Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Aster against Hotstuff−0.034%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · Aster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.034% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5398	−0.0080	get 0.0010% / 1h	4m 02s	$7K	$2K	20x
Short	Aster XRPUSDT	1.5393	0.0100	get 0.0100% / 8h	2h 04m	$39.2M	$73.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hotstuff. 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 HotstuffbpFee AsterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $37.8
Price spread: −0.034% → 0.000%: −$3.42
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: $21.38
Costs to cover: 0.130%
Break-even: 3.0 days

Slippage unknown: Hotstuff: no order-book sample; Aster: live order book, 5 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	0.65 bp	4.6 bp −$5	5.2 bp −$52	12.6 bp −$1,256	doesn't fit

Hotstuff: 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-PERPlong	−0.0080%	1h	1.5398	long leg	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5391	−0.048%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.338%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5391	−0.044%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5397	−0.006%	$9.4M	$24.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.701%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5395	−0.019%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0076% / S +0.0164%	1h	1.5390	−0.051%	$906K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5395	−0.019%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5397	−0.006%	$445K	$3.1M	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	1.5391	−0.042%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5393	−0.034%	$39.2M	$73.3M	100x
Pacifica XRP	+0.0100%	1h	1.5390	−0.051%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5396	−0.014%	$553.9M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5403	+0.032%	$346.6M	$853.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5413	+0.097%	$125.4M	$848.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	+0.071%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5393	−0.032%	$120K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.478%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5391	−0.045%	$367.2M	$134.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5392	−0.039%	$287.0M	$825.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5393	−0.034%	$112.0M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5392	−0.039%	$266.9M	$347.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5392	−0.039%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5410	+0.077%	$6.6M	$24.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.293%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	+0.042%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5410	+0.078%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5392	−0.038%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5396	−0.013%	$51K	$438K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5394	−0.027%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5392	−0.041%	$829K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5398	+0.001%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5393	−0.032%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5389	−0.059%	$50.6M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5393	−0.032%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5391	−0.045%	$480K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5398	0.000%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5391	−0.047%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5393	−0.036%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5400	+0.013%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5393	−0.034%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5401	+0.019%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5401	+0.019%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5392	−0.039%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5396	−0.013%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5414	+0.104%	$1.8M	$31.9M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5387	−0.070%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5395	−0.016%	$404K	$498K	10x	as long as short
Hyperliquid XRP	+0.0514%	1h	1.5411	+0.084%	$283.8M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5417	+0.120%	$1K	$11K	10x	as long as short