Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Bybit−0.128%46s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$220.215% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.128%, 7d avg −0.003%

Together, before fees+0.022%+$2 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: SoDEX is 0.126% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.003%. The two prices were read 46 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	1.5580	0.0100	pay 0.0100% / 8h	1h 17m	$346.8M	$900.2M	100x
Short	SoDEX XRP-USD	1.5560	0.0100	get 0.0013% / 1h	17m 37s	$32K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.003%: −$12.56
Slippage, 4 orders: −$2.52
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$34.08
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SoDEX: live order book, 1 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, 2 min ago	0.32 bp	6.3 bp −$6	7.3 bp −$73	12.2 bp −$1,221	25.2 bp −$12.6K
Sell SoDEX live order book, 1 min ago	0.64 bp	4.6 bp −$5	8.3 bp −$83	doesn't fit	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	1.5582	+0.013%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0003% / S +0.0117%	1h	1.5557	−0.145%	$851K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5575	−0.032%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5558	−0.141%	$260K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5563	−0.109%	$9.6M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.128%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5559	−0.132%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5559	−0.135%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5586	+0.038%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5579	−0.006%	$441K	$3.2M	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	1.5575	−0.035%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5585	+0.031%	$39.5M	$78.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5585	+0.035%	$642K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5584	+0.026%	$560.7M	$1.98B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5580	long leg	$346.8M	$900.2M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5576	−0.026%	$127.7M	$883.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.167%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5584	+0.026%	$119K	$743K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	−0.085%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5576	−0.026%	$374.5M	$140.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5584	+0.026%	$298.8M	$858.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5584	+0.028%	$114.1M	$159.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5576	−0.026%	$272.2M	$364.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5578	−0.013%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5549	−0.202%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5567	−0.085%	$676K	$102.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5549	−0.198%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5555	−0.160%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.070%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5561	−0.122%	$47K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5558	−0.142%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5561	−0.120%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5566	−0.092%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5560	−0.128%	$32K	$1.9M	10x
HTX XRP-USDT	+0.0100%	8h	1.5558	−0.138%	$51.1M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5558	−0.141%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5580	+0.003%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5582	+0.013%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5572	−0.048%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5558	−0.138%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5590	+0.064%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5560	−0.131%	$18K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5553	−0.175%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5562	−0.116%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5549	−0.199%	$24.5M	$73.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0293%	1h	1.5563	−0.109%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5564	−0.103%	$1.9M	$32.9M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	−0.128%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5597	+0.107%	$511K	$630K	10x	as long as short
Hyperliquid XRP	+0.0597%	1h	1.5591	+0.071%	$290.7M	$203.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0764%	1h	1.5563	−0.110%	$1K	$11K	10x	as long as short