Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Ondo Perps−0.048%7-day average +0.005% · you buy dearer than you sell

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−1.304%−$130 · spread now −0.048%, 7d avg +0.005%

Together, before fees−1.170%+ Points / potential airdropOndo Perps: Active · farm board−$117 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.054% cheaper against Ondo Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5302	0.0100	pay 0.0013% / 1h	20m 21s	$561K	$41K	5x
Short	HTX XRP-USDT	1.5295	0.0100	get 0.0100% / 8h	7h 20m	$49.9M	$14.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Ondo Perps. 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 Ondo PerpsbpFee HTXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.005%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.36
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	0.03 bp	8.3 bp −$8	11.1 bp −$111	33.4 bp −$3,338	doesn't fit

Ondo Perps: 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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5293	−0.059%	$14.8M	$73.4M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5287	−0.098%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.732%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5286	−0.104%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0007%	1h	1.5291	−0.074%	$1.1M	$160K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5300	−0.013%	$7.8M	$23.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.686%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5293	−0.059%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5283	−0.126%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5283	−0.122%	$2.8M	$14.6M	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	1.5296	−0.039%	$622K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5290	−0.078%	$20K	$379K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5295	−0.042%	$999K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5292	−0.062%	$38.7M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5292	−0.062%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5292	−0.063%	$533.1M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5291	−0.072%	$356.9M	$922.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5293	−0.059%	$126.7M	$842.7M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5302	long leg	$561K	$41K	5x
Arcus XRP-USD	+0.0100%	1h	1.5299	−0.020%	$144K	$701K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−1.049%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5290	−0.078%	$375.0M	$155.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5288	−0.091%	$316.4M	$924.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5288	−0.090%	$107.5M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5294	−0.052%	$270.7M	$372.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5290	−0.078%	—	$108.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.048%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5245	−0.370%	$662K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5273	−0.188%	$1.1M	$32.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.346%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5293	−0.060%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5286	−0.105%	$52K	$504K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5295	−0.046%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5296	−0.039%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.996%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5299	−0.022%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5293	−0.059%	$29K	$1.5M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5295	−0.048%	$49.9M	$14.1M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5293	−0.059%	$54.4M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5298	−0.029%	$477K	$53K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5290	−0.080%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5293	−0.058%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0131% / S −0.0092%	1h	1.5286	−0.106%	$782K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5296	−0.039%	$5.3M	$47.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5297	−0.033%	$1.7M	$33.1M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5296	−0.039%	$292.6M	$264.0M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5329	+0.176%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5313	+0.072%	$24.0M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5285	−0.110%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5298	−0.025%	$524K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0520%	1h	1.5237	−0.422%	$3K	$16K	10x	as long as short