XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0209%/8h= −22.9% APRnext payment −$0.26 per $10,000 · paid last 24h −0.019%

Price spread now: Nado against Backpack+0.016%7-day average +0.115% · 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−$29as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days+0.840%+$84 · spread now +0.016%, 7d avg +0.115%

Together, before fees+0.818%+ Points / potential airdropNado: Active · farm board+$82 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Nado is 0.098% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.115%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.022% in total (about -2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5364	0.0309	pay 0.0039% / 1h	13m 02s	$1.9M	$1.3M	25x
Short	Nado XRP-PERP	1.5366	0.0100	get 0.0012% / 1h	13m 02s	$1.0M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.016%Rate

Funding earned: −$43.82
Price spread: +0.016% → +0.115%: −$9.83
Slippage, 4 orders: −$1.9
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$72.56
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Nado: 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	0.32 bp	5.3 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.32 bp	4.1 bp −$4	9.2 bp −$92	43.4 bp −$4,339	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	1.5375	+0.072%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5368	+0.023%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	−0.020%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0017% / S +0.0074%	1h	1.5358	−0.042%	$843K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.276%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5362	−0.013%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5357	−0.046%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5364	0.000%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5359	−0.031%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5361	−0.020%	$515K	$3.2M	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	1.5357	−0.046%	$9K	$280K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.056%	$479K	$55K	50x	as long as short
Nado XRP-PERPshort	+0.0100%	1h	1.5366	+0.016%	$1.0M	$5.5M	20x
Aster XRPUSDT	+0.0100%	8h	1.5363	−0.009%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5374	+0.066%	$635K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5356	−0.052%	$542.5M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5356	−0.052%	$342.2M	$919.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5357	−0.046%	$124.7M	$867.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5317	−0.306%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5374	+0.065%	$118K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.583%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5353	−0.072%	$374.7M	$151.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5359	−0.033%	$305.9M	$912.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5360	−0.023%	$111.2M	$166.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5357	−0.046%	$269.5M	$375.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5352	−0.078%	—	$124.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5332	−0.207%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5358	−0.039%	$668K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5366	+0.012%	$1.1M	$37.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5374	+0.065%	$1.2M	$997K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5371	+0.046%	$48K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5361	−0.018%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	+0.015%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5371	+0.047%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5359	−0.033%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5359	−0.032%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5359	−0.033%	$54.6M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5367	+0.022%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5354	−0.065%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5362	−0.012%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5362	−0.011%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5366	+0.013%	$24.1M	$74.1M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5367	+0.020%	$5.7M	$46.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5357	−0.045%	$14.5M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERPlong	+0.0309%	1h	1.5364	long leg	$1.9M	$1.3M	25x
Hibachi XRP/USDT-P	+0.0312%	1h	1.5358	−0.036%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5385	+0.137%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0383%	1h	1.5364	0.000%	$289.6M	$215.2M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	−0.286%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0823%	1h	1.5356	−0.052%	$2K	$13K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5369	+0.030%	$544K	$773K	10x	as long as short