Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.028%

Price spread now: Coinbase International against Bybit+0.013%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.354%−$35 · spread now +0.013%, 7d avg +0.034%

Together, before fees−0.303%−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.021% cheaper against Bybit than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.034%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.051% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5168	0.0100	pay 0.0100% / 8h	5h 35m	$344.1M	$925.7M	100x
Short	Coinbase International XRP-PERP-INTX	1.5170	0.0216	get 0.0027% / 1h	35m 09s	$5.6M	$46.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.013%Rate

Funding earned: $24.36
Price spread: +0.013% → +0.034%: −$2.07
Slippage, 4 orders: −$5.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$4.04
Costs to cover: 0.263%
Break-even: 8.2 days

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 4 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 Bybit live order book, 4 min ago	0.33 bp	5.8 bp −$6	7.1 bp −$71	13.4 bp −$1,344	25.3 bp −$12.7K
Sell Coinbase International live order book, 4 min ago	0.33 bp	6.7 bp −$7	9.9 bp −$99	27.1 bp −$2,711	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	1.5155	−0.086%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	−0.115%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5163	−0.034%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0033% / S +0.0045%	1h	1.5163	−0.035%	$818K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.584%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5159	−0.059%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5166	−0.013%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5169	+0.007%	$7.7M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5168	−0.002%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5170	+0.013%	$512K	$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	+0.0100%	8h	1.5150	−0.119%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5162	−0.036%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5179	+0.073%	$281.1M	$220.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5166	−0.010%	$38.5M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	−0.107%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5169	+0.005%	$537.7M	$2.09B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5168	long leg	$344.1M	$925.7M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5170	+0.013%	$125.7M	$867.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.369%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5157	−0.073%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.078%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5169	+0.007%	$369.9M	$151.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5168	0.000%	$294.0M	$896.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	−0.014%	$106.8M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5169	+0.007%	$267.0M	$380.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5162	−0.040%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.115%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.298%	$657K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5134	−0.224%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5125	−0.283%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5158	−0.067%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5166	−0.013%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5165	−0.020%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5170	+0.011%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	+0.016%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5167	−0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5165	−0.017%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5167	−0.007%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5155	−0.085%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5162	−0.037%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5165	−0.022%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5175	+0.046%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5165	−0.020%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0216%	1h	1.5170	+0.013%	$5.6M	$46.5M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5161	−0.046%	$24.3M	$74.9M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5165	−0.022%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5131	−0.242%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5168	0.000%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5160	−0.051%	$516K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.251%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0698%	1h	1.5138	−0.196%	$2K	$14K	10x	as long as short