Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.025%

Price spread now: Deribit against Aster−0.010%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.311%−$31 · spread now −0.010%, 7d avg +0.016%

Together, before fees−0.168%+ Points / potential airdropAster: Stage 5 · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.026% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.016%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5141	0.0100	pay 0.0100% / 8h	4h 50m	$38.3M	$83.2M	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5140	0.0014	get 0.0002% / 1h	50m 54s	$7.7M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$18.06
Price spread: −0.010% → +0.016%: −$2.62
Slippage, 4 orders: −$2.72
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.41
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	0.33 bp	4.3 bp −$4	4.9 bp −$49	11.7 bp −$1,170	doesn't fit
Sell Deribit live order book, 3 min ago	0.33 bp	4.3 bp −$4	6.4 bp −$64	39.6 bp −$3,960	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	1.5140	−0.010%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5135	−0.041%	$14.3M	$73.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5133	−0.058%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.188%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5134	−0.049%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0014%	1h	1.5140	−0.010%	$7.7M	$25.5M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.764%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0037% / S +0.0033%	1h	1.5136	−0.036%	$787K	—	200x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5136	−0.036%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0078%	8h	1.5136	−0.036%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5139	−0.013%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5140	−0.010%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5126	−0.102%	$9K	$316K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5133	−0.053%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5148	+0.046%	$281.4M	$224.4M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5141	long leg	$38.3M	$83.2M	100x
Pacifica XRP	+0.0100%	1h	1.5136	−0.039%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5156	+0.096%	$533.9M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	+0.076%	$345.1M	$930.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	+0.102%	$125.8M	$873.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5144	+0.017%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5135	−0.043%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.150%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5140	−0.010%	$369.8M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5155	+0.089%	$296.2M	$893.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5154	+0.082%	$108.3M	$172.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5154	+0.083%	$267.9M	$382.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5148	+0.043%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5129	−0.083%	$5.4M	$37.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5155	+0.092%	$658K	$108.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	+0.135%	$1.1M	$35.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5157	+0.102%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5140	−0.011%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5136	−0.036%	$42K	$451K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5137	−0.030%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	−0.034%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5138	−0.025%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	−0.030%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5131	−0.067%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5138	−0.023%	$53.9M	$30.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5131	−0.066%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5151	+0.066%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5134	−0.046%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0155%	1h	1.5150	+0.056%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5160	+0.125%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5141	−0.003%	$5.6M	$47.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5134	−0.048%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	−0.023%	$24.2M	$75.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5138	−0.023%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5137	−0.028%	$515K	$780K	10x	as long as short
Aftermath Perps XRPUSD	+0.0675%	1h	1.5155	+0.088%	$2K	$14K	10x	as long as short