Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.024%

Price spread now: Bitget against Backpack−0.026%7-day average +0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 7 days+0.479%+$48 · spread now −0.026%, 7d avg +0.077%

Together, before fees+0.386%+$39 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 Bitget is 0.104% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.077%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5241	0.0192	pay 0.0024% / 1h	18m 11s	$1.9M	$1.3M	25x
Short	Bitget XRPUSDT	1.5237	0.0100	get 0.0100% / 8h	5h 18m	$269.9M	$379.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$19.41
Price spread: −0.026% → +0.077%: −$10.36
Slippage, 4 orders: −$1.53
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$53.3
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Bitget: 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 Backpack live order book, 1 min ago	0.33 bp	5.3 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.33 bp	6.5 bp −$7	8.1 bp −$81	16.6 bp −$1,664	31.0 bp −$15.5K

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	1.5225	−0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5222	−0.122%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5216	−0.165%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5227	−0.092%	$7.7M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.093%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0038% / S +0.0040%	1h	1.5215	−0.168%	$828K	—	200x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5227	−0.092%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0076%	8h	1.5221	−0.131%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5234	−0.045%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5235	−0.039%	$515K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5213	−0.184%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5226	−0.095%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5247	+0.039%	$283.0M	$222.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5222	−0.125%	$38.6M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5227	−0.090%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5233	−0.052%	$539.3M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5230	−0.072%	$345.4M	$926.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5233	−0.052%	$126.7M	$872.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5226	−0.098%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	−0.092%	$115K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	−0.383%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5233	−0.052%	$371.2M	$152.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5233	−0.052%	$296.8M	$901.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5232	−0.062%	$109.4M	$171.4M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5237	−0.026%	$269.9M	$379.9M	125x
BingX XRP-USDT	+0.0100%	8h	1.5235	−0.039%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5221	−0.133%	$5.9M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5220	−0.136%	$661K	$108.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5216	−0.161%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5231	−0.066%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5222	−0.122%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5222	−0.125%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5220	−0.140%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5221	−0.133%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5226	−0.100%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5228	−0.085%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5233	−0.053%	$49.9M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5229	−0.079%	$54.3M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5228	−0.088%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5218	−0.154%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5223	−0.121%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERPlong	+0.0192%	1h	1.5241	long leg	$1.9M	$1.3M	25x
Reya XRPRUSDPERP	+0.0215%	1h	1.5217	−0.158%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5224	−0.112%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5220	−0.138%	$24.3M	$75.4M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5223	−0.115%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5229	−0.080%	$14.5M	$73.2M	50x	as long as short
Kalshi KXXRPPERP	+0.0349%	8h	1.5231	−0.066%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5228	−0.087%	$519K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5230	−0.072%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0661%	1h	1.5214	−0.177%	$2K	$14K	10x	as long as short