Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX−0.035%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now −0.035%, 7d avg −0.044%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5128	0	get 0.0000% / 1h	52m 12s	$1.1M	$110K	10x
Short	HTX XRP-USDT	1.5123	0.0100	get 0.0100% / 8h	5h 52m	$49.5M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $21
Price spread: −0.035% → −0.044%: $0.88
Slippage, 4 orders: −$40.88
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$41
Costs to cover: 0.629%
Break-even: 20.7 days

Slippage from dYdX: live order book, 2 min ago; HTX: live order book, 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 dYdX live order book, 2 min ago	16.90 bp	23.0 bp −$23	28.0 bp −$280	71.1 bp −$7,113	126.8 bp −$63.4K
Sell HTX live order book, 2 min ago	0.03 bp	10.5 bp −$11	14.5 bp −$145	33.4 bp −$3,338	doesn't fit

XRP on 50 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	1.5089	−0.261%	$5K	$3K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5128	long leg	$1.1M	$110K	10x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5119	−0.062%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0026% / S +0.0050%	1h	1.5122	−0.043%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.853%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5118	−0.069%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5126	−0.016%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5127	−0.012%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5127	−0.009%	$509K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5112	−0.109%	$9K	$305K	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5128	0.000%	$990K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5136	+0.048%	$279.6M	$220.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5127	−0.009%	$38.3M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5131	+0.017%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5126	−0.016%	$536.4M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5128	−0.003%	$342.0M	$924.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5129	+0.004%	$124.8M	$862.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5072	−0.373%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5131	+0.017%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5087	−0.277%	$1.6M	$161K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5124	−0.029%	$368.9M	$150.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5128	−0.003%	$293.2M	$891.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5125	−0.026%	$106.6M	$170.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5120	−0.056%	$266.4M	$379.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5116	−0.082%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	+0.096%	$6.1M	$35.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5094	−0.224%	$655K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5115	−0.089%	$1.1M	$35.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5094	−0.228%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5124	−0.032%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5127	−0.009%	$41K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5129	+0.004%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5123	−0.036%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5131	+0.017%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5126	−0.016%	$29K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5123	−0.035%	$49.5M	$15.4M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5128	−0.003%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5129	+0.003%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5120	−0.057%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5121	−0.051%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5128	−0.003%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5120	−0.055%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5130	+0.010%	$5.6M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0229%	1h	1.5133	+0.030%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5123	−0.035%	$14.5M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5118	−0.070%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5133	+0.030%	$2.1M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5129	+0.003%	$527K	$787K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5100	−0.188%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0723%	1h	1.5118	−0.068%	$2K	$14K	10x	as long as short