Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.090%

Price spread now: Hyperliquid against MEXC+0.073%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$100.103% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.203%+$20 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.073%, 7d avg +0.044%

Together, before fees+0.175%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.028% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread 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	MEXC XRP_USDT	1.5160	0.0100	pay 0.0100% / 8h	7h 33m	$311.5M	$916.4M	300x
Short	Hyperliquid XRP	1.5171	0.0184	get 0.0023% / 1h	33m 18s	$289.7M	$267.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.073%Rate

Funding earned: $17.66
Price spread: +0.073% → +0.044%: $2.81
Slippage, 4 orders: −$1.32
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $10.15
Costs to cover: 0.103%
Break-even: 3.0 days

Slippage from MEXC: live order book, 1 min ago; Hyperliquid: live order book, 11 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 MEXC live order book, 1 min ago	0.33 bp	0.3 bp $0	0.3 bp −$3	4.5 bp −$452	26.7 bp −$13.3K
Sell Hyperliquid live order book, 11 min ago	0.33 bp	4.8 bp −$5	6.5 bp −$65	11.1 bp −$1,114	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5172	+0.076%	$14.7M	$74.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5155	−0.033%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5164	+0.028%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.066%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5198	+0.251%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5173	+0.086%	$7.7M	$23.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.639%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5197	+0.244%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5171	+0.070%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5162	+0.013%	$618K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5152	−0.053%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5156	−0.023%	$991K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5158	−0.016%	$38.4M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5158	−0.013%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5158	−0.013%	$528.4M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5159	−0.007%	$353.5M	$939.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5162	+0.013%	$126.3M	$849.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	+0.099%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5160	0.000%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.270%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5159	−0.007%	$373.7M	$153.2M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5160	long leg	$311.5M	$916.4M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5159	−0.007%	$105.9M	$183.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5166	+0.040%	$268.2M	$381.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5153	−0.046%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	+0.264%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	+0.251%	$660K	$112.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	+0.251%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5222	+0.409%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5172	+0.081%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5162	+0.013%	$52K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5163	+0.022%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5164	+0.026%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5208	+0.314%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5162	+0.013%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5167	+0.046%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5173	+0.086%	$49.5M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5173	+0.086%	$54.1M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5160	0.000%	$473K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5163	+0.017%	$2.1M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5167	+0.044%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5155	−0.033%	$8K	$2K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0118% / S −0.0084%	1h	1.5157	−0.020%	$786K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5168	+0.053%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5167	+0.046%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRPshort	+0.0184%	1h	1.5171	+0.073%	$289.7M	$267.6M	20x
BloFin XRP-USDT	+0.0220%	8h	1.5170	+0.066%	$23.7M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5186	+0.173%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0225%	1h	1.5202	+0.277%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5159	−0.008%	$519K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0555%	1h	1.5198	+0.252%	$2K	$16K	10x	as long as short