Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Bulk+0.246%7-day average −0.005% · 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+$4as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on Bulk Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.237%−$24 · spread now +0.246%, 7d avg −0.005%

Together, before fees−0.230%−$23 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: Bitget is 0.250% dearer against Bulk than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5274	0.0100	pay 0.0013% / 1h	17m 37s	$1.6M	$378K	20x
Short	Bitget XRPUSDT	1.5312	0.0100	get 0.0100% / 8h	7h 17m	$268.0M	$375.1M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.246%Rate

Funding earned: $0
Price spread: +0.246% → −0.005%: $25
Slippage, 4 orders: −$2.46
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $3.54
Costs to cover: 0.215%
Break-even: from the start

Slippage from Bulk: live order book, 1 min ago; Bitget: live order book, 2 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, 1 min ago	0.33 bp	4.0 bp −$4	5.9 bp −$59	15.1 bp −$1,506	31.2 bp −$15.6K
Sell Bitget live order book, 2 min ago	0.33 bp	6.4 bp −$6	9.5 bp −$95	16.2 bp −$1,618	30.5 bp −$15.2K

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	1.5321	+0.304%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5305	+0.199%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5297	+0.149%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0016% / S +0.0076%	1h	1.5296	+0.141%	$838K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.869%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5307	+0.213%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5313	+0.252%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5311	+0.239%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5315	+0.263%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5323	+0.318%	$515K	$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
Katana Perps XRP-USD	+0.0100%	8h	1.5316	+0.272%	$9K	$280K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5311	+0.238%	$477K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5280	+0.036%	$997K	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5318	+0.285%	$38.7M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5313	+0.252%	$633K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5311	+0.237%	$541.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5308	+0.219%	$341.3M	$920.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5315	+0.265%	$124.5M	$866.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5317	+0.278%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	+0.298%	$117K	$711K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5274	long leg	$1.6M	$378K	20x
Gate XRP_USDT	+0.0100%	8h	1.5310	+0.232%	$373.5M	$151.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5308	+0.219%	$307.0M	$910.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5317	+0.280%	$110.3M	$166.4M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5312	+0.246%	$268.0M	$375.1M	125x
BingX XRP-USDC	+0.0100%	8h	1.5307	+0.213%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.265%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5316	+0.274%	$667K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5327	+0.344%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5312	+0.246%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5285	+0.069%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5292	+0.115%	$49K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5297	+0.151%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5312	+0.245%	$824K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5296	+0.139%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5309	+0.226%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5308	+0.218%	$50.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5320	+0.298%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5309	+0.228%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5305	+0.198%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5285	+0.071%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5284	+0.062%	$24.0M	$73.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5323	+0.318%	$5.7M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5314	+0.262%	$14.5M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0287%	1h	1.5328	+0.350%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5287	+0.082%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5321	+0.302%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0379%	1h	1.5331	+0.370%	$288.8M	$214.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.363%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0800%	1h	1.5321	+0.304%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5324	+0.325%	$542K	$773K	10x	as long as short