Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Derive against Bullet+0.083%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.083% dearer against Bullet than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet XRP-USD	1.5356	0.0100	pay 0.0013% / 1h	1m 11s	$41K	$69K	20x
Short	Derive XRP-PERP	1.5369	0.0100	get 0.0013% / 1h	1m 11s	$827K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Bullet. 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 BulletbpFee DerivebpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → 0.000%: $8.33
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$5.67
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; Derive: 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 Bullet no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Bullet and Derive: 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	1.5350	−0.038%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5343	−0.080%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	−0.038%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5355	−0.003%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0007% / S +0.0090%	1h	1.5354	−0.012%	$842K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5373	+0.111%	$14.9M	$70.2M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5365	+0.060%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5376	+0.132%	$9.3M	$25.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.330%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5374	+0.119%	$2.9M	$13.8M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5376	+0.132%	$514K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5347	−0.060%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5367	+0.070%	$38.9M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5350	−0.036%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5372	+0.108%	$542.5M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5371	+0.099%	$340.8M	$932.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5370	+0.093%	$125.9M	$886.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	−0.233%	$571K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5348	−0.051%	$117K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.148%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	+0.086%	$372.4M	$151.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5369	+0.086%	$303.6M	$901.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5373	+0.113%	$108.9M	$166.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5370	+0.093%	$268.8M	$377.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5371	+0.099%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5346	−0.061%	$6.4M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5324	−0.210%	$665K	$106.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5319	−0.237%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5328	−0.181%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5348	−0.051%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5356	+0.001%	$48K	$458K	20x	as long as short
Bullet XRP-USDlong	+0.0100%	1h	1.5356	long leg	$41K	$69K	20x
Derive XRP-PERPshort	+0.0100%	1h	1.5369	+0.083%	$827K	$82K	10x
SunX XRP-USDT	+0.0100%	8h	1.5371	+0.098%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5373	+0.112%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	+0.064%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5372	+0.106%	$54.8M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5348	−0.052%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5344	−0.077%	$12K	$271K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5365	+0.057%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5363	+0.048%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5347	−0.057%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5353	−0.021%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5374	+0.119%	$24.1M	$75.1M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5384	+0.184%	$5.8M	$47.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0267%	1h	1.5381	+0.164%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5341	−0.097%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5384	+0.184%	$2.3M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0553%	1h	1.5386	+0.197%	$291.4M	$216.4M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5352	−0.024%	$525K	$746K	10x	as long as short
Aftermath Perps XRPUSD	+0.0781%	1h	1.5335	−0.138%	$1K	$11K	10x	as long as short