Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: Deribit against Bybit−0.247%45s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.241% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 3 days (all we have)+0.102%+$10 · spread now −0.247%, 7d avg +0.029%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.276% cheaper against Bybit than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you. The two prices were read 45 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	1.5381	0.0100	pay 0.0100% / 8h	2h 23m	$344.3M	$838.0M	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5343	0	get 0.0000% / 1h	23m 29s	$9.2M	$24.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$21
Price spread: −0.247% → +0.029%: −$27.63
Slippage, 4 orders: −$6.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.77
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Deribit: live order book, 6 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, 6 min ago	0.33 bp	8.4 bp −$8	10.3 bp −$103	18.0 bp −$1,797	28.9 bp −$14.4K
Sell Deribit live order book, 6 min ago	0.33 bp	4.4 bp −$4	6.3 bp −$63	529.6 bp −$53.0K	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	1.5341	−0.260%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5337	−0.287%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.397%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5343	−0.247%	$9.2M	$24.1M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.138%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.592%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5335	−0.299%	$179K	$788K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0072% / S +0.0185%	1h	1.5358	−0.150%	$905K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5338	−0.278%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5340	−0.267%	$445K	$3.1M	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	1.5384	+0.017%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5341	−0.263%	$38.9M	$71.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	−0.273%	$668K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5383	+0.014%	$550.0M	$1.84B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5381	long leg	$344.3M	$838.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5377	−0.026%	$124.2M	$836.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.546%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5358	−0.150%	$115K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−1.169%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5334	−0.306%	$367.9M	$131.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5372	−0.059%	$289.5M	$807.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5358	−0.148%	$112.8M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5375	−0.039%	$267.6M	$340.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5367	−0.091%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.390%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.727%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	−0.471%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.657%	$1.0M	$850K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.121%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5386	+0.033%	$49K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5359	−0.145%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5337	−0.285%	$826K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5342	−0.251%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5340	−0.267%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5334	−0.305%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5339	−0.273%	$54.8M	$28.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5337	−0.288%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5373	−0.052%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5366	−0.096%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5337	−0.287%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5377	−0.026%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0157%	1h	1.5349	−0.208%	$1.7M	$925K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5342	−0.256%	$15.5M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5348	−0.215%	$5.4M	$43.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5371	−0.065%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5348	−0.215%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5332	−0.319%	$23.8M	$67.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5334	−0.303%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5379	−0.014%	$405K	$497K	10x	as long as short
Hyperliquid XRP	+0.0474%	1h	1.5399	+0.116%	$283.4M	$184.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5301	−0.523%	$1K	$11K	10x	as long as short