Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against HTX−0.124%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.611%+$61 · spread now −0.124%, 7d avg +0.044%

Together, before fees+0.613%+ Points / potential airdropNado: Active · farm board+$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.168% cheaper against HTX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5200	0.0100	pay 0.0100% / 8h	3h 32m	$50.1M	$13.8M	75x
Short	Nado XRP-PERP	1.5181	0.0100	get 0.0012% / 1h	32m 38s	$1.1M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.124%Rate

Funding earned: $0
Price spread: −0.124% → +0.044%: −$16.79
Slippage, 4 orders: −$9.21
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$45
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Nado: live order book, 2 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, 2 min ago	0.03 bp	10.7 bp −$11	15.0 bp −$150	34.3 bp −$3,434	118.0 bp −$59.0K
Sell Nado live order book, 2 min ago	0.33 bp	4.5 bp −$4	9.1 bp −$91	38.3 bp −$3,833	doesn't fit

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
GMX XRP/USD [ETH-USDC]	L −0.0207% / S +0.0293%	1h	1.5188	−0.078%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5197	−0.019%	$7K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0013%	1h	1.5187	−0.086%	$15.9M	$59.2M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5198	−0.010%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.197%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5189	−0.072%	$9.0M	$22.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5190	−0.066%	$257K	—	150x	as long as short
Orderly PERP_XRP_USDC	+0.0045%	8h	1.5182	−0.118%	$180K	$781K	50x	as long as short
Injective XRP/USDC PERP	+0.0050%	1h	1.5090	−0.723%	$2K	$51K	30x	as long as short
Vest XRP-PERP	+0.0070%	1h	1.5178	−0.143%	—	$9K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5198	−0.010%	$2.9M	$10.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5206	+0.040%	$571K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5198	−0.013%	$12K	$241K	20x	as long as short
Nado XRP-PERPshort	+0.0100%	1h	1.5181	−0.124%	$1.1M	$5.1M	20x
Aster XRPUSDT	+0.0100%	8h	1.5202	+0.013%	$38.6M	$69.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5200	−0.002%	$672K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5186	−0.088%	$539.3M	$1.78B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	−0.072%	$343.6M	$797.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5192	−0.052%	$124.2M	$807.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	−0.118%	$564K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5195	−0.032%	$114K	$622K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5186	−0.091%	$354.4M	$127.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5190	−0.065%	$309.9M	$771.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5200	+0.003%	$110.7M	$140.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5185	−0.098%	$263.4M	$327.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5188	−0.078%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5188	−0.080%	$7.4M	$22.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5167	−0.218%	$659K	$91.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5169	−0.204%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	−0.026%	$1.0M	$757K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5184	−0.105%	$49K	$460K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5186	−0.089%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5185	−0.099%	$818K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5191	−0.060%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5185	−0.098%	$30K	$1.8M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5200	long leg	$50.1M	$13.8M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5206	+0.040%	$54.6M	$27.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5194	−0.039%	$1.6M	$202K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5191	−0.056%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5186	−0.089%	$2.1M	$7.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5183	−0.112%	$73K	$37K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5195	−0.032%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5195	−0.032%	$5.3M	$40.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0186%	1h	1.5220	+0.132%	$1.7M	$891K	25x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5181	−0.126%	$1.3M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0213%	8h	1.5194	−0.039%	$1.7M	$31.7M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	+0.066%	$23.4M	$61.7M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5179	−0.140%	$19K	$43K	7x	as long as short
RISEx XRP/USDC	+0.0330%	1h	1.5197	−0.022%	$402K	$502K	10x	as long as short
Hyperliquid XRP	+0.0434%	1h	1.5221	+0.139%	$283.5M	$165.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0464%	1h	1.5181	−0.122%	$1K	$10K	10x	as long as short