Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.024%

Price spread now: HTX against Deribit−0.014%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.014%, 7d avg −0.067%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.053% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5155	0.0014	pay 0.0002% / 1h	6m 05s	$7.7M	$25.6M	50x
Short	HTX XRP-USDT	1.5153	0.0100	get 0.0100% / 8h	3h 06m	$49.5M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $18.06
Price spread: −0.014% → −0.067%: $5.28
Slippage, 4 orders: −$9.51
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$5.17
Costs to cover: 0.285%
Break-even: 9.0 days

Slippage from Deribit: live order book, 3 min ago; HTX: live order book, 3 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 Deribit live order book, 3 min ago	2.32 bp	5.8 bp −$6	8.4 bp −$84	54.6 bp −$5,460	doesn't fit
Sell HTX live order book, 3 min ago	0.03 bp	10.2 bp −$10	14.1 bp −$141	36.5 bp −$3,653	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	1.5133	−0.145%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5147	−0.051%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5149	−0.043%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0014%	1h	1.5155	long leg	$7.7M	$25.6M	50x
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5152	−0.021%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.672%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5149	−0.043%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5154	−0.006%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5156	+0.007%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5141	−0.092%	$10K	$355K	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	1.5149	−0.043%	$979K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5150	−0.033%	$39.0M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	0.000%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	−0.020%	$533.8M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5154	−0.007%	$343.9M	$947.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	−0.007%	$125.3M	$886.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5145	−0.066%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	−0.007%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	−0.110%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5154	−0.007%	$373.6M	$158.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5152	−0.020%	$294.2M	$910.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5154	−0.004%	$109.2M	$178.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5153	−0.013%	$269.0M	$391.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	−0.013%	—	$128.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5147	−0.054%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.274%	$656K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5106	−0.323%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5119	−0.238%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5148	−0.044%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5155	0.000%	$49K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	−0.040%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5148	−0.046%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	−0.039%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5154	−0.003%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5150	−0.033%	$28K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5153	−0.014%	$49.5M	$15.7M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5154	−0.007%	$53.9M	$31.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5151	−0.025%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5149	−0.042%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5148	−0.048%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5149	−0.040%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0179%	8h	1.5158	+0.020%	$1.8M	$35.3M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5157	+0.013%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5150	−0.033%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5139	−0.106%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0236%	1h	1.5162	+0.046%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5132	−0.150%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5153	−0.012%	$517K	$777K	10x	as long as short
Hyperliquid XRP	+0.0376%	1h	1.5165	+0.066%	$290.9M	$255.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5110	−0.297%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0635%	1h	1.5143	−0.080%	$2K	$15K	10x	as long as short