514	+0.020%	$55.2M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	+0.127%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5508	−0.019%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5528	+0.107%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5514	+0.017%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5515	+0.026%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5512	+0.004%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5522	+0.071%	$6.0M	$47.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5516	+0.033%	$24.5M	$73.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5494	−0.107%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5526	+0.097%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5525	+0.091%	$2.0M	$33.2M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5520	+0.059%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5523	+0.076%	$508K	$630K	10x	as long as short
Hyperliquid XRP	+0.0582%	1h	1.5557	+0.297%	$291.6M	$205.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0773%	1h	1.5518	+0.048%	$1K	$11K	10x	as long as short