Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Derive against Bybit+0.084%7-day average +0.003% · you sell dearer than you buy

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

Long on Bybit Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)−0.223%−$22 · spread now +0.084%, 7d avg +0.003%

Together, before fees−0.152%−$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: Derive is 0.081% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5540	0.0100	pay 0.0100% / 8h	1h 35m	$348.5M	$882.0M	100x
Short	Derive XRP-PERP	1.5553	0.0100	get 0.0013% / 1h	35m 54s	$837K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.084%Rate

Funding earned: $0
Price spread: +0.084% → +0.003%: $8.14
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Derive: 3 bp × 2 orders: −$6
Net: −$8.86
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; 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 Bybit live order book, 3 min ago	0.32 bp	5.8 bp −$6	7.0 bp −$70	14.8 bp −$1,479	26.2 bp −$13.1K
Sell Derive no order-book sample	—	—	—	—	—

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	1.5603	+0.405%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5557	+0.112%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5546	+0.039%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5555	+0.099%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.609%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5527	−0.081%	$15.5M	$68.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5549	+0.058%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0132%	1h	1.5554	+0.093%	$916K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5541	+0.009%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5542	+0.013%	$455K	$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	1.5558	+0.119%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5538	−0.013%	$39.5M	$76.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5565	+0.159%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5538	−0.010%	$560.9M	$1.95B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5540	long leg	$348.5M	$882.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5537	−0.019%	$127.1M	$870.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	+0.135%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5570	+0.193%	$119K	$731K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.920%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5541	+0.006%	$373.3M	$138.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5540	0.000%	$293.5M	$838.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5546	+0.036%	$114.4M	$157.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5537	−0.019%	$270.3M	$358.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5540	0.000%	—	$116.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.963%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5643	+0.665%	$679K	$99.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	+0.721%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.676%	$1.0M	$880K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5564	+0.154%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5548	+0.052%	$42K	$64K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5553	+0.084%	$837K	$79K	10x
SunX XRP-USDT	+0.0100%	8h	1.5562	+0.139%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5539	−0.006%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5526	−0.093%	$51.0M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5537	−0.019%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	+0.188%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5564	+0.154%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5561	+0.135%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5534	−0.040%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5547	+0.045%	$72K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0136%	1h	1.5609	+0.442%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5567	+0.174%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5557	+0.107%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5543	+0.019%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5608	+0.438%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0287%	1h	1.5543	+0.019%	$1.8M	$976K	25x	as long as short
Kalshi KXXRPPERP	+0.0320%	8h	1.5578	+0.245%	$1.9M	$32.4M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+1.223%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5573	+0.213%	$508K	$615K	10x	as long as short
Hyperliquid XRP	+0.0602%	1h	1.5556	+0.102%	$290.2M	$199.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0679%	1h	1.5636	+0.621%	$1K	$11K	10x	as long as short