Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.041%

Price spread now: SunX against Hibachi+0.049%7-day average — · you sell dearer than you buy

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

Long on Hibachi Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.049% dearer against Hibachi than usual: you sell high and buy low (spread +0.049% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XRP/USDT-P	1.5150	0.0272	pay 0.0034% / 1h	4m 16s	$17K	$82K	7x
Short	SunX XRP-USDT	1.5158	0.0100	get 0.0100% / 8h	3h 04m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Hibachi. 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 HibachibpFee SunXbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$36.12
Price spread: +0.049% → 0.000%: $4.91
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$48.21
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; SunX: live order book, 11 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 Hibachi no order-book sample	—	—	—	—	—
Sell SunX live order book, 11 min ago	16.61 bp	27.6 bp −$28	35.8 bp −$358	doesn't fit	doesn't fit

Hibachi: 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	1.5147	−0.022%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5147	−0.020%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	−0.058%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5147	−0.022%	$7.7M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5143	−0.048%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.704%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5142	−0.057%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5147	−0.021%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5148	−0.015%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5144	−0.041%	$10K	$355K	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	1.5151	+0.008%	$979K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5143	−0.047%	$39.0M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	+0.014%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5144	−0.041%	$533.5M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5147	−0.022%	$343.8M	$947.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5147	−0.022%	$125.2M	$886.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5150	−0.002%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5157	+0.044%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	−0.078%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5148	−0.015%	$373.5M	$158.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	−0.015%	$294.3M	$910.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5147	−0.024%	$109.2M	$178.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5147	−0.022%	$268.9M	$391.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5148	−0.015%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5147	−0.023%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.243%	$656K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	−0.002%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5138	−0.081%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5156	+0.038%	$49K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5143	−0.046%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5141	−0.061%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	−0.053%	$815K	$72K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5158	+0.049%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5143	−0.048%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5152	+0.009%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	−0.028%	$53.9M	$31.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5155	+0.031%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5152	+0.012%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5138	−0.082%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5140	−0.068%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5153	+0.018%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5148	−0.015%	$5.7M	$48.2M	50x	as long as short
Kalshi KXXRPPERP	+0.0184%	8h	1.5156	+0.038%	$1.8M	$35.4M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5148	−0.015%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5154	+0.025%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0235%	1h	1.5162	+0.077%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-Plong	+0.0272%	1h	1.5150	long leg	$17K	$82K	7x
RISEx XRP/USDC	+0.0358%	1h	1.5155	+0.033%	$517K	$777K	10x	as long as short
Hyperliquid XRP	+0.0368%	1h	1.5163	+0.084%	$290.9M	$255.9M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5150	−0.002%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0630%	1h	1.5149	−0.009%	$2K	$15K	10x	as long as short