Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.027%

Price spread now: SunX against Deribit+0.035%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now +0.035%, 7d avg −0.006%

Together, before fees−0.095%−$10 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 SunX is 0.041% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5216	0.0013	pay 0.0002% / 1h	1m 03s	$9.2M	$24.6M	50x
Short	SunX XRP-USDT	1.5221	0.0100	get 0.0100% / 8h	7h 01m	$128K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $18.27
Price spread: +0.035% → −0.006%: $4.13
Slippage, 4 orders: −$41.94
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$34.55
Costs to cover: 0.569%
Break-even: 20.2 days

Slippage from Deribit: live order book, 3 min ago; SunX: live order book, 5 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	0.98 bp	4.9 bp −$5	19.2 bp −$192	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	15.31 bp	25.1 bp −$25	31.5 bp −$315	doesn't fit	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	1.5246	+0.197%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	+0.185%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5215	−0.007%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0013%	1h	1.5216	long leg	$9.2M	$24.6M	50x
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0070%	1h	1.5213	−0.021%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.261%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5217	+0.007%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5234	+0.118%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5215	−0.005%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5219	+0.020%	$508K	$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	1.5227	+0.072%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5241	+0.163%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5221	+0.034%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5209	−0.045%	$38.4M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5251	+0.227%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	−0.092%	$536.1M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	−0.177%	$338.7M	$922.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5188	−0.184%	$122.3M	$862.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.007%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	+0.158%	$115K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.878%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5211	−0.033%	$366.8M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5214	−0.013%	$299.4M	$919.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5213	−0.022%	$110.2M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5210	−0.039%	$266.6M	$376.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5208	−0.053%	—	$125.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	−0.001%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.288%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.735%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.237%	$1.2M	$999K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5229	+0.085%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	+0.015%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5219	+0.018%	$819K	$74K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5221	+0.035%	$128K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5215	−0.007%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5210	−0.041%	$49.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5214	−0.013%	$54.0M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5230	+0.091%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5213	−0.023%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5213	−0.018%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5216	+0.001%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	−0.039%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5220	+0.026%	$5.7M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0246%	1h	1.5213	−0.020%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0303%	1h	1.5218	+0.013%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5252	+0.235%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5236	+0.131%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0355%	1h	1.5219	+0.020%	$286.0M	$216.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.158%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5236	+0.132%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0853%	1h	1.5298	+0.538%	$2K	$13K	10x	as long as short