Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Bitget+2.781%71s7-day average −0.208% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as 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−$1051.049% of the position

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)−3.733%−$373 · spread now +2.781%, 7d avg −0.208%

Together, before fees−3.602%−$360 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.989% dearer against Bitget than usual: you sell high and buy low (spread +2.781% now, against its 7-day average of −0.208%): +$299 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. Mind the row above: over the last 7 days funding on this pair paid +0.131%, so the current rate has only just turned against you. The two prices were read 71 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	1.5139	0.0100	pay 0.0100% / 8h	4h 52m	$267.7M	$382.7M	125x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	52m 16s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.781%Rate

Funding earned: −$14
Price spread: +2.781% → −0.208%: $298.93
Slippage, 4 orders: −$92.89
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $180.01
Costs to cover: 1.049%
Break-even: from the start

Slippage from Bitget: live order book, 2 min ago; Injective: live order book, 6 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, 2 min ago	0.33 bp	6.3 bp −$6	7.1 bp −$71	16.2 bp −$1,624	37.2 bp −$18.6K
Sell Injective live order book, 6 min ago	42.92 bp	49.2 bp −$49	62.7 bp −$627	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	1.5137	−0.013%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5132	−0.044%	$14.3M	$73.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5147	+0.051%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.205%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5141	+0.013%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5139	+0.001%	$253K	—	150x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.781%	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0037% / S +0.0033%	1h	1.5137	−0.013%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0040%	1h	1.5138	−0.007%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0078%	8h	1.5137	−0.013%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5139	0.000%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5137	−0.013%	$509K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5131	−0.053%	$9K	$316K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5145	+0.036%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5150	+0.073%	$281.5M	$224.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5143	+0.027%	$38.3M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5146	+0.046%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5141	+0.015%	$533.8M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5140	+0.007%	$344.5M	$930.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5143	+0.026%	$125.7M	$872.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5144	+0.033%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5138	−0.007%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.167%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5142	+0.020%	$369.9M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5139	0.000%	$295.1M	$893.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5135	−0.024%	$108.2M	$172.9M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5139	long leg	$267.7M	$382.7M	125x
BingX XRP-USDC	+0.0100%	8h	1.5143	+0.026%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	+0.185%	$5.5M	$37.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5157	+0.120%	$659K	$108.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5161	+0.145%	$1.1M	$35.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5114	−0.165%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5149	+0.064%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5145	+0.040%	$42K	$451K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5138	−0.010%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5138	−0.008%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5142	+0.018%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	−0.013%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5131	−0.050%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5139	0.000%	$53.9M	$30.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5142	+0.022%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5132	−0.045%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5135	−0.026%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5160	+0.142%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0170%	1h	1.5146	+0.046%	$1.9M	$1.3M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5145	+0.040%	$5.6M	$47.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5141	+0.014%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5167	+0.185%	$24.3M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0327%	8h	1.5147	+0.053%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5141	+0.010%	$516K	$780K	10x	as long as short
Aftermath Perps XRPUSD	+0.0673%	1h	1.5159	+0.132%	$2K	$14K	10x	as long as short