Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Binance−0.602%7-day average +0.007% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.604%+$60 · spread now −0.602%, 7d avg +0.007%

Together, before fees+0.606%+$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.609% cheaper against Binance than usual: you would sell low and buy high, −$61 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5367	0.0100	pay 0.0100% / 8h	7h 13m	$543.0M	$2.05B	100x
Short	Bulk XRP-USD	1.5274	0.0100	get 0.0013% / 1h	13m 31s	$1.6M	$378K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now −0.602%Rate

Funding earned: $0
Price spread: −0.602% → +0.007%: −$60.94
Slippage, 4 orders: −$2.23
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$80.18
Costs to cover: 0.192%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Bulk: 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 Binance live order book, 16 min ago	0.33 bp	5.3 bp −$5	7.0 bp −$70	12.4 bp −$1,243	26.9 bp −$13.4K
Sell Bulk live order book, 1 min ago	0.65 bp	4.4 bp −$4	5.7 bp −$57	14.6 bp −$1,456	32.6 bp −$16.3K

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	+0.052%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5368	+0.004%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5387	+0.128%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0017% / S +0.0075%	1h	1.5386	+0.122%	$843K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.256%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5389	+0.143%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5357	−0.065%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5376	+0.060%	$2.9M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5376	+0.059%	$516K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5357	−0.065%	$9K	$280K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.037%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5366	−0.003%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5372	+0.031%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5374	+0.046%	$635K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5367	long leg	$543.0M	$2.05B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5367	0.000%	$342.5M	$919.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5366	−0.007%	$124.9M	$868.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5317	−0.325%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5374	+0.046%	$118K	$714K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5274	−0.602%	$1.6M	$378K	20x
Gate XRP_USDT	+0.0100%	8h	1.5374	+0.046%	$375.3M	$151.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5375	+0.052%	$307.0M	$912.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5371	+0.029%	$111.2M	$166.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5365	−0.013%	$269.3M	$375.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5373	+0.039%	—	$124.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5332	−0.227%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5358	−0.059%	$668K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5366	−0.008%	$1.1M	$37.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5374	+0.046%	$1.2M	$997K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5371	+0.026%	$48K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5385	+0.119%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5392	+0.165%	$829K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5384	+0.109%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5391	+0.156%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5386	+0.121%	$50.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5392	+0.163%	$54.7M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5367	+0.002%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5370	+0.021%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5388	+0.137%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0140%	1h	1.5392	+0.163%	$9.3M	$25.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5362	−0.031%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	0.000%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5398	+0.202%	$5.8M	$46.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5394	+0.179%	$14.6M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0308%	1h	1.5404	+0.241%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5358	−0.056%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5380	+0.085%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0384%	1h	1.5384	+0.111%	$289.9M	$215.1M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	−0.306%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0789%	1h	1.5343	−0.156%	$2K	$13K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5369	+0.011%	$544K	$773K	10x	as long as short