Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0121%/8h= +13.3% APRpaid last 24h +0.033%

Price spread now: Reya against Bitget−0.201%59s7-day average −0.029% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.113%+$11 on $10k

Price spread, last 7 days+0.168%+$17 · spread now −0.201%, 7d avg −0.029%

Together, before fees+0.281%+ Points / potential airdropReya: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.172% cheaper against Bitget than usual: you would sell low and buy high (spread −0.201% now, against its 7-day average of −0.029%). If the spread goes back, that is −$17 on $10k: about 4.7 days of funding at the current rate (+$4 a day). The two prices were read 59 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	1.5362	0.0100	pay 0.0100% / 8h	7h 12m	$272.8M	$363.5M	125x
Short	Reya XRPRUSDPERP	1.5331	0.0221	get 0.0028% / 1h	12m 27s	$1.4M	$4K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.201%Rate

Funding earned: $25.49
Price spread: −0.201% → −0.029%: −$17.22
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$9.73
Costs to cover: 0.180%
Break-even: 9.7 days

Slippage unknown: Bitget: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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	9.0 bp −$9	13.0 bp −$130	18.4 bp −$1,844	26.6 bp −$13.3K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XRP on 50 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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5337	−0.162%	$14.0M	$74.7M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5351	−0.072%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	−0.078%	$69K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5339	−0.150%	$7.8M	$22.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5333	−0.189%	$249K	—	150x	as long as short
dYdX XRP-USD	+0.0006%	1h	1.5347	−0.098%	$1.1M	$123K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.289%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5356	−0.039%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5360	−0.014%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5359	−0.021%	$2.8M	$14.7M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5360	−0.013%	$624K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5353	−0.059%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5356	−0.041%	$479K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5357	−0.029%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5356	−0.039%	$39.0M	$82.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5358	−0.023%	$618K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5359	−0.020%	$536.7M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5360	−0.013%	$357.6M	$912.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5361	−0.007%	$127.2M	$840.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5326	−0.234%	$562K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5361	−0.007%	$161K	$702K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5316	−0.300%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5355	−0.046%	$379.2M	$156.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5354	−0.052%	$318.0M	$930.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5355	−0.046%	$108.5M	$180.4M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5362	long leg	$272.8M	$363.5M	125x
BingX XRP-USDT	+0.0100%	8h	1.5355	−0.046%	—	$106.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5344	−0.115%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5339	−0.150%	$666K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5356	−0.037%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5342	−0.130%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5364	+0.014%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5363	+0.007%	$52K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5334	−0.182%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5335	−0.176%	$78K	$646K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5337	−0.162%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5334	−0.182%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5349	−0.087%	$50.1M	$13.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5348	−0.091%	$54.4M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5351	−0.073%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5332	−0.194%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0134% / S −0.0096%	1h	1.5335	−0.178%	$788K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5333	−0.189%	$5.3M	$46.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0172%	8h	1.5357	−0.033%	$1.7M	$32.8M	2.9x	as long as short
Hyperliquid XRP	+0.0177%	1h	1.5371	+0.059%	$294.3M	$265.8M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5334	−0.182%	$23.8M	$78.0M	125x	as long as short
Reya XRPRUSDPERPshort	+0.0221%	1h	1.5331	−0.201%	$1.4M	$4K	15x
Backpack XRP_USDC_PERP	+0.0225%	1h	1.5359	−0.020%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5360	−0.015%	$526K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0522%	1h	1.5320	−0.272%	$3K	$16K	10x	as long as short