Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Bybit+0.161%52s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2822.817% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.161%, 7d avg −0.002%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.163% dearer against Bybit than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of −0.002%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.7 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5099	0.0100	pay 0.0100% / 8h	2h 47m	$341.8M	$950.4M	100x
Short	gTrade (Gains Network) XRP/USD	1.5123	L +0.0003% / S −0.0004%	get 0.0001% / 1h	47m 32s	$258K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.161%Rate

Funding earned: −$20.1
Price spread: +0.161% → −0.002%: $16.31
Slippage, 4 orders: −$260.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$285.5
Costs to cover: 2.817%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 2 min ago.

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 Bybit live order book, 2 min ago	0.33 bp	5.8 bp −$6	7.3 bp −$73	13.0 bp −$1,300	28.0 bp −$14.0K
Sell gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.02 bp	135.0 bp −$135	193.2 bp −$1,932	1958.1 bp −$195.8K	doesn't fit

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	1.5113	+0.093%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5121	+0.146%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5107	+0.051%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	+0.139%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5125	+0.172%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5123	+0.161%	$258K	—	150x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.053%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5104	+0.033%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5123	+0.159%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5116	+0.113%	$2.8M	$14.8M	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	1.5117	+0.119%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5097	−0.013%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5103	+0.030%	$938K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5125	+0.172%	$290.9M	$258.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5104	+0.036%	$38.7M	$86.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5110	+0.071%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5099	−0.002%	$531.2M	$2.18B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5099	long leg	$341.8M	$950.4M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5100	+0.007%	$125.2M	$887.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5111	+0.079%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5108	+0.060%	$137K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	+0.099%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5104	+0.033%	$372.0M	$155.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5103	+0.026%	$295.1M	$904.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5115	+0.109%	$107.8M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5100	+0.007%	$267.9M	$393.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5108	+0.060%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5128	+0.191%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5105	+0.042%	$656K	$111.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5131	+0.211%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5124	+0.166%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5103	+0.025%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5128	+0.192%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5120	+0.139%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5123	+0.159%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5122	+0.154%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5110	+0.070%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5121	+0.146%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5106	+0.048%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5118	+0.126%	$53.9M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5104	+0.030%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5099	+0.003%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5120	+0.140%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0146%	8h	1.5120	+0.139%	$1.8M	$35.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5125	+0.172%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0188%	1h	1.5127	+0.185%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5119	+0.134%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5097	−0.013%	$24.1M	$75.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5124	+0.165%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5107	+0.050%	$515K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0617%	1h	1.5124	+0.168%	$2K	$15K	10x	as long as short