Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.025%

Price spread now: Deribit against Binance+0.033%55s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as 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−$210.209% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.033%, 7d avg +0.024%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.153%, so the current rate has only just turned against you. The two prices were read 55 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	Binance XRPUSDT	1.5136	0.0100	pay 0.0100% / 8h	3h 56m	$532.4M	$2.13B	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5141	0.0014	get 0.0002% / 1h	56m 24s	$7.7M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$18.06
Price spread: +0.033% → +0.024%: $0.95
Slippage, 4 orders: −$3.93
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.04
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Deribit: 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 Binance live order book, 3 min ago	0.33 bp	5.6 bp −$6	7.5 bp −$75	13.0 bp −$1,301	29.2 bp −$14.6K
Sell Deribit live order book, 3 min ago	0.33 bp	4.4 bp −$4	6.9 bp −$69	41.9 bp −$4,189	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	1.5135	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5124	−0.082%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.092%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5137	+0.009%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0014%	1h	1.5141	+0.033%	$7.7M	$25.5M	50x
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5137	+0.008%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.801%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0018%	1h	1.5137	+0.005%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0095%	8h	1.5140	+0.026%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5134	−0.014%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5135	−0.007%	$497K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5121	−0.099%	$10K	$331K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.050%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5132	−0.026%	$38.3M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5127	−0.057%	$607K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5136	long leg	$532.4M	$2.13B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5131	−0.033%	$346.4M	$938.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5132	−0.026%	$127.6M	$876.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5138	+0.013%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5134	−0.013%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.145%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5128	−0.053%	$369.7M	$152.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5129	−0.046%	$292.5M	$895.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5133	−0.019%	$107.9M	$175.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5129	−0.046%	$268.0M	$386.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5137	+0.007%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	+0.118%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5146	+0.067%	$658K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5141	+0.032%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5151	+0.099%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5132	−0.026%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5130	−0.040%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5136	0.000%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5141	+0.031%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	+0.060%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5139	+0.020%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5141	+0.033%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5140	+0.026%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	−0.037%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5125	−0.070%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5136	+0.001%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5134	−0.013%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0124%	1h	1.5142	+0.040%	$280.1M	$228.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5147	+0.073%	$5.6M	$47.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5142	+0.038%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5126	−0.065%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5140	+0.026%	$24.2M	$76.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0242%	1h	1.5147	+0.073%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0244%	8h	1.5151	+0.099%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5134	−0.011%	$515K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0666%	1h	1.5139	+0.019%	$2K	$15K	10x	as long as short