Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h +0.043%

Price spread now: KuCoin against GMX+0.009%7-day average −0.006% · you sell dearer than you buy

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.009%, 7d avg −0.006%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.172%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5368	L +0.0285% / S −0.0235%	pay 0.0036% / 1h	7m 19s	$1.2M	—	200x
Short	KuCoin XRPUSDTM	1.5370	0.0100	get 0.0100% / 8h	4h 07m	$105.7M	$180.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$38.82
Price spread: +0.009% → −0.006%: $1.56
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$61.26
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	0.03 bp	7.8 bp −$8	11.9 bp −$119	doesn't fit	doesn't fit

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 exchanges

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	1.5387	+0.122%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5365	−0.019%	$13.8M	$67.4M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5390	+0.145%	$1.1M	$154K	10x	as long as short
Kalshi KXXRPPERP	0.0000%	8h	1.5382	+0.090%	$1.9M	$36.1M	2.9x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	+0.402%	$72K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5369	+0.005%	$7.7M	$19.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5370	+0.009%	$243K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.248%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5374	+0.038%	$9K	$987	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5366	−0.011%	$2.8M	$13.8M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5369	+0.005%	$572K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5368	−0.001%	$5.5M	$40.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5385	+0.109%	$480K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5371	+0.018%	$12K	$451K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5382	+0.093%	$838K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5380	+0.077%	$299.0M	$261.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5368	−0.004%	$38.9M	$79.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5386	+0.114%	$592K	$934K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5366	−0.014%	$537.2M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5367	−0.008%	$365.1M	$842.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5367	−0.008%	$125.1M	$820.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5375	+0.044%	$568K	$44K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5375	+0.044%	$159K	$633K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	+0.415%	$1.6M	$58K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	+0.005%	$373.7M	$161.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5370	+0.012%	$314.1M	$898.5M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5370	+0.009%	$105.7M	$180.9M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5364	−0.027%	$271.1M	$343.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5367	−0.008%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5420	+0.339%	$5.1M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5430	+0.399%	$670K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5429	+0.399%	$1.1M	$32.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5436	+0.441%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5382	+0.090%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5372	+0.025%	$51K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5370	+0.012%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5367	−0.008%	$83K	$570K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5367	−0.005%	$827K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5379	+0.068%	$129K	$1.4M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5397	+0.188%	$30K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5362	−0.039%	$50.0M	$12.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5370	+0.012%	$55.1M	$33.7M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5360	−0.055%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5361	−0.043%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5400	+0.204%	$17K	$67K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0179%	1h	1.5400	+0.207%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5365	−0.021%	$23.8M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0225%	1h	1.5363	−0.031%	$1.4M	$2K	15x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0285% / S −0.0235%	1h	1.5368	long leg	$1.2M	—	200x
RISEx XRP/USDC	+0.0300%	1h	1.5378	+0.066%	$508K	$684K	10x	as long as short
Aftermath Perps XRPUSD	+0.0401%	1h	1.5415	+0.306%	$3K	$13K	10x	as long as short