Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h −0.006%

Price spread now: Orderly against Bulk−0.854%7-day average −0.027% · you buy dearer than you sell

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

Long on Bulk Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.783%+$78 · spread now −0.854%, 7d avg −0.027%

Together, before fees+0.769%+$77 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.827% cheaper against Bulk than usual: you would sell low and buy high (−$83 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5683	0.0100	pay 0.0013% / 1h	35m 45s	$1.7M	$616K	20x
Short	Orderly PERP_XRP_USDC	1.5549	0.0053	get 0.0053% / 8h	1h 35m	$78K	$941K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.854%Rate

Funding earned: −$9.9
Price spread: −0.854% → −0.027%: −$82.75
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$105.65
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 3 min ago; Orderly: 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 Bulk live order book, 3 min ago	0.64 bp	4.1 bp −$4	4.9 bp −$49	13.5 bp −$1,348	31.3 bp −$15.6K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5603	−0.510%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5544	−0.885%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5546	−0.874%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5555	−0.814%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.506%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5527	−0.992%	$15.5M	$68.1M	50x	as long as short
Orderly PERP_XRP_USDCshort	+0.0053%	8h	1.5549	−0.854%	$78K	$941K	50x
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0132%	1h	1.5554	−0.820%	$916K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5556	−0.811%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5547	−0.867%	$455K	$3.1M	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	1.5558	−0.794%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5538	−0.922%	$39.5M	$76.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5554	−0.820%	$671K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5556	−0.809%	$561.6M	$1.95B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5560	−0.784%	$348.9M	$882.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5560	−0.784%	$127.3M	$872.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	−0.778%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5570	−0.721%	$119K	$731K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5683	long leg	$1.7M	$616K	20x
Gate XRP_USDT	+0.0100%	8h	1.5541	−0.905%	$373.3M	$138.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5555	−0.816%	$292.8M	$838.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5546	−0.876%	$114.4M	$157.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5544	−0.886%	$270.4M	$358.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5540	−0.912%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.043%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5643	−0.253%	$679K	$99.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	−0.197%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	−0.242%	$1.0M	$880K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5564	−0.759%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5548	−0.861%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5553	−0.828%	$837K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5562	−0.774%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5539	−0.918%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5526	−1.004%	$51.0M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5537	−0.931%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.725%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5552	−0.837%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5561	−0.778%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5534	−0.951%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5547	−0.867%	$72K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0136%	1h	1.5609	−0.473%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5567	−0.740%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5557	−0.805%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5543	−0.893%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5608	−0.478%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0287%	1h	1.5543	−0.893%	$1.8M	$976K	25x	as long as short
Kalshi KXXRPPERP	+0.0320%	8h	1.5578	−0.670%	$1.9M	$32.4M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.300%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5573	−0.701%	$508K	$615K	10x	as long as short
Hyperliquid XRP	+0.0601%	1h	1.5557	−0.803%	$290.2M	$199.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0679%	1h	1.5636	−0.297%	$1K	$11K	10x	as long as short