Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.033%

Price spread now: edgeX against Hotstuff−0.222%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 edgeX

What this pair did over the last

the charts below follow

Funding, last 4 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 · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.222% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.222% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 4.1 days 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	1.5172	−0.0080	get 0.0010% / 1h	6m 41s	$5K	$3K	20x
Short	edgeX XRPUSDC	1.5138	0.0100	get 0.0050% / 4h	2h 06m	$657K	$113.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.222%Rate

Funding earned: $37.8
Price spread: −0.222% → 0.000%: −$22.23
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.57
Costs to cover: 0.140%
Break-even: 6.7 days

Slippage unknown: Hotstuff: no order-book sample; edgeX: live order book, 2 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 edgeX live order book, 2 min ago	0.99 bp	5.5 bp −$5	5.6 bp −$56	10.0 bp −$1,001	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	1.5172	long leg	$5K	$3K	20x
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5166	−0.039%	$14.4M	$74.9M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5160	−0.081%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5180	+0.053%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5171	−0.007%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.557%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0074% / S −0.0018%	1h	1.5170	−0.012%	$800K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5175	+0.020%	$7.7M	$25.5M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5174	+0.013%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5165	−0.048%	$2.8M	$15.1M	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	1.5167	−0.033%	$548K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5166	−0.040%	$11K	$362K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5169	−0.018%	$1.0M	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5162	−0.069%	$38.5M	$87.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5166	−0.039%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5164	−0.053%	$527.1M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5169	−0.020%	$345.0M	$966.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5171	−0.007%	$126.4M	$891.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5159	−0.086%	$564K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5175	+0.020%	$143K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	−0.265%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5163	−0.059%	$374.8M	$161.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5169	−0.020%	$298.7M	$928.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	−0.059%	$107.2M	$181.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5169	−0.020%	$266.6M	$399.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5169	−0.020%	—	$106.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	−0.192%	$4.6M	$38.4M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5138	−0.222%	$657K	$113.8M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5148	−0.158%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	−0.165%	$1.2M	$1.2M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5176	+0.026%	$51K	$488K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5171	−0.005%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5173	+0.007%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5174	+0.013%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	−0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5165	−0.046%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5174	+0.011%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5166	−0.040%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5176	+0.025%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5173	+0.007%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5155	−0.111%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5169	−0.022%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0144%	1h	1.5176	+0.026%	$289.6M	$264.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5173	+0.009%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5171	−0.007%	$5.7M	$48.6M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0209%	1h	1.5172	0.000%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5174	+0.013%	$1.7M	$35.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5169	−0.018%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5165	−0.046%	$23.2M	$77.5M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5175	+0.021%	$518K	$790K	10x	as long as short
Aftermath Perps XRPUSD	+0.0584%	1h	1.5140	−0.212%	$2K	$16K	10x	as long as short