XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0053%/8h= +5.8% APRnext payment +$0.07 per $10,000 · paid last 24h +0.028%

Price spread now: Backpack against Arcus+0.087%7-day average +0.040% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Arcus Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.087%, 7d avg +0.040%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.047% dearer against Arcus than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5021	0.0100	pay 0.0013% / 1h	39m 44s	$136K	$716K	20x
Short	Backpack XRP_USDC_PERP	1.5034	0.0153	get 0.0019% / 1h	39m 44s	$2.0M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Arcus. 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 ArcusbpFee BackpackbpOrdersPrice spread, now +0.087%Rate

Funding earned: $11.14
Price spread: +0.087% → +0.040%: $4.66
Slippage, 4 orders: −$4.16
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$2.86
Costs to cover: 0.187%
Break-even: 8.8 days

Slippage from Arcus: live order book, 9 min ago; Backpack: live order book, 4 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 Arcus live order book, 9 min ago	0.99 bp	3.2 bp −$3	5.4 bp −$54	24.2 bp −$2,418	doesn't fit
Sell Backpack live order book, 4 min ago	0.33 bp	5.3 bp −$5	6.2 bp −$62	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5017	−0.027%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5019	−0.010%	$14.2M	$75.2M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5018	−0.019%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5050	+0.193%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5024	+0.023%	$257K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0016%	1h	1.5028	+0.047%	$7.6M	$25.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.588%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5021	−0.002%	$786K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5020	−0.007%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5020	−0.006%	$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	1.5021	0.000%	$494K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5011	−0.067%	$11K	$358K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5017	−0.023%	$893K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5030	+0.060%	$288.8M	$258.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5021	0.000%	$38.5M	$86.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5022	+0.008%	$602K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5017	−0.024%	$528.0M	$2.19B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5016	−0.033%	$340.8M	$956.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5015	−0.040%	$124.0M	$887.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5018	−0.020%	$560K	$31K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5021	long leg	$136K	$716K	20x
Bulk XRP-USD	+0.0100%	1h	1.5057	+0.239%	$1.6M	$30K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5021	0.000%	$370.9M	$156.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5016	−0.033%	$290.7M	$908.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5021	+0.001%	$106.2M	$179.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5014	−0.047%	$265.7M	$395.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5017	−0.027%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5042	+0.140%	$4.7M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5058	+0.249%	$654K	$111.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5078	+0.379%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5059	+0.253%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5026	+0.033%	$51K	$492K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5023	+0.011%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5025	+0.027%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5022	+0.005%	$808K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5025	+0.029%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5021	0.000%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5022	+0.004%	$49.1M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5025	+0.027%	$53.5M	$31.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5018	−0.020%	$468K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5026	+0.034%	—	$13K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5012	−0.062%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5023	+0.010%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0124%	8h	1.5029	+0.053%	$1.7M	$35.7M	2.9x	as long as short
Backpack XRP_USDC_PERPshort	+0.0153%	1h	1.5034	+0.087%	$2.0M	$1.4M	25x
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5031	+0.067%	$5.6M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5017	−0.030%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5036	+0.100%	$24.1M	$75.9M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5040	+0.129%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5019	−0.012%	$512K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0614%	1h	1.5072	+0.343%	$2K	$15K	10x	as long as short