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: Pacifica against Bulk−0.247%7-day average −0.002% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Bulk Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.369%+$37 · spread now −0.247%, 7d avg −0.002%

Together, before fees+0.368%+ Points / potential airdropPacifica: Active · farm board+$37 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: Pacifica is 0.245% cheaper against Bulk than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5567	0.0100	pay 0.0013% / 1h	12m 29s	$1.7M	$578K	20x
Short	Pacifica XRP	1.5528	0.0100	get 0.0013% / 1h	12m 29s	$639K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.247%Rate

Funding earned: $0
Price spread: −0.247% → −0.002%: −$24.53
Slippage, 4 orders: −$3.93
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.47
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Bulk: live order book, 2 min ago; Pacifica: live order book, 1 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, 2 min ago	0.32 bp	3.8 bp −$4	4.3 bp −$43	11.8 bp −$1,185	28.9 bp −$14.4K
Sell Pacifica live order book, 1 min ago	0.64 bp	6.0 bp −$6	8.0 bp −$80	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	1.5524	−0.274%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0002% / S +0.0115%	1h	1.5526	−0.264%	$849K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5519	−0.306%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5527	−0.255%	$260K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0008%	1h	1.5524	−0.274%	$9.5M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.043%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5521	−0.294%	$15.5M	$68.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5529	−0.242%	$78K	$910K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5529	−0.244%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5533	−0.216%	$440K	$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	1.5521	−0.290%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5525	−0.270%	$39.3M	$78.8M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5528	−0.247%	$639K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5531	−0.232%	$559.0M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5529	−0.242%	$345.4M	$901.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5529	−0.242%	$127.3M	$881.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	−0.069%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5529	−0.242%	$119K	$745K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5567	long leg	$1.7M	$578K	20x
Gate XRP_USDT	+0.0100%	8h	1.5528	−0.248%	$373.3M	$141.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5529	−0.242%	$298.7M	$863.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5524	−0.272%	$113.8M	$160.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5523	−0.281%	$271.2M	$364.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5529	−0.242%	—	$119.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5575	+0.051%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5570	+0.024%	$676K	$102.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5572	+0.032%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5581	+0.092%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5524	−0.273%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5528	−0.248%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5528	−0.250%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5519	−0.305%	$835K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5528	−0.248%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5522	−0.287%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5520	−0.297%	$51.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5522	−0.287%	$55.2M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5522	−0.288%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5524	−0.274%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5520	−0.299%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5519	−0.303%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5527	−0.255%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5525	−0.271%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5529	−0.242%	$5.9M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5524	−0.274%	$24.4M	$73.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0232%	1h	1.5519	−0.307%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5527	−0.255%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5541	−0.165%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	−0.043%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5534	−0.207%	$509K	$630K	10x	as long as short
Hyperliquid XRP	+0.0590%	1h	1.5541	−0.165%	$290.4M	$204.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0752%	1h	1.5546	−0.130%	$1K	$11K	10x	as long as short