Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Bulk+0.338%55s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.213% of the position

Long on Bulk Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.302%−$30 · spread now +0.338%, 7d avg +0.023%

Together, before fees−0.302%−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.316% dearer against Bulk than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 55 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	Bulk XRP-USD	1.5477	0.0100	pay 0.0013% / 1h	30m 31s	$1.7M	$578K	20x
Short	ApeX Omni XRPUSDT	1.5529	0.0100	get 0.0013% / 1h	30m 31s	$1.0M	$882K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bulk. 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 BulkbpFee ApeX OmnibpOrdersPrice spread, now +0.338%Rate

Funding earned: $0
Price spread: +0.338% → +0.023%: $31.56
Slippage, 4 orders: −$4.25
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $10.31
Costs to cover: 0.213%
Break-even: from the start

Slippage from Bulk: live order book, 4 min ago; ApeX Omni: live order book, 4 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 Bulk live order book, 4 min ago	0.32 bp	3.8 bp −$4	4.5 bp −$45	13.0 bp −$1,303	32.9 bp −$16.5K
Sell ApeX Omni live order book, 4 min ago	1.29 bp	6.3 bp −$6	14.4 bp −$144	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	1.5461	−0.101%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5453	−0.156%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5477	+0.002%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5483	+0.038%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.206%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0042%	1h	1.5475	−0.010%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5473	−0.024%	$77K	$942K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0127%	1h	1.5482	+0.033%	$912K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5460	−0.107%	$3.0M	$12.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5463	−0.088%	$438K	$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
Nado XRP-PERP	+0.0100%	1h	1.5457	−0.124%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5455	−0.140%	$39.1M	$77.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5462	−0.098%	$667K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5452	−0.157%	$556.5M	$1.96B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5457	−0.127%	$344.7M	$889.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5463	−0.088%	$126.6M	$871.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5515	+0.248%	$577K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5462	−0.095%	$118K	$737K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5454	−0.146%	$372.1M	$139.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5458	−0.121%	$289.4M	$844.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5459	−0.112%	$112.9M	$158.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5453	−0.153%	$269.4M	$360.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5449	−0.179%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.763%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5531	+0.353%	$674K	$101.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5554	+0.502%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5529	+0.338%	$1.0M	$882K	50x
Vest XRP-PERP	+0.0100%	1h	1.5466	−0.069%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5460	−0.108%	$45K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5486	+0.061%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5476	−0.006%	$833K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5482	+0.034%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5478	+0.009%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5469	−0.048%	$50.8M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5477	+0.002%	$55.1M	$29.1M	50x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5477	long leg	$1.7M	$578K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5456	−0.134%	$482K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5457	−0.127%	$12K	$251K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5449	−0.177%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5476	−0.003%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5466	−0.069%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5506	+0.188%	$18K	$81K	7x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5462	−0.096%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5482	+0.035%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5470	−0.043%	$24.6M	$73.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0252%	1h	1.5482	+0.035%	$1.8M	$994K	25x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5493	+0.106%	$1.9M	$32.6M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5570	+0.603%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5466	−0.071%	$506K	$627K	10x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5473	−0.024%	$288.6M	$201.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0719%	1h	1.5563	+0.559%	$1K	$11K	10x	as long as short