Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Arcus−0.560%7-day average +0.028% · 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−$78as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Arcus Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.571%+$57 · spread now −0.560%, 7d avg +0.028%

Together, before fees+0.571%+$57 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: Bulk is 0.588% cheaper against Arcus than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5186	0.0100	pay 0.0013% / 1h	27m 07s	$115K	$700K	20x
Short	Bulk XRP-USD	1.5101	0.0100	get 0.0013% / 1h	27m 07s	$1.6M	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.560%Rate

Funding earned: $0
Price spread: −0.560% → +0.028%: −$58.82
Slippage, 4 orders: −$7.49
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$77.8
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Arcus: live order book, 42 min ago; Bulk: 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 Arcus live order book, 42 min ago	1.30 bp	5.0 bp −$5	11.0 bp −$110	doesn't fit	doesn't fit
Sell Bulk live order book, 2 min ago	0.99 bp	4.5 bp −$4	4.9 bp −$49	13.7 bp −$1,371	29.3 bp −$14.7K

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	1.5184	−0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	−0.057%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	−0.171%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5184	−0.013%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0060%	1h	1.5184	−0.015%	$804K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.463%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5184	−0.016%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5189	+0.020%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5185	−0.007%	$2.8M	$14.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	−0.013%	$517K	$3.3M	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	1.5173	−0.086%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5188	+0.015%	$890K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5189	+0.020%	$38.7M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5189	+0.019%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5186	+0.002%	$538.6M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5185	−0.007%	$342.5M	$939.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5187	+0.007%	$124.6M	$873.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.079%	$564K	$28K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5186	long leg	$115K	$700K	20x
Bulk XRP-USDshort	+0.0100%	1h	1.5101	−0.560%	$1.6M	$307K	20x
Gate XRP_USDT	+0.0100%	8h	1.5182	−0.026%	$369.5M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5176	−0.066%	$291.2M	$911.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5187	+0.005%	$107.2M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5183	−0.020%	$266.1M	$383.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5184	−0.013%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5152	−0.223%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.144%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5164	−0.145%	$1.1M	$38.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.046%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5187	+0.010%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5191	+0.033%	$44K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5189	+0.020%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5191	+0.032%	$817K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5187	+0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5184	−0.013%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	−0.002%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5178	−0.053%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.012%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5186	−0.003%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5185	−0.005%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5190	+0.026%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0211%	1h	1.5190	+0.026%	$7.7M	$25.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5188	+0.014%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5193	+0.046%	$5.7M	$46.8M	50x	as long as short
Hyperliquid XRP	+0.0219%	1h	1.5194	+0.053%	$281.1M	$223.4M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5174	−0.077%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0355%	8h	1.5191	+0.033%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0364%	1h	1.5194	+0.053%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5192	+0.039%	$538K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0757%	1h	1.5159	−0.179%	$2K	$14K	10x	as long as short