Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0128%/8h= +14.1% APRpaid last 24h +0.024%

Price spread now: Backpack against Bitget+0.212%49s7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as 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−$240.237% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 7 days−0.664%−$66 · spread now +0.212%, 7d avg −0.077%

Together, before fees−0.572%−$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.289% dearer against Bitget than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.077%. The two prices were read 49 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	Bitget XRPUSDT	1.5119	0.0100	pay 0.0100% / 8h	5h 44m	$266.1M	$380.4M	125x
Short	Backpack XRP_USDC_PERP	1.5151	0.0228	get 0.0029% / 1h	44m 16s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.212%Rate

Funding earned: $26.97
Price spread: +0.212% → −0.077%: $28.9
Slippage, 4 orders: −$1.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $32.14
Costs to cover: 0.237%
Break-even: from the start

Slippage from Bitget: live order book, 5 min ago; Backpack: live order book, 5 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 Bitget live order book, 5 min ago	0.33 bp	6.7 bp −$7	8.7 bp −$87	17.8 bp −$1,780	37.1 bp −$18.5K
Sell Backpack live order book, 5 min ago	0.33 bp	5.3 bp −$5	7.5 bp −$75	doesn't fit	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	1.5119	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5126	+0.045%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5111	−0.052%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0048%	1h	1.5111	−0.054%	$816K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.917%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5118	−0.007%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5121	+0.013%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5121	+0.013%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5123	+0.027%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5123	+0.026%	$508K	$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	1.5111	−0.053%	$9K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5126	+0.043%	$997K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5125	+0.040%	$280.0M	$221.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5121	+0.015%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5125	+0.041%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5122	+0.017%	$536.0M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5127	+0.053%	$342.9M	$925.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5131	+0.079%	$125.1M	$864.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5109	−0.066%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5122	+0.020%	$114K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	+0.110%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5112	−0.046%	$369.0M	$150.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5127	+0.053%	$292.8M	$894.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5119	+0.002%	$106.6M	$170.6M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5119	long leg	$266.1M	$380.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5116	−0.020%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5109	−0.067%	$5.9M	$36.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5101	−0.122%	$656K	$109.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5100	−0.126%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5110	−0.060%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5124	+0.034%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5121	+0.013%	$41K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5115	−0.026%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5121	+0.012%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5125	+0.042%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5119	0.000%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5122	+0.020%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5121	+0.013%	$53.8M	$29.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5127	+0.056%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5116	−0.017%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5119	0.000%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5116	−0.019%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5119	0.000%	$5.6M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	+0.126%	—	$74.6M	125x	as long as short
Backpack XRP_USDC_PERPshort	+0.0228%	1h	1.5151	+0.212%	$1.9M	$1.3M	25x
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5116	−0.022%	$14.4M	$72.9M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5136	+0.110%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0355%	8h	1.5128	+0.060%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5125	+0.037%	$527K	$769K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	+0.073%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0715%	1h	1.5122	+0.021%	$2K	$14K	10x	as long as short