Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.045%

Price spread now: Hotstuff against Orderly−0.026%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Hotstuff is 0.026% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5253	0.0065	pay 0.0065% / 8h	7h 03m	$57K	$935K	50x
Short	Hotstuff XRP-PERP	1.5249	−0.0080	pay 0.0010% / 1h	3m 17s	$7K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$30.4
Price spread: −0.026% → 0.000%: −$2.62
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$44.03
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Hotstuff: 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 Hotstuff no order-book sample	—	—	—	—	—

Orderly and Hotstuff: 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-PERPshort	−0.0080%	1h	1.5249	−0.026%	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5260	+0.049%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5250	−0.022%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5256	+0.020%	$9.2M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5245	−0.052%	$836K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.013%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDClong	+0.0065%	8h	1.5253	long leg	$57K	$935K	50x
01 Exchange XRPUSD	+0.0072%	1h	1.5258	+0.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5247	−0.037%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5249	−0.026%	$511K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5261	+0.052%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5252	−0.004%	$476K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5252	−0.005%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5245	−0.053%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5257	+0.024%	$628K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5243	−0.066%	$538.5M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5247	−0.039%	$340.4M	$920.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5246	−0.046%	$123.2M	$864.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.249%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5251	−0.013%	$115K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.634%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5250	−0.020%	$366.8M	$153.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5245	−0.052%	$300.3M	$917.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5240	−0.082%	$110.3M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5255	+0.013%	$267.6M	$376.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5252	−0.007%	—	$125.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.404%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5348	+0.624%	$666K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.490%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.426%	$1.2M	$998K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5254	+0.007%	$46K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5250	−0.021%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5256	+0.022%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5263	+0.063%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5253	0.000%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5251	−0.013%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5240	−0.085%	$54.1M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5264	+0.072%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5255	+0.012%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5256	+0.020%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5250	−0.019%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.138%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5251	−0.013%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5246	−0.046%	$14.4M	$70.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5263	+0.066%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5315	+0.409%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5263	+0.066%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0364%	1h	1.5265	+0.079%	$287.6M	$215.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.505%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5254	+0.006%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0857%	1h	1.5325	+0.473%	$2K	$13K	10x	as long as short