Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.033%

Price spread now: edgeX against Hotstuff−0.039%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.039% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 17 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5157	−0.0080	get 0.0010% / 1h	12m 57s	$5K	$3K	20x
Short	edgeX XRPUSDC	1.5151	0.0100	get 0.0050% / 4h	12m 57s	$658K	$113.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hotstuff. 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 HotstuffbpFee edgeXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $37.8
Price spread: −0.039% → 0.000%: −$3.92
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $19.88
Costs to cover: 0.140%
Break-even: 3.3 days

Slippage unknown: Hotstuff: no order-book sample; edgeX: live order book, 1 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 Hotstuff no order-book sample	—	—	—	—	—
Sell edgeX live order book, 1 min ago	0.99 bp	5.5 bp −$5	5.7 bp −$57	9.2 bp −$919	doesn't fit

Hotstuff: 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-PERPlong	−0.0080%	1h	1.5157	long leg	$5K	$3K	20x
dYdX XRP-USD	0.0000%	1h	1.5169	+0.079%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5178	+0.138%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5183	+0.172%	$7.7M	$24.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.659%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5177	+0.130%	$14.5M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5179	+0.142%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5181	+0.158%	$605K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5165	+0.050%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5173	+0.106%	$20K	$384K	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	1.5170	+0.088%	$998K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5175	+0.119%	$38.5M	$86.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5172	+0.096%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5177	+0.132%	$529.4M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5174	+0.112%	$349.8M	$950.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5176	+0.125%	$127.3M	$864.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5145	−0.079%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5184	+0.178%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	+0.139%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	+0.106%	$377.8M	$162.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5175	+0.119%	$311.6M	$928.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5178	+0.137%	$106.6M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5177	+0.132%	$268.9M	$388.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5167	+0.066%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−0.058%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5151	−0.039%	$658K	$113.7M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5160	+0.022%	$1.1M	$34.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	−0.007%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5180	+0.149%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5181	+0.158%	$52K	$515K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5180	+0.152%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5180	+0.152%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5178	+0.139%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5185	+0.181%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5178	+0.139%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5180	+0.151%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5173	+0.106%	$54.1M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5174	+0.113%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5174	+0.111%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5184	+0.178%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5177	+0.132%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0107% / S −0.0070%	1h	1.5151	−0.037%	$773K	—	200x	as long as short
Hyperliquid XRP	+0.0141%	1h	1.5187	+0.198%	$290.0M	$268.2M	20x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5180	+0.152%	$1.8M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0174%	1h	1.5184	+0.178%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5184	+0.178%	$5.6M	$48.0M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5177	+0.132%	$23.6M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5176	+0.124%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5184	+0.175%	$522K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.152%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0591%	1h	1.5164	+0.048%	$2K	$16K	10x	as long as short