Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.075%

Price spread now: GMX against Orderly−0.020%7-day average +0.029% · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.235%−$23 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.020%, 7d avg +0.029%

Together, before fees−0.135%−$13 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 0.049% cheaper against Orderly than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5168	0.0100	pay 0.0100% / 8h	3m 49s	$77K	$689K	50x
Short	GMX XRP/USD [ETH-USDC]	1.5165	L +0.0110% / S −0.0072%	get 0.0009% / 1h	3m 49s	$783K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$5.81
Price spread: −0.020% → +0.029%: −$4.95
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$28.76
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	1.5189	+0.138%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5168	−0.001%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5165	−0.020%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5174	+0.040%	$7.7M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.584%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5167	−0.006%	$14.6M	$73.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5186	+0.119%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5166	−0.010%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5170	+0.013%	$604K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5167	−0.007%	$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	1.5164	−0.023%	$998K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5164	−0.026%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5172	+0.028%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5165	−0.019%	$529.2M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5162	−0.040%	$349.9M	$947.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5164	−0.026%	$127.5M	$862.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	+0.026%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5176	+0.053%	$143K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.138%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5163	−0.033%	$377.6M	$163.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5165	−0.020%	$309.7M	$930.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5164	−0.028%	$106.6M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5163	−0.033%	$268.8M	$388.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5166	−0.013%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5165	−0.017%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5174	+0.039%	$659K	$113.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5174	+0.040%	$1.1M	$33.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	+0.092%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5176	+0.051%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5169	+0.007%	$52K	$515K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5167	−0.006%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDClong	+0.0100%	8h	1.5168	long leg	$77K	$689K	50x
Derive XRP-PERP	+0.0100%	1h	1.5185	+0.109%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5169	+0.009%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5165	−0.020%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5169	+0.007%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5167	−0.007%	$54.1M	$32.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5172	+0.024%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5160	−0.054%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5175	+0.046%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5166	−0.015%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0110% / S −0.0072%	1h	1.5165	−0.020%	$783K	—	200x
Hyperliquid XRP	+0.0143%	1h	1.5179	+0.072%	$289.8M	$268.2M	20x	as long as short
Kalshi KXXRPPERP	+0.0163%	8h	1.5174	+0.040%	$1.8M	$33.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5173	+0.033%	$5.6M	$47.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0181%	1h	1.5176	+0.053%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5184	+0.105%	$23.6M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5163	−0.035%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5174	+0.040%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5190	+0.145%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0575%	1h	1.5175	+0.048%	$2K	$16K	10x	as long as short