Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against Orderly−0.005%7-day average +0.003% · you buy dearer than you sell

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$8 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.005%, 7d avg +0.003%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5202	0.0099	pay 0.0099% / 8h	3h 43m	$62K	$934K	50x
Short	gTrade (Gains Network) XRP/USD	1.5201	L +0.0003% / S −0.0004%	get 0.0000% / 1h	43m 35s	$262K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Orderly. 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 OrderlybpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.005%Rate

Funding earned: −$20.07
Price spread: −0.005% → +0.003%: −$0.83
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$36.9
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 10 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) virtual book (oracle venue), 10 min ago	130.04 bp	135.0 bp −$135	193.2 bp −$1,932	1958.1 bp −$195.8K	doesn't fit

Orderly: 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	1.5204	+0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5203	+0.007%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5201	−0.005%	$262K	—	150x
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5206	+0.026%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.355%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0014%	1h	1.5202	−0.002%	$780K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5209	+0.046%	$7.8M	$25.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5211	+0.056%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5214	+0.079%	$499K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5206	+0.026%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDClong	+0.0099%	8h	1.5202	long leg	$62K	$934K	50x
Nado XRP-PERP	+0.0100%	1h	1.5208	+0.043%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5208	+0.040%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5208	+0.039%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5206	+0.025%	$534.2M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5206	+0.026%	$346.8M	$941.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5210	+0.053%	$127.2M	$887.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.059%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5210	+0.053%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.007%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5207	+0.033%	$371.5M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5206	+0.026%	$293.4M	$899.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5209	+0.048%	$109.1M	$176.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5205	+0.020%	$269.3M	$388.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5199	−0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	−0.001%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5212	+0.067%	$661K	$109.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	−0.007%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	−0.020%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5208	+0.037%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5210	+0.053%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5204	+0.015%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5205	+0.018%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5202	+0.002%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5206	+0.026%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5201	−0.005%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5203	+0.007%	$54.2M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5207	+0.031%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5202	+0.002%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5202	+0.001%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5209	+0.046%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5212	+0.066%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5207	+0.034%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5206	+0.026%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5202	0.000%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0288%	8h	1.5207	+0.033%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0295%	1h	1.5220	+0.118%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0314%	1h	1.5223	+0.138%	$292.9M	$234.7M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5209	+0.049%	$518K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.118%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0661%	1h	1.5212	+0.063%	$2K	$15K	10x	as long as short