Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.041%

Price spread now: Derive against BloFin+0.047%7-day average −0.012% · you sell dearer than you buy

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

Long on BloFin Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.047%, 7d avg −0.012%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.059% dearer against BloFin than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.012%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.113% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XRP-USDT	1.5625	0.0220	pay 0.0220% / 8h	50m 56s	$24.4M	$74.7M	125x
Short	Derive XRP-PERP	1.5632	0.0100	get 0.0013% / 1h	50m 56s	$841K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against BloFin. 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 BloFinbpFee DerivebpOrdersPrice spread, now +0.047%Rate

Funding earned: −$25.2
Price spread: +0.047% → −0.012%: $5.9
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$37.3
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Derive: 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 BloFin live order book, 3 min ago	0.64 bp	6.6 bp −$7	6.6 bp −$66	10.8 bp −$1,084	18.1 bp −$9,053
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 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	1.5658	+0.211%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5650	+0.159%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5690	+0.416%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5633	+0.051%	$9.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5633	+0.052%	$262K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0004% / S +0.0107%	1h	1.5633	+0.049%	$860K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5634	+0.058%	$15.7M	$68.9M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5632	+0.045%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.416%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5632	+0.045%	$3.0M	$12.5M	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	1.5635	+0.064%	$446K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5638	+0.086%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5629	+0.026%	$39.7M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5655	+0.194%	$645K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5633	+0.053%	$560.8M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5634	+0.058%	$348.9M	$912.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5631	+0.038%	$127.9M	$893.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5650	+0.160%	$582K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5657	+0.205%	$119K	$750K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5632	+0.045%	$374.0M	$142.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5634	+0.058%	$304.6M	$862.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5630	+0.033%	$113.6M	$162.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5632	+0.045%	$273.1M	$369.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5635	+0.064%	—	$120.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5607	−0.113%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5645	+0.130%	$679K	$102.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5674	+0.315%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5691	+0.422%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5644	+0.122%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5639	+0.090%	$45K	$451K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5635	+0.063%	$42K	$66K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5632	+0.047%	$841K	$81K	10x
SunX XRP-USDT	+0.0100%	8h	1.5634	+0.058%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5632	+0.045%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5631	+0.038%	$51.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5630	+0.032%	$55.6M	$29.3M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5562	−0.406%	$1.7M	$573K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5650	+0.162%	$488K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5658	+0.211%	$13K	$264K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5630	+0.035%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5637	+0.075%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5659	+0.218%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5633	+0.049%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5625	long leg	$24.4M	$74.7M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5641	+0.102%	$5.9M	$48.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5671	+0.295%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5659	+0.218%	$2.0M	$33.6M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0399%	1h	1.5633	+0.051%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0604%	1h	1.5646	+0.134%	$297.4M	$207.3M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5665	+0.258%	$511K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0777%	1h	1.5637	+0.078%	$1K	$11K	10x	as long as short