Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.020%

Price spread now: Injective against Bybit−0.078%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.078% cheaper against Bybit than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.140%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5302	0.0100	pay 0.0100% / 8h	2h 26m	$342.7M	$835.1M	100x
Short	Injective XRP/USDC PERP	1.5290	0.0040	get 0.0005% / 1h	26m 41s	$2K	$86K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.078%Rate

Funding earned: −$12.68
Price spread: −0.078% → 0.000%: −$7.84
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$31.54
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Injective: 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, 2 min ago	0.33 bp	8.4 bp −$8	10.3 bp −$103	18.0 bp −$1,797	28.9 bp −$14.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5280	−0.142%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5265	−0.242%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5316	+0.091%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5250	−0.340%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5281	−0.135%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5301	−0.007%	$9.2M	$24.0M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0040%	1h	1.5290	−0.078%	$2K	$86K	30x
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5282	−0.131%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5323	+0.139%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5320	+0.118%	$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	1.5269	−0.212%	$1.0M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5311	+0.059%	$38.9M	$71.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5322	+0.132%	$667K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5319	+0.112%	$547.9M	$1.84B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5302	long leg	$342.7M	$835.1M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5306	+0.026%	$123.6M	$830.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.033%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5315	+0.085%	$114K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.659%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5311	+0.059%	$364.7M	$130.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5321	+0.124%	$289.5M	$804.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5320	+0.118%	$113.6M	$147.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5307	+0.033%	$266.4M	$339.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5306	+0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5205	−0.635%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	−0.654%	$661K	$95.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5221	−0.530%	$1.1M	$41.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.640%	$1.0M	$848K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5281	−0.137%	$49K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5277	−0.163%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5285	−0.108%	$823K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5259	−0.279%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5295	−0.046%	$28K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5275	−0.178%	$50.3M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5304	+0.013%	$54.7M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5302	+0.002%	$477K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5269	−0.216%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5316	+0.091%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5308	+0.038%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5293	−0.062%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5319	+0.111%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0143%	1h	1.5321	+0.124%	$1.7M	$919K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5296	−0.036%	$15.3M	$63.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5302	0.000%	$5.4M	$43.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0208%	8h	1.5297	−0.033%	$1.7M	$31.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5276	−0.169%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5299	−0.020%	$23.9M	$66.7M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5249	−0.346%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5320	+0.115%	$406K	$496K	10x	as long as short
Hyperliquid XRP	+0.0462%	1h	1.5329	+0.176%	$281.7M	$181.7M	20x	as long as short
Aftermath Perps XRPUSD	+0.0538%	1h	1.5243	−0.383%	$1K	$11K	10x	as long as short