Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.027%

Price spread now: Coinbase International against HTX+0.039%59s7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now +0.039%, 7d avg +0.072%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.033% cheaper against HTX than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.072%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day). The two prices were read 59 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	HTX XRP-USDT	1.5093	0.0100	pay 0.0100% / 8h	5h 54m	$49.4M	$15.4M	75x
Short	Coinbase International XRP-PERP-INTX	1.5099	0.0216	get 0.0027% / 1h	54m 19s	$5.6M	$46.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.039%Rate

Funding earned: $24.36
Price spread: +0.039% → +0.072%: −$3.25
Slippage, 4 orders: −$10.88
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$11.77
Costs to cover: 0.329%
Break-even: 10.4 days

Slippage from HTX: live order book, 5 min ago; Coinbase International: live order book, 5 min ago.

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 HTX live order book, 5 min ago	0.03 bp	10.1 bp −$10	14.2 bp −$142	32.6 bp −$3,260	118.6 bp −$59.3K
Sell Coinbase International live order book, 5 min ago	0.33 bp	8.5 bp −$9	12.4 bp −$124	25.5 bp −$2,550	doesn't fit

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	1.5089	−0.027%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5090	−0.018%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5130	+0.244%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5087	−0.038%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0025% / S +0.0051%	1h	1.5087	−0.043%	$797K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.093%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5097	+0.026%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5088	−0.034%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5090	−0.023%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5089	−0.027%	$507K	$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	+0.0100%	8h	1.5075	−0.120%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5088	−0.037%	$983K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5092	−0.007%	$278.8M	$219.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5090	−0.023%	$38.2M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5089	−0.027%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5091	−0.014%	$534.8M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5093	−0.001%	$341.0M	$924.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5102	+0.059%	$124.5M	$860.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5072	−0.140%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5092	−0.007%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5087	−0.044%	$1.6M	$161K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5088	−0.034%	$368.0M	$150.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5091	−0.014%	$291.9M	$891.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5086	−0.045%	$106.2M	$170.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5096	+0.019%	$266.1M	$379.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5091	−0.014%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	+0.331%	$6.1M	$35.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5088	−0.031%	$655K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5115	+0.145%	$1.1M	$35.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5094	+0.006%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5093	−0.001%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5084	−0.060%	$41K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5091	−0.015%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5098	+0.035%	$812K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5092	−0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5101	+0.052%	$29K	$1.7M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5093	long leg	$49.4M	$15.4M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5097	+0.026%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5089	−0.024%	$470K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5097	+0.025%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5098	+0.031%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0213%	1h	1.5108	+0.099%	$1.9M	$1.3M	25x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0214%	1h	1.5104	+0.072%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5086	−0.046%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0216%	1h	1.5099	+0.039%	$5.6M	$46.2M	50x
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5097	+0.026%	$14.4M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5139	+0.307%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5103	+0.066%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5092	−0.009%	$525K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0751%	1h	1.5112	+0.122%	$2K	$14K	10x	as long as short