Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.092%106s7-day average +0.007% · 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−$2812.814% of the position

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.092%, 7d avg +0.007%

Together, before fees+0.156%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.100% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.007%). If the spread goes back, that is −$10 on $10k: about 3.4 days of funding at the current rate (+$3 a day). The two prices were read 106 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	gTrade (Gains Network) XRP/USD	1.5244	L +0.0003% / S −0.0004%	pay 0.0000% / 1h	15m 33s	$247K	—	150x
Short	BingX XRP-USDT	1.5230	0.0100	get 0.0100% / 8h	1h 15m	—	$105.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.092%Rate

Funding earned: $20.3
Price spread: −0.092% → +0.007%: −$9.97
Slippage, 4 orders: −$261.36
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$271.02
Costs to cover: 2.814%
Break-even: 100.4 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 29 min ago; BingX: live order book, 9 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 gTrade (Gains Network) virtual book (oracle venue), 29 min ago	130.02 bp	135.0 bp −$135	208.0 bp −$2,080	1906.1 bp −$190.6K	9819.7 bp −$4.91M
Sell BingX live order book, 9 min ago	0.66 bp	5.7 bp −$6	5.7 bp −$57	7.7 bp −$772	15.1 bp −$7,532

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	1.5243	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	−0.072%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5260	+0.104%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USDlong	L +0.0003% / S −0.0004%	1h	1.5244	long leg	$247K	—	150x
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5244	−0.001%	$7.9M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5238	−0.041%	$14.5M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.072%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0089% / S −0.0042%	1h	1.5239	−0.036%	$786K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5235	−0.060%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5235	−0.060%	$548K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5221	−0.152%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5232	−0.076%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5226	−0.119%	$38.6M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5235	−0.060%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5224	−0.130%	$534.6M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5221	−0.152%	$349.2M	$965.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5225	−0.125%	$128.0M	$884.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5239	−0.033%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5231	−0.086%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5229	−0.099%	$378.0M	$161.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5233	−0.073%	$311.6M	$931.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5234	−0.065%	$107.9M	$182.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5222	−0.145%	$269.2M	$396.9M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5230	−0.092%	—	$105.8M	—
Variational Omni XRP	+0.0100%	8h	1.5233	−0.074%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5248	+0.027%	$664K	$114.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5240	−0.029%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5258	+0.091%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5245	+0.006%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5241	−0.020%	$65K	$508K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5241	−0.023%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5239	−0.033%	$76K	$685K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5247	+0.016%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5241	−0.020%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	−0.041%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5242	−0.014%	$54.6M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5206	−0.250%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5240	−0.030%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5220	−0.158%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5240	−0.026%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5228	−0.106%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0136%	1h	1.5247	+0.017%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5247	+0.019%	$5.7M	$48.5M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0188%	1h	1.5247	+0.019%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0215%	1h	1.5248	+0.026%	$290.7M	$265.6M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5249	+0.032%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5245	+0.006%	$23.7M	$78.4M	125x	as long as short
Kalshi KXXRPPERP	+0.0225%	8h	1.5245	+0.006%	$1.8M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5243	−0.005%	$529K	$806K	10x	as long as short
Aftermath Perps XRPUSD	+0.0657%	1h	1.5232	−0.078%	$2K	$16K	10x	as long as short