XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.009%

Price spread now: Coinbase International against Backpack−0.046%52s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.256% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.139%−$14 · spread now −0.046%, 7d avg −0.015%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.031% cheaper against Backpack than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of −0.015%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5214	0.0100	pay 0.0013% / 1h	46m 15s	$1.7M	$920K	25x
Short	Coinbase International XRP-PERP-INTX	1.5207	0.0192	get 0.0024% / 1h	46m 15s	$5.3M	$42.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.046%Rate

Funding earned: $19.32
Price spread: −0.046% → −0.015%: −$3.1
Slippage, 4 orders: −$5.57
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$9.35
Costs to cover: 0.256%
Break-even: 10.4 days

Slippage from Backpack: live order book, 3 min ago; Coinbase International: 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 Backpack live order book, 3 min ago	0.33 bp	5.3 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.99 bp	7.6 bp −$8	10.7 bp −$107	26.1 bp −$2,610	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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5200	−0.090%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5202	−0.079%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5199	−0.099%	$1.1M	$100K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5290	+0.500%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5202	−0.079%	$9.3M	$23.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5201	−0.085%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.500%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5194	−0.131%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5199	−0.095%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5204	−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	1.5197	−0.108%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5197	−0.113%	$38.6M	$71.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5199	−0.100%	$662K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5203	−0.072%	$543.5M	$1.83B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5204	−0.066%	$339.4M	$830.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5202	−0.079%	$122.5M	$821.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	+0.007%	$566K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5202	−0.079%	$115K	$645K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5198	−0.105%	$353.8M	$128.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5202	−0.079%	$293.4M	$792.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5195	−0.127%	$111.1M	$145.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5196	−0.118%	$264.1M	$336.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5200	−0.092%	—	$112.7M	—	as long as short
Backpack XRP_USDC_PERPlong	+0.0100%	1h	1.5214	long leg	$1.7M	$920K	25x
Variational Omni XRP	+0.0100%	8h	1.5293	+0.516%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5215	+0.008%	$661K	$94.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5187	−0.180%	$1.1M	$41.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5294	+0.526%	$1.0M	$823K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5196	−0.121%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5194	−0.131%	$51K	$457K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5198	−0.105%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5197	−0.112%	$818K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5200	−0.091%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5198	−0.105%	$28K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5189	−0.167%	$50.0M	$14.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5204	−0.066%	$54.3M	$28.1M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5279	+0.427%	$1.6M	$350K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	−0.104%	$474K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5193	−0.138%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5195	−0.124%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	−0.106%	$71K	$40K	3x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5199	−0.098%	$15.1M	$62.7M	50x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5202	−0.079%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0192%	1h	1.5207	−0.046%	$5.3M	$42.4M	50x
Kalshi KXXRPPERP	+0.0204%	8h	1.5212	−0.013%	$1.7M	$31.8M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5192	−0.145%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	−0.033%	$24.0M	$65.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5211	−0.021%	$19K	$55K	7x	as long as short
Hyperliquid XRP	+0.0414%	1h	1.5209	−0.033%	$278.2M	$178.0M	20x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5207	−0.047%	$402K	$503K	10x	as long as short
Aftermath Perps XRPUSD	+0.0546%	1h	1.5245	+0.204%	$1K	$10K	10x	as long as short