Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.084%

Price spread now: GMX against KuCoin−0.028%7-day average +0.011% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.028%, 7d avg +0.011%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GMX is 0.039% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XRPUSDTM	1.5177	0.0100	pay 0.0100% / 8h	6m 51s	$106.7M	$183.2M	75x
Short	GMX XRP/USD [ETH-USDC]	1.5172	L +0.0109% / S −0.0071%	get 0.0009% / 1h	6m 51s	$784K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$6.08
Price spread: −0.028% → +0.011%: −$3.89
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$33.97
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; GMX: no order-book sample. 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 KuCoin live order book, 2 min ago	0.03 bp	9.7 bp −$10	12.2 bp −$122	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	1.5178	+0.009%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5169	−0.053%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5179	+0.014%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5184	+0.048%	$7.7M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.526%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5182	+0.034%	$14.6M	$73.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5186	+0.059%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5182	+0.033%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	+0.048%	$605K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5180	+0.022%	$20K	$382K	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	1.5178	+0.012%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5174	−0.021%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5171	−0.040%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5174	−0.020%	$529.5M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5171	−0.038%	$349.7M	$948.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5171	−0.038%	$127.4M	$862.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.031%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5188	+0.074%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.081%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	−0.024%	$377.8M	$162.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5174	−0.018%	$310.0M	$929.9M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5177	long leg	$106.7M	$183.2M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5175	−0.011%	$268.9M	$388.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5172	−0.031%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.093%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.086%	$660K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5172	−0.031%	$1.1M	$34.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.057%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5185	+0.052%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5183	+0.042%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5176	−0.007%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5182	+0.035%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5185	+0.052%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5183	+0.043%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5179	+0.015%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	+0.012%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	+0.022%	$54.1M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5175	−0.010%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5169	−0.054%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5186	+0.061%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	+0.025%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0109% / S −0.0071%	1h	1.5172	−0.028%	$784K	—	200x
Hyperliquid XRP	+0.0143%	1h	1.5193	+0.107%	$290.0M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0165%	8h	1.5182	+0.035%	$1.8M	$33.7M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5186	+0.061%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0180%	1h	1.5190	+0.088%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	+0.015%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5172	−0.032%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5187	+0.071%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5170	−0.044%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0574%	1h	1.5177	+0.005%	$2K	$16K	10x	as long as short