XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0090%/8h= −9.9% APRnext payment −$0.11 per $10,000 · paid last 24h +0.060%

Price spread now: Hyperliquid against Backpack−0.007%7-day average +0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days+0.456%+$46 · spread now −0.007%, 7d avg +0.102%

Together, before fees+0.519%+ Points / potential airdropHyperliquid: Season 2 · farm board+$52 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 Hyperliquid is 0.109% cheaper against Backpack than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.102%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.064%, 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	Backpack XRP_USDC_PERP	1.5236	0.0190	pay 0.0024% / 1h	20m 22s	$1.9M	$1.3M	25x
Short	Hyperliquid XRP	1.5235	0.0100	get 0.0013% / 1h	20m 22s	$282.7M	$221.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$18.98
Price spread: −0.007% → +0.102%: −$10.86
Slippage, 4 orders: −$1.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$50.16
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Hyperliquid: live order book, 4 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, 4 min ago	0.33 bp	5.3 bp −$5	6.7 bp −$67	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.33 bp	4.8 bp −$5	6.3 bp −$63	12.2 bp −$1,220	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	1.5231	−0.033%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5223	−0.086%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5220	−0.103%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5223	−0.085%	$7.7M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.127%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0036% / S +0.0040%	1h	1.5221	−0.097%	$822K	—	200x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5219	−0.112%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0076%	8h	1.5225	−0.072%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5221	−0.098%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5217	−0.125%	$514K	$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	1.5210	−0.171%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5231	−0.030%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRPshort	+0.0100%	1h	1.5235	−0.007%	$282.7M	$221.9M	20x
Aster XRPUSDT	+0.0100%	8h	1.5223	−0.085%	$38.6M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5231	−0.035%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5218	−0.121%	$539.1M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5224	−0.079%	$345.4M	$926.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5225	−0.072%	$126.7M	$871.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5226	−0.066%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5222	−0.092%	$115K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	−0.351%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5221	−0.098%	$370.9M	$152.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5222	−0.092%	$296.3M	$900.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5222	−0.092%	$109.3M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5226	−0.066%	$269.5M	$379.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5225	−0.072%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5221	−0.101%	$5.9M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.390%	$659K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5216	−0.129%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5212	−0.158%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5224	−0.079%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5222	−0.092%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5223	−0.086%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5224	−0.077%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5228	−0.053%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5220	−0.105%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5217	−0.122%	$49.8M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5217	−0.125%	$54.2M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5223	−0.088%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5219	−0.114%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5222	−0.093%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERPlong	+0.0190%	1h	1.5236	long leg	$1.9M	$1.3M	25x
Reya XRPRUSDPERP	+0.0215%	1h	1.5220	−0.107%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5231	−0.033%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5227	−0.059%	$24.4M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5225	−0.072%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5220	−0.107%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0350%	8h	1.5226	−0.066%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5224	−0.077%	$518K	$777K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5230	−0.039%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0673%	1h	1.5206	−0.197%	$2K	$14K	10x	as long as short