Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0416%/8hnext payment +$0.52 per $10,000 · paid last 24h +0.112%

Price spread now: Coinbase International against GMX+0.018%7-day average −0.002% · you sell dearer than you buy

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

Long on GMX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.208%+$21 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now +0.018%, 7d avg −0.002%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.020% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5003	L −0.0208% / S +0.0294%	get 0.0026% / 1h	4m 55s	$1.6M	—	200x
Short	Coinbase International XRP-PERP-INTX	1.5006	0.0208	get 0.0026% / 1h	4m 55s	$5.1M	$39.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.018%Rate

Funding earned: $87.45
Price spread: +0.018% → −0.002%: $2.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $67.46
Costs to cover: 0.220%
Break-even: 1.6 days

Slippage unknown: GMX: no order-book sample; Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	0.33 bp	8.3 bp −$8	11.1 bp −$111	26.7 bp −$2,675	doesn't fit

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
GMX XRP/USD [ETH-USDC]long	L −0.0208% / S +0.0294%	1h	1.5003	long leg	$1.6M	—	200x
Hotstuff XRP-PERP	−0.0080%	1h	1.5009	+0.038%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5014	+0.073%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5006	+0.018%	$8.7M	$22.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5004	+0.003%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4990	−0.089%	$2K	$62K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.4993	−0.069%	$178K	$779K	50x	as long as short
Vest XRP-PERP	+0.0088%	1h	1.5002	−0.007%	—	$9K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5001	−0.014%	$2.9M	$10.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5004	+0.004%	$570K	$2.4M	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	+0.0100%	8h	1.5018	+0.098%	$12K	$249K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.4995	−0.052%	$1.0M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.4997	−0.042%	$38.2M	$68.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5013	+0.063%	$663K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5000	−0.022%	$528.1M	$1.75B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5004	+0.004%	$338.6M	$784.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5001	−0.016%	$124.8M	$788.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4998	−0.036%	$559K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5015	+0.078%	$111K	$613K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5015	+0.078%	$1.6M	$139K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.4996	−0.049%	$348.8M	$127.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5002	−0.009%	$308.9M	$770.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5002	−0.006%	$110.8M	$137.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5001	−0.016%	$258.6M	$320.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5002	−0.009%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5029	+0.174%	$6.7M	$21.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5058	+0.365%	$654K	$89.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5028	+0.164%	$1.1M	$40.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5032	+0.191%	$995K	$687K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5007	+0.024%	$60K	$432K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5000	−0.025%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.4999	−0.032%	$808K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5012	+0.061%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.4999	−0.029%	$36K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.4991	−0.084%	$49.4M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5002	−0.009%	$53.8M	$26.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5010	+0.045%	$468K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5000	−0.025%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5016	+0.084%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.4998	−0.035%	$72K	$39K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5021	+0.118%	$1.8M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0170%	1h	1.5009	+0.038%	$1.7M	$916K	25x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0208%	1h	1.5006	+0.018%	$5.1M	$39.8M	50x
Reya XRPRUSDPERP	+0.0209%	1h	1.4997	−0.045%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5000	−0.022%	$23.3M	$59.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5038	+0.233%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5002	−0.008%	$15.1M	$55.9M	50x	as long as short
Hyperliquid XRP	+0.0349%	1h	1.5013	+0.063%	$273.1M	$159.6M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5017	+0.090%	$407K	$489K	10x	as long as short
Aftermath Perps XRPUSD	+0.0451%	1h	1.5032	+0.190%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5050	+0.311%	$67K	$89K	15x	as long as short