Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: Bulk against Backpack+0.113%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 7 days+0.559%+$56 · spread now +0.113%, 7d avg +0.096%

Together, before fees+0.544%+$54 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5297	0.0100	pay 0.0013% / 1h	57m 32s	$1.7M	$926K	25x
Short	Bulk XRP-USD	1.5314	0.0100	get 0.0013% / 1h	57m 32s	$1.6M	$344K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.113%Rate

Funding earned: $0
Price spread: +0.113% → +0.096%: $1.64
Slippage, 4 orders: −$2.39
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$17.75
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 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 Backpack live order book, 2 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Bulk live order book, 2 min ago	0.65 bp	4.2 bp −$4	4.3 bp −$43	11.3 bp −$1,128	25.9 bp −$13.0K

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	1.5290	−0.047%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5302	+0.033%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5295	−0.013%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5340	+0.281%	$68K	$83K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5291	−0.039%	$9.3M	$23.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5289	−0.050%	$256K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.046%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5285	−0.078%	$182K	$783K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5298	+0.006%	$2.9M	$11.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5298	+0.007%	$444K	$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	1.5284	−0.088%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5290	−0.046%	$38.8M	$71.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5298	+0.005%	$674K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5294	−0.020%	$548.5M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5295	−0.013%	$346.5M	$829.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5291	−0.039%	$123.5M	$827.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5303	+0.039%	$570K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5293	−0.026%	$117K	$637K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5314	+0.113%	$1.6M	$344K	20x
Gate XRP_USDT	+0.0100%	8h	1.5287	−0.065%	$355.8M	$127.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5287	−0.065%	$303.9M	$781.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5287	−0.067%	$112.8M	$145.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5292	−0.033%	$266.4M	$336.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5288	−0.059%	—	$3.7M	—	as long as short
Backpack XRP_USDC_PERPlong	+0.0100%	1h	1.5297	long leg	$1.7M	$926K	25x
Variational Omni XRP	+0.0100%	8h	1.5361	+0.417%	$6.4M	$24.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5329	+0.212%	$666K	$93.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5313	+0.104%	$1.1M	$42.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5334	+0.242%	$1.0M	$823K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5293	−0.024%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5298	+0.007%	$51K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5292	−0.033%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5289	−0.052%	$823K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5295	−0.012%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5285	−0.078%	$33K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5284	−0.083%	$50.3M	$14.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5287	−0.065%	$54.6M	$28.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5286	−0.069%	$477K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5294	−0.020%	$11K	$232K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5289	−0.053%	$2.1M	$7.4M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5287	−0.065%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5300	+0.020%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5286	−0.073%	$15.3M	$62.6M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5296	−0.007%	$5.3M	$42.4M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5289	−0.053%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5322	+0.163%	$23.8M	$66.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0220%	8h	1.5311	+0.092%	$1.7M	$32.1M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5333	+0.233%	$19K	$54K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5300	+0.023%	$405K	$505K	10x	as long as short
Hyperliquid XRP	+0.0458%	1h	1.5308	+0.072%	$287.0M	$173.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0513%	1h	1.5325	+0.182%	$1K	$10K	10x	as long as short