Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.009%

Price spread now: dYdX against edgeX−0.045%51s7-day average +0.038% · 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—prices read too far apart to compare

costs, in and out, $10k−$370.375% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days+0.189%+$19 · spread now −0.045%, 7d avg +0.038%

Together, before fees+0.149%+ Points / potential airdropedgeX: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.083% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.038%). Swap the legs. The two prices were read 51 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	edgeX XRPUSDC	1.5167	0.0100	pay 0.0050% / 4h	2h 03m	$659K	$114.1M	30x
Short	dYdX XRP-USD	1.5160	0	get 0.0000% / 1h	3m 59s	$1.1M	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against edgeX. 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 edgeXbpFee dYdXbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$21
Price spread: −0.045% → +0.038%: −$8.27
Slippage, 4 orders: −$18.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$66.75
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; dYdX: live order book, just now.

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 edgeX live order book, 5 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	8.5 bp −$849	doesn't fit
Sell dYdX live order book, just now	8.25 bp	13.3 bp −$13	13.3 bp −$133	19.2 bp −$1,920	255.6 bp −$127.8K

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	1.5166	−0.006%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5158	−0.060%	$14.4M	$74.9M	50x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5160	−0.045%	$1.1M	$148K	10x
Phoenix XRP	0.0000%	1h	1.5180	+0.087%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5159	−0.052%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.592%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0074% / S −0.0020%	1h	1.5160	−0.046%	$799K	—	200x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5163	−0.025%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5163	−0.025%	$7.7M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5157	−0.062%	$2.8M	$15.1M	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	1.5160	−0.045%	$547K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5152	−0.098%	$11K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5159	−0.048%	$1.0M	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5157	−0.068%	$38.5M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5163	−0.024%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5157	−0.066%	$526.9M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5156	−0.071%	$344.1M	$966.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	−0.065%	$126.4M	$890.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5159	−0.052%	$564K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5167	+0.001%	$143K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	−0.231%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5160	−0.045%	$374.6M	$162.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5160	−0.045%	$298.0M	$929.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5161	−0.037%	$107.2M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5154	−0.085%	$266.6M	$399.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5161	−0.039%	—	$106.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5166	−0.007%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5167	long leg	$659K	$114.1M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5163	−0.026%	$1.1M	$36.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5174	+0.047%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5164	−0.019%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5165	−0.012%	$51K	$487K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5161	−0.037%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5159	−0.052%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5160	−0.045%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5160	−0.045%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	−0.071%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5162	−0.029%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5158	−0.058%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5167	0.000%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5154	−0.083%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5157	−0.062%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0145%	1h	1.5173	+0.041%	$289.6M	$264.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0184%	1h	1.5164	−0.018%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5164	−0.019%	$5.7M	$48.6M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5169	+0.014%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0215%	8h	1.5171	+0.027%	$1.7M	$35.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5157	−0.065%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5159	−0.052%	$23.2M	$77.6M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5166	−0.009%	$518K	$790K	10x	as long as short
Aftermath Perps XRPUSD	+0.0573%	1h	1.5153	−0.094%	$2K	$16K	10x	as long as short