Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Bybit−0.152%55s7-day average +0.017% · 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—prices read too far apart to compare

costs, in and out, $10k−$200.200% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.143%+$14 · spread now −0.152%, 7d avg +0.017%

Together, before fees+0.146%+$15 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: Bulk is 0.169% cheaper against Bybit than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.017%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5137	0.0100	pay 0.0100% / 8h	3h 58m	$346.2M	$938.3M	100x
Short	Bulk XRP-USD	1.5114	0.0100	get 0.0013% / 1h	58m 49s	$1.6M	$49K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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 BybitbpFee BulkbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0
Price spread: −0.152% → +0.017%: −$16.93
Slippage, 4 orders: −$1.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$36.9
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Bulk: live order book, just now.

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 Bybit live order book, 5 min ago	0.33 bp	5.8 bp −$6	7.3 bp −$73	12.2 bp −$1,223	23.8 bp −$11.9K
Sell Bulk live order book, just now	0.33 bp	3.8 bp −$4	4.4 bp −$44	8.1 bp −$813	19.7 bp −$9,862

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	1.5159	+0.145%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5142	+0.034%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.086%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5143	+0.040%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5137	−0.001%	$253K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5136	−0.005%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.794%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0047% / S +0.0018%	1h	1.5137	−0.002%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0095%	8h	1.5139	+0.013%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5139	+0.012%	$2.8M	$14.6M	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	1.5140	+0.020%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5145	+0.053%	$10K	$331K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5142	+0.031%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5149	+0.080%	$280.4M	$228.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5139	+0.011%	$38.3M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5161	+0.158%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5137	0.000%	$532.4M	$2.12B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5137	long leg	$346.2M	$938.3M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5140	+0.020%	$127.3M	$876.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5138	+0.007%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5155	+0.119%	$117K	$705K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5114	−0.152%	$1.6M	$49K	20x
Gate XRP_USDT	+0.0100%	8h	1.5138	+0.007%	$369.9M	$152.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5136	−0.007%	$292.4M	$895.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5142	+0.035%	$107.9M	$175.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5138	+0.007%	$268.1M	$386.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5139	+0.013%	—	$127.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	+0.111%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5150	+0.087%	$658K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5140	+0.021%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5143	+0.040%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5147	+0.063%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5150	+0.086%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5140	+0.018%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	+0.031%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5163	+0.172%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5138	+0.007%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5156	+0.128%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5140	+0.020%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5162	+0.163%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5134	−0.018%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5138	+0.006%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5151	+0.092%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5145	+0.053%	$5.6M	$47.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0189%	1h	1.5147	+0.066%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5157	+0.135%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5137	+0.001%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5144	+0.046%	$24.2M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5154	+0.112%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5156	+0.125%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0677%	1h	1.5147	+0.065%	$2K	$15K	10x	as long as short