Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.045%

Price spread now: Hotstuff against Orderly−0.026%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Hotstuff

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 against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.026% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5183	0.0077	pay 0.0077% / 8h	5h 08m	$62K	$935K	50x
Short	Hotstuff XRP-PERP	1.5179	−0.0080	pay 0.0010% / 1h	8m 08s	$5K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Orderly. 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 OrderlybpFee HotstuffbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$32.93
Price spread: −0.026% → 0.000%: −$2.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$46.57
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Hotstuff: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Orderly and 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-PERPshort	−0.0080%	1h	1.5179	−0.026%	$5K	$3K	20x
dYdX XRP-USD	0.0000%	1h	1.5184	+0.007%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5183	0.000%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	−0.013%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0037%	1h	1.5179	−0.029%	$833K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.483%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5178	−0.033%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDClong	+0.0077%	8h	1.5183	long leg	$62K	$935K	50x
Lighter XRP	+0.0096%	1h	1.5182	−0.010%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	+0.007%	$512K	$3.3M	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	1.5174	−0.059%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5175	−0.049%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5188	+0.033%	$282.2M	$223.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5180	−0.021%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5185	+0.011%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5176	−0.046%	$535.8M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5175	−0.053%	$346.0M	$930.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5176	−0.046%	$125.8M	$872.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5180	−0.020%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5184	+0.007%	$114K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.263%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5177	−0.040%	$368.7M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5181	−0.013%	$298.8M	$904.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5183	−0.003%	$108.7M	$171.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5175	−0.053%	$269.4M	$381.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5180	−0.020%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	+0.109%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	+0.124%	$660K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5227	+0.290%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5221	+0.250%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5181	−0.015%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5180	−0.020%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	−0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5182	−0.005%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	+0.046%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5180	−0.020%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5179	−0.027%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	−0.020%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5190	+0.047%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	−0.043%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	−0.016%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5188	+0.033%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5207	+0.155%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5176	−0.047%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5189	+0.040%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5191	+0.053%	$24.3M	$75.5M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5180	−0.021%	$14.4M	$73.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0344%	8h	1.5186	+0.020%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5182	−0.004%	$517K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.244%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0659%	1h	1.5205	+0.148%	$2K	$14K	10x	as long as short