Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0251%/8h= +27.4% APRpaid last 24h +0.021%

Price spread now: Backpack against Aster−0.007%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

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

costs, in and out, $10k−$210.205% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 7 days−0.570%−$57 · spread now −0.007%, 7d avg −0.069%

Together, before fees−0.445%+ Points / potential airdropAster: Stage 5 · farm board−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Backpack is 0.062% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.069%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.125% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5129	0.0100	pay 0.0100% / 8h	6h 32m	$38.5M	$84.4M	100x
Short	Backpack XRP_USDC_PERP	1.5128	0.0351	get 0.0044% / 1h	32m 56s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now −0.007%Rate

Funding earned: $52.62
Price spread: −0.007% → −0.069%: $6.15
Slippage, 4 orders: −$2.51
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $38.26
Costs to cover: 0.205%
Break-even: 1.9 days

Slippage from Aster: live order book, 6 min ago; Backpack: live order book, 1 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 Aster live order book, 6 min ago	0.66 bp	5.2 bp −$5	5.9 bp −$59	13.0 bp −$1,302	doesn't fit
Sell Backpack live order book, 1 min ago	0.33 bp	5.3 bp −$5	6.7 bp −$67	doesn't fit	doesn't fit

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	1.5157	+0.184%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5127	−0.016%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5100	−0.192%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5120	−0.063%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0061%	1h	1.5123	−0.043%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.848%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5121	−0.052%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0071%	8h	1.5128	−0.007%	$58K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5121	−0.053%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5122	−0.047%	$516K	$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	1.5117	−0.080%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5127	−0.015%	$828K	$5.9M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5129	long leg	$38.5M	$84.4M	100x
Pacifica XRP	+0.0100%	1h	1.5123	−0.043%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5148	+0.122%	$538.8M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5148	+0.125%	$340.8M	$941.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	+0.165%	$124.1M	$873.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5069	−0.397%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5126	−0.021%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.186%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5144	+0.098%	$367.1M	$151.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5145	+0.105%	$289.6M	$909.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5142	+0.082%	$106.9M	$171.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5139	+0.065%	$265.8M	$385.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5147	+0.118%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5126	−0.019%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5130	+0.009%	$657K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	+0.059%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	+0.118%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5135	+0.041%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5125	−0.027%	$44K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5129	−0.001%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5129	0.000%	$814K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5131	+0.014%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5127	−0.014%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5131	+0.011%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5121	−0.054%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5125	−0.024%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5138	+0.056%	$2.0M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5127	−0.014%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5125	−0.027%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5128	−0.007%	$7.7M	$25.3M	50x	as long as short
Hyperliquid XRP	+0.0211%	1h	1.5130	+0.006%	$280.3M	$222.3M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5122	−0.045%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5124	−0.034%	$5.7M	$46.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5149	+0.134%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0346%	8h	1.5136	+0.046%	$2.1M	$36.1M	2.9x	as long as short
Backpack XRP_USDC_PERPshort	+0.0351%	1h	1.5128	−0.007%	$1.9M	$1.3M	25x
RISEx XRP/USDC	+0.0456%	1h	1.5127	−0.015%	$536K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0794%	1h	1.5131	+0.010%	$2K	$14K	10x	as long as short