Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: SunX against Hotstuff+0.221%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on SunX

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and SunX is 0.221% dearer against Hotstuff than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5108	−0.0080	get 0.0010% / 1h	49m 36s	$5K	$3K	20x
Short	SunX XRP-USDT	1.5141	0.0100	get 0.0100% / 8h	2h 49m	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.221%Rate

Funding earned: $37.8
Price spread: +0.221% → 0.000%: $22.11
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: $46.91
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; SunX: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	16.61 bp	25.7 bp −$26	32.6 bp −$326	doesn't fit	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	1.5108	long leg	$5K	$3K	20x
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5106	−0.015%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5114	+0.040%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	+0.079%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5114	+0.040%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5119	+0.075%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.992%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5111	+0.020%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5121	+0.089%	$794K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5112	+0.027%	$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	1.5115	+0.046%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5103	−0.033%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5109	+0.003%	$938K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5120	+0.079%	$290.7M	$258.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5106	−0.012%	$38.7M	$86.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5113	+0.033%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5107	−0.008%	$531.5M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5109	+0.007%	$342.2M	$950.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5110	+0.013%	$125.1M	$888.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5107	−0.007%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5114	+0.040%	$137K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	+0.039%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5109	+0.007%	$372.1M	$155.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5109	+0.007%	$295.9M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5110	+0.010%	$107.7M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5106	−0.013%	$268.2M	$392.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5105	−0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5128	+0.131%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.014%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5131	+0.151%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5124	+0.106%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5111	+0.018%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5111	+0.020%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5121	+0.084%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5116	+0.053%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5114	+0.041%	$813K	$72K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5141	+0.221%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5107	−0.007%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5115	+0.044%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5107	−0.007%	$53.8M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	+0.026%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5104	−0.025%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5110	+0.013%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0152%	8h	1.5136	+0.185%	$1.8M	$35.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5115	+0.046%	$5.7M	$48.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0202%	1h	1.5115	+0.046%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5105	−0.018%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5130	+0.146%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5124	+0.105%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5113	+0.033%	$515K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0624%	1h	1.5126	+0.117%	$2K	$15K	10x	as long as short