Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.013%

Price spread now: Binance against Backpack−0.032%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$220.215% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 7 days+0.655%+$65 · spread now −0.032%, 7d avg +0.076%

Together, before fees+0.527%+$53 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: Binance is 0.108% cheaper against Backpack than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5198	0.0107	pay 0.0013% / 1h	38m 56s	$1.7M	$921K	25x
Short	Binance XRPUSDT	1.5193	0.0100	get 0.0100% / 8h	2h 38m	$543.1M	$1.84B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.032%Rate

Funding earned: −$1.44
Price spread: −0.032% → +0.076%: −$10.8
Slippage, 4 orders: −$1.52
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.75
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Backpack: live order book, just now; Binance: live order book, 5 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 Backpack live order book, just now	0.33 bp	5.3 bp −$5	6.2 bp −$62	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.33 bp	5.5 bp −$6	7.2 bp −$72	13.0 bp −$1,299	29.7 bp −$14.8K

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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5210	+0.078%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5253	+0.362%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5210	+0.079%	$1.1M	$100K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.474%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5196	−0.013%	$9.2M	$23.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	+0.088%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.605%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5208	+0.066%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5187	−0.075%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5188	−0.066%	$441K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5201	+0.017%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5193	−0.033%	$38.7M	$71.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5212	+0.093%	$662K	$1.0M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5193	−0.032%	$543.1M	$1.84B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5192	−0.039%	$340.6M	$833.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5189	−0.059%	$122.2M	$822.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5254	+0.368%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5209	+0.072%	$115K	$645K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5260	+0.411%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5191	−0.046%	$354.7M	$129.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5194	−0.026%	$290.5M	$798.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5192	−0.037%	$111.3M	$146.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5193	−0.033%	$264.4M	$337.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5195	−0.020%	—	$112.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5263	+0.425%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5261	+0.417%	$663K	$95.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5246	+0.319%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5264	+0.434%	$1.0M	$842K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5208	+0.066%	$52K	$460K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5210	+0.080%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5208	+0.063%	$819K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5213	+0.099%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5181	−0.112%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5184	−0.092%	$50.0M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5191	−0.046%	$54.3M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5206	+0.050%	$474K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5215	+0.115%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5214	+0.105%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5192	−0.040%	$2.1M	$7.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5209	+0.069%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERPlong	+0.0107%	1h	1.5198	long leg	$1.7M	$921K	25x
01 Exchange XRPUSD	+0.0152%	1h	1.5209	+0.072%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0172%	1h	1.5174	−0.159%	$15.3M	$63.0M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5185	−0.086%	$5.4M	$42.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5205	+0.046%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5195	−0.020%	$23.7M	$65.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0223%	8h	1.5203	+0.033%	$1.7M	$31.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5256	+0.380%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5213	+0.099%	$403K	$498K	10x	as long as short
Hyperliquid XRP	+0.0434%	1h	1.5209	+0.070%	$278.9M	$179.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0508%	1h	1.5238	+0.265%	$1K	$10K	10x	as long as short