Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: SunX against Ondo Perps+0.023%7-day average +0.063% · you sell dearer than you buy

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 3 days (all we have)−0.196%−$20 · spread now +0.023%, 7d avg +0.063%

Together, before fees−0.061%+ Points / potential airdropOndo Perps: Active · farm board−$6 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: SunX is 0.041% cheaper against Ondo Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5473	0.0100	pay 0.0013% / 1h	36m 23s	$576K	$42K	5x
Short	SunX XRP-USDT	1.5476	0.0100	get 0.0100% / 8h	36m 23s	$129K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.063%: −$4.08
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.08
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	16.31 bp	26.1 bp −$26	32.8 bp −$328	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5472	−0.006%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5474	+0.008%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5550	+0.498%	$69K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5475	+0.013%	$9.6M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5465	−0.055%	$259K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0007% / S +0.0102%	1h	1.5463	−0.065%	$851K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5473	+0.002%	$15.5M	$68.8M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5465	−0.052%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.562%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5473	0.000%	$3.0M	$12.6M	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	1.5475	+0.013%	$441K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5468	−0.029%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5465	−0.052%	$39.3M	$80.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5475	+0.013%	$637K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5466	−0.045%	$553.1M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5465	−0.052%	$346.3M	$919.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5469	−0.026%	$126.8M	$883.0M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5473	long leg	$576K	$42K	5x
Arcus XRP-USD	+0.0100%	1h	1.5478	+0.032%	$116K	$755K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5506	+0.213%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5466	−0.045%	$372.9M	$144.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5471	−0.013%	$300.5M	$875.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5470	−0.017%	$112.5M	$163.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5471	−0.013%	$269.9M	$372.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5466	−0.045%	—	$121.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5470	−0.021%	$11.5M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5495	+0.141%	$673K	$103.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5516	+0.280%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5499	+0.168%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5469	−0.027%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5468	−0.032%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5465	−0.052%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5467	−0.041%	$833K	$81K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5476	+0.023%	$129K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5472	−0.006%	$32K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5471	−0.015%	$50.8M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5473	0.000%	$55.0M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5471	−0.012%	$482K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5480	+0.045%	$12K	$267K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5468	−0.033%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5468	−0.036%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5479	+0.039%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5464	−0.059%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5477	+0.026%	$24.5M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5481	+0.052%	$5.9M	$47.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5479	+0.041%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0310%	1h	1.5479	+0.039%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5489	+0.103%	$2.0M	$34.1M	2.9x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5486	+0.081%	$294.3M	$209.9M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5485	+0.077%	$503K	$633K	10x	as long as short
Aftermath Perps XRPUSD	+0.0797%	1h	1.5518	+0.291%	$1K	$11K	10x	as long as short