Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Bulk+0.589%7-day average −0.035% · 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+$46as in the Price arb table

costs, in and out, $10k−$160.164% of the position

Long on Bulk Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.589%−$59 · spread now +0.589%, 7d avg −0.035%

Together, before fees−0.597%−$60 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: SoDEX is 0.624% dearer against Bulk than usual: you sell high and buy low, +$62 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5026	0.0100	pay 0.0013% / 1h	13m 48s	$1.6M	$5K	20x
Short	SoDEX XRP-USD	1.5115	0.0100	get 0.0013% / 1h	13m 48s	$28K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.589%Rate

Funding earned: $0
Price spread: +0.589% → −0.035%: $62.4
Slippage, 4 orders: −$1.37
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $46.03
Costs to cover: 0.164%
Break-even: from the start

Slippage from Bulk: live order book, just now; SoDEX: live order book, 5 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, just now	0.33 bp	3.8 bp −$4	4.1 bp −$41	7.2 bp −$716	19.2 bp −$9,602
Sell SoDEX live order book, 5 min ago	0.33 bp	4.3 bp −$4	7.8 bp −$78	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	1.5085	+0.389%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5118	+0.609%	$14.2M	$74.9M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5088	+0.410%	$1.1M	$133K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	+0.423%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5102	+0.504%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.550%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0071% / S −0.0016%	1h	1.5101	+0.496%	$796K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5099	+0.483%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5119	+0.617%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5119	+0.616%	$546K	$3.3M	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	+0.0099%	8h	1.5090	+0.423%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5098	+0.479%	$977K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5116	+0.596%	$38.4M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5097	+0.467%	$600K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5115	+0.588%	$525.7M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5114	+0.582%	$343.7M	$965.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5114	+0.582%	$126.4M	$885.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5088	+0.409%	$561K	$34K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5103	+0.509%	$144K	$712K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5026	long leg	$1.6M	$5K	20x
Gate XRP_USDT	+0.0100%	8h	1.5119	+0.616%	$371.7M	$160.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5118	+0.609%	$296.4M	$925.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5119	+0.613%	$106.7M	$181.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5114	+0.582%	$265.4M	$398.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5112	+0.569%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5072	+0.303%	$4.7M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5079	+0.348%	$655K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5083	+0.377%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5086	+0.396%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5099	+0.479%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5102	+0.503%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5101	+0.498%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5109	+0.549%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5112	+0.570%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5099	+0.485%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5115	+0.589%	$28K	$1.6M	10x
HTX XRP-USDT	+0.0100%	8h	1.5108	+0.542%	$49.4M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5109	+0.549%	$53.9M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5106	+0.531%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5114	+0.586%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5114	+0.583%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0120%	1h	1.5128	+0.676%	$288.8M	$262.3M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5119	+0.616%	$7.7M	$25.5M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5121	+0.629%	$5.7M	$48.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0192%	1h	1.5077	+0.334%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0196%	1h	1.5124	+0.649%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0201%	8h	1.5117	+0.602%	$1.7M	$35.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5098	+0.478%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5086	+0.396%	$23.2M	$77.1M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5103	+0.506%	$519K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0594%	1h	1.5072	+0.300%	$2K	$16K	10x	as long as short