Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0151%/8h= +16.5% APRpaid last 24h +0.101%

Price spread now: BloFin against GMX−0.172%51s7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.290%+$29 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.172%, 7d avg −0.015%

Together, before fees+0.325%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.157% cheaper against GMX than usual: you would sell low and buy high (spread −0.172% now, against its 7-day average of −0.015%). If the spread goes back, that is −$16 on $10k: about 3.5 days of funding at the current rate (+$5 a day). 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	GMX XRP/USD [ETH-USDC]	1.5123	L +0.0069% / S −0.0013%	pay 0.0009% / 1h	48m 16s	$793K	—	200x
Short	BloFin XRP-USDT	1.5097	0.0220	get 0.0220% / 8h	2h 48m	$24.1M	$75.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.172%Rate

Funding earned: $31.63
Price spread: −0.172% → −0.015%: −$15.66
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8.03
Costs to cover: 0.240%
Break-even: 8.8 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 6 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	0.33 bp	6.3 bp −$6	8.2 bp −$82	13.5 bp −$1,352	24.4 bp −$12.2K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5108	−0.099%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5121	−0.013%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5104	−0.126%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	−0.020%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5125	+0.013%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5123	+0.002%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.890%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5127	+0.027%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0069% / S −0.0013%	1h	1.5123	long leg	$793K	—	200x
Lighter XRP	+0.0096%	1h	1.5121	−0.016%	$2.8M	$14.8M	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	1.5123	0.000%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5116	−0.046%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5122	−0.003%	$939K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5134	+0.073%	$291.0M	$258.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5122	−0.006%	$38.8M	$86.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5113	−0.065%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5119	−0.026%	$531.9M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5115	−0.053%	$342.2M	$950.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5117	−0.039%	$125.4M	$888.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5107	−0.106%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5128	+0.033%	$137K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.060%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5125	+0.013%	$372.5M	$155.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5120	−0.020%	$295.3M	$904.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	+0.017%	$107.9M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5122	−0.006%	$268.3M	$393.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5124	+0.007%	—	$105.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5128	+0.032%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.113%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5131	+0.052%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5124	+0.007%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5118	−0.034%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5128	+0.033%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5120	−0.020%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5123	0.000%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5122	−0.004%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5110	−0.089%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5121	−0.013%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5106	−0.111%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5118	−0.033%	$53.9M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5111	−0.076%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5116	−0.043%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5120	−0.019%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0146%	8h	1.5120	−0.020%	$1.8M	$35.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5125	+0.013%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0187%	1h	1.5111	−0.079%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5119	−0.025%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5097	−0.172%	$24.1M	$75.8M	125x
Hibachi XRP/USDT-P	+0.0240%	1h	1.5124	+0.006%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5128	+0.034%	$516K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0617%	1h	1.5124	+0.009%	$2K	$15K	10x	as long as short