Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.028%

Price spread now: Deribit against Bitget+0.052%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.052%, 7d avg +0.025%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.027% dearer against Bitget than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of +0.025%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours. Mind the row above: over the last 7 days funding on this pair paid +0.104%, 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	Bitget XRPUSDT	1.5320	0.0100	pay 0.0100% / 8h	4m 17s	$267.6M	$377.4M	125x
Short	Deribit XRP_USDC-PERPETUAL	1.5328	0.0011	get 0.0001% / 1h	4m 17s	$9.3M	$25.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$18.69
Price spread: +0.052% → +0.025%: $2.69
Slippage, 4 orders: −$4.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$39.07
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Deribit: 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	6.3 bp −$6	8.3 bp −$83	17.1 bp −$1,711	27.6 bp −$13.8K
Sell Deribit live order book, 5 min ago	0.98 bp	4.9 bp −$5	6.9 bp −$69	45.7 bp −$4,574	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	1.5315	−0.033%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	+0.010%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	+0.065%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5327	+0.047%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0091%	1h	1.5326	+0.038%	$840K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0011%	1h	1.5328	+0.052%	$9.3M	$25.7M	50x
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5325	+0.035%	$15.0M	$69.9M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5330	+0.065%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.567%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5326	+0.037%	$2.8M	$13.8M	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	1.5330	+0.065%	$511K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	+0.055%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5330	+0.063%	$38.8M	$82.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5326	+0.040%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5326	+0.041%	$540.9M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5330	+0.065%	$339.0M	$930.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5318	−0.013%	$125.3M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5324	+0.026%	$570K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5328	+0.052%	$117K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	+0.085%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5329	+0.059%	$361.5M	$149.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5328	+0.052%	$296.0M	$898.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5324	+0.026%	$108.4M	$166.4M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5320	long leg	$267.6M	$377.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5319	−0.007%	—	$122.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5290	−0.193%	$8.2M	$33.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5317	−0.017%	$665K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5343	+0.150%	$1.1M	$40.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5301	−0.124%	$1.0M	$901K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5320	−0.002%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5331	+0.072%	$46K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5328	+0.055%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5331	+0.071%	$825K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5330	+0.065%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5325	+0.033%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5329	+0.059%	$50.3M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5325	+0.033%	$54.6M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5323	+0.021%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5321	+0.007%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5322	+0.010%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5326	+0.039%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5329	+0.059%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5326	+0.042%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5301	−0.124%	$24.1M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5336	+0.104%	$5.8M	$46.8M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0263%	1h	1.5331	+0.072%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5295	−0.163%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5325	+0.033%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0559%	1h	1.5343	+0.150%	$290.7M	$215.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5331	+0.071%	$529K	$744K	10x	as long as short
Aftermath Perps XRPUSD	+0.0789%	1h	1.5332	+0.080%	$1K	$11K	10x	as long as short