Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.003%

Price spread now: gTrade (Gains Network) against edgeX−0.600%68s7-day average +0.019% · you buy dearer than you sell

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−$2812.810% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.055%+$5 on $10k

Price spread, last 3 days (all we have)+0.692%+$69 · spread now −0.600%, 7d avg +0.019%

Together, before fees+0.747%+ Points / potential airdropedgeX: Active · farm board+$75 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 gTrade (Gains Network) is 0.618% cheaper against edgeX than usual: you would sell low and buy high (−$62 if the spread goes back to its 7-day average of +0.019%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.055%, so the current rate has only just turned against you. The two prices were read 68 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	1.5152	0.0100	pay 0.0050% / 4h	2h 39m	$658K	$108.0M	30x
Short	gTrade (Gains Network) XRP/USD	1.5062	L +0.0003% / S −0.0004%	get 0.0001% / 1h	39m 50s	$251K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.600%Rate

Funding earned: −$20.13
Price spread: −0.600% → +0.019%: −$61.85
Slippage, 4 orders: −$262.05
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$363.03
Costs to cover: 2.810%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 29 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 edgeX live order book, 4 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	9.3 bp −$934	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 29 min ago	130.04 bp	135.0 bp −$135	193.1 bp −$1,931	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	1.5060	−0.610%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5052	−0.665%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	−0.280%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5062	−0.600%	$251K	—	150x
GMX XRP/USD [ETH-USDC]	L +0.0024% / S +0.0064%	1h	1.5056	−0.637%	$825K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.690%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5095	−0.382%	$14.5M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0069%	8h	1.5079	−0.485%	$57K	$945K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5097	−0.369%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5097	−0.366%	$516K	$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	1.5060	−0.610%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5048	−0.686%	$794K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5091	−0.407%	$38.4M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5060	−0.607%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5098	−0.359%	$534.5M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5096	−0.373%	$336.5M	$942.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5098	−0.359%	$123.7M	$870.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5121	−0.208%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5067	−0.564%	$115K	$725K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.201%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5094	−0.386%	$366.3M	$150.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5095	−0.379%	$285.3M	$903.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5093	−0.394%	$106.8M	$171.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5097	−0.366%	$264.7M	$386.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5096	−0.373%	—	$127.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5098	−0.358%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5152	long leg	$658K	$108.0M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	−0.017%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.070%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5068	−0.557%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5059	−0.617%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5061	−0.605%	$40K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5085	−0.442%	$812K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5071	−0.537%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5090	−0.412%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5096	−0.370%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5096	−0.373%	$53.6M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5051	−0.668%	$469K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5092	−0.399%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5083	−0.460%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5062	−0.597%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0177%	1h	1.5099	−0.350%	$279.2M	$224.4M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5059	−0.619%	$1.3M	$7K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0214%	1h	1.5094	−0.386%	$7.6M	$25.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5100	−0.346%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.268%	$24.0M	$75.2M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0323%	1h	1.5098	−0.359%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5099	−0.355%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5069	−0.551%	$2.1M	$36.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5064	−0.585%	$533K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0822%	1h	1.5132	−0.136%	$2K	$14K	10x	as long as short