Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.044%

Price spread now: Aster against Hibachi−0.047%7-day average — · you buy dearer than you sell

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

Long on Hibachi Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.303%−$30 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.047% cheaper against Hibachi than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XRP/USDT-P	1.5239	0.0136	pay 0.0017% / 1h	15m 14s	$17K	$79K	7x
Short	Aster XRPUSDT	1.5232	0.0100	get 0.0100% / 8h	1h 15m	$38.7M	$87.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hibachi. 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 HibachibpFee AsterbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$7.56
Price spread: −0.047% → 0.000%: −$4.7
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$29.26
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Aster: live order book, 4 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 Hibachi no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	0.66 bp	4.7 bp −$5	5.2 bp −$52	13.5 bp −$1,350	doesn't fit

Hibachi: 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 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	+0.027%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	−0.038%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5260	+0.139%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5223	−0.104%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5233	−0.037%	$14.5M	$75.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.107%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0078%	1h	1.5237	−0.012%	$7.9M	$24.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0089% / S −0.0042%	1h	1.5223	−0.106%	$786K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5235	−0.026%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5236	−0.019%	$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	−0.117%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5232	−0.042%	$994K	$6.4M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5232	−0.047%	$38.7M	$87.9M	100x
Pacifica XRP	+0.0100%	1h	1.5235	−0.025%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5232	−0.045%	$534.9M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5233	−0.038%	$349.4M	$965.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5237	−0.012%	$127.9M	$885.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5239	+0.001%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5231	−0.052%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5222	−0.111%	$377.7M	$161.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5236	−0.019%	$311.6M	$931.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5234	−0.031%	$107.9M	$182.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	−0.032%	$269.4M	$397.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5229	−0.065%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5233	−0.040%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5248	+0.061%	$664K	$114.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5240	+0.005%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5258	+0.126%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5233	−0.037%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5226	−0.084%	$64K	$508K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5233	−0.040%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5231	−0.052%	$75K	$695K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5238	−0.002%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5234	−0.032%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	−0.007%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5233	−0.038%	$54.6M	$32.6M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5206	−0.216%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5240	+0.004%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5228	−0.071%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5231	−0.051%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5228	−0.071%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-Plong	+0.0136%	1h	1.5239	long leg	$17K	$79K	7x
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5231	−0.052%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0188%	1h	1.5247	+0.053%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0214%	1h	1.5239	+0.001%	$290.2M	$265.9M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5222	−0.110%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5234	−0.032%	$23.6M	$78.3M	125x	as long as short
Kalshi KXXRPPERP	+0.0225%	8h	1.5242	+0.021%	$1.8M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5228	−0.069%	$529K	$806K	10x	as long as short
Aftermath Perps XRPUSD	+0.0664%	1h	1.5235	−0.027%	$2K	$16K	10x	as long as short