Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Bybit−0.283%57s7-day average −0.047% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.283%, 7d avg −0.047%

Together, before fees+0.013%+ Points / potential airdropOndo Perps: Active · farm board+$1 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: Ondo Perps is 0.236% cheaper against Bybit than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.047%. The two prices were read 57 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	1.5199	0.0100	pay 0.0100% / 8h	5h 31m	$344.5M	$927.0M	100x
Short	Ondo Perps XRP-USD.P	1.5156	0.0100	get 0.0013% / 1h	31m 47s	$563K	$28K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.283%Rate

Funding earned: $0
Price spread: −0.283% → −0.047%: −$23.58
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$39.58
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Ondo Perps: 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	5.8 bp −$6	6.8 bp −$68	11.8 bp −$1,180	25.3 bp −$12.7K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	1.5183	−0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5191	−0.056%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5183	−0.107%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5184	−0.099%	$7.7M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.375%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0044%	1h	1.5183	−0.102%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5191	−0.053%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5180	−0.125%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5201	+0.011%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5199	0.000%	$513K	$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	1.5181	−0.118%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5194	−0.030%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5202	+0.020%	$281.7M	$221.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5196	−0.018%	$38.5M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	+0.014%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5203	+0.024%	$538.9M	$2.09B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5199	long leg	$344.5M	$927.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5203	+0.026%	$126.0M	$869.7M	100x	as long as short
Ondo Perps XRP-USD.Pshort	+0.0100%	1h	1.5156	−0.283%	$563K	$28K	5x
Arcus XRP-USD	+0.0100%	1h	1.5192	−0.046%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.282%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5192	−0.046%	$370.3M	$151.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5201	+0.013%	$294.0M	$897.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5187	−0.078%	$106.9M	$171.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5194	−0.033%	$268.0M	$380.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5188	−0.072%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.319%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5154	−0.297%	$658K	$109.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5167	−0.209%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.250%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5190	−0.057%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5194	−0.033%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5186	−0.084%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5183	−0.103%	$817K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5197	−0.011%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5182	−0.112%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.138%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5181	−0.118%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5189	−0.069%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5188	−0.071%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	−0.124%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0208%	1h	1.5189	−0.066%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5190	−0.059%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5186	−0.086%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5175	−0.158%	$24.3M	$75.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5182	−0.109%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5177	−0.145%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0353%	8h	1.5194	−0.033%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5193	−0.040%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.454%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5159	−0.263%	$2K	$14K	10x	as long as short