Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)−0.004%7-day average +0.027% · 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−$322as in the Price arb table

costs, in and out, $10k−$3193.193% of the position

Long on gTrade (Gains Network)Short on SunX

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)−0.065%−$7 · spread now −0.004%, 7d avg +0.027%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.031% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.027%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XRP/USD	1.5190	L +0.0003% / S −0.0004%	pay 0.0000% / 1h	8m 46s	$247K	—	150x
Short	SunX XRP-USDT	1.5189	0.0100	get 0.0100% / 8h	8m 46s	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $20.3
Price spread: −0.004% → +0.027%: −$3.12
Slippage, 4 orders: −$301.26
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$302.08
Costs to cover: 3.193%
Break-even: 111.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 30 min ago; SunX: live order book, 7 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), 30 min ago	130.05 bp	135.1 bp −$135	208.0 bp −$2,080	1906.1 bp −$190.6K	9819.7 bp −$4.91M
Sell SunX live order book, 7 min ago	17.62 bp	27.5 bp −$28	35.7 bp −$357	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	1.5187	−0.019%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	−0.031%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USDlong	L +0.0003% / S −0.0004%	1h	1.5190	long leg	$247K	—	150x
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5190	+0.001%	$7.7M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.436%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5187	−0.018%	$14.6M	$73.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5194	+0.025%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5190	−0.002%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5193	+0.020%	$605K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5179	−0.072%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5190	0.000%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5192	+0.012%	$38.6M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5191	+0.010%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5190	+0.001%	$529.9M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5187	−0.019%	$350.1M	$948.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5190	+0.001%	$127.4M	$863.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.118%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5191	+0.007%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	−0.078%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5187	−0.019%	$378.3M	$162.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5191	+0.007%	$310.0M	$929.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5188	−0.012%	$106.7M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5187	−0.019%	$269.0M	$388.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5188	−0.013%	—	$107.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.180%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.173%	$660K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5172	−0.118%	$1.1M	$34.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.144%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5193	+0.020%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5194	+0.027%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5191	+0.007%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5192	+0.014%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5189	−0.004%	$817K	$77K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5189	−0.004%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5187	−0.019%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5183	−0.047%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5190	+0.001%	$54.1M	$32.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5196	+0.038%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5185	−0.034%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5190	+0.001%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5188	−0.016%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0109% / S −0.0070%	1h	1.5190	+0.004%	$785K	—	200x	as long as short
Hyperliquid XRP	+0.0144%	1h	1.5200	+0.066%	$290.2M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0166%	8h	1.5190	+0.001%	$1.8M	$33.7M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5189	−0.006%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0179%	1h	1.5200	+0.066%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5184	−0.039%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5189	−0.008%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5190	0.000%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5170	−0.131%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0582%	1h	1.5176	−0.094%	$2K	$16K	10x	as long as short