Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.026%

Price spread now: BingX against Coinbase International−0.039%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.039%, 7d avg −0.028%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5367	0.0224	pay 0.0028% / 1h	11m 59s	$5.7M	$46.7M	50x
Short	BingX XRP-USDT	1.5361	0.0100	get 0.0100% / 8h	7h 11m	—	$124.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$26.04
Price spread: −0.039% → −0.028%: −$1.13
Slippage, 4 orders: −$6.85
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$54.02
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; BingX: live order book, 12 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 Coinbase International live order book, 2 min ago	0.65 bp	7.1 bp −$7	9.0 bp −$90	26.7 bp −$2,673	doesn't fit
Sell BingX live order book, 12 min ago	0.98 bp	6.0 bp −$6	6.3 bp −$63	8.3 bp −$833	15.3 bp −$7,674

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	1.5369	+0.013%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5360	−0.045%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.043%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0018% / S +0.0074%	1h	1.5361	−0.038%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.256%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5360	−0.046%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5356	−0.072%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5365	−0.013%	$9.3M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5365	−0.013%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5361	−0.039%	$515K	$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
Katana Perps XRP-USD	+0.0100%	8h	1.5354	−0.085%	$9K	$281K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5366	−0.009%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5368	+0.010%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5362	−0.034%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5366	−0.005%	$635K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5363	−0.027%	$542.7M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5362	−0.033%	$342.2M	$919.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5361	−0.039%	$124.8M	$867.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5366	−0.007%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5363	−0.026%	$118K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.602%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5358	−0.059%	$375.3M	$151.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5361	−0.039%	$306.5M	$913.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5361	−0.040%	$111.0M	$166.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5361	−0.039%	$269.5M	$375.0M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5361	−0.039%	—	$124.8M	—
Variational Omni XRP	+0.0100%	8h	1.5332	−0.227%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5358	−0.059%	$668K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5366	−0.008%	$1.1M	$37.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5374	+0.046%	$1.2M	$997K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	0.000%	$48K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.018%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5364	−0.020%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5365	−0.012%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5360	−0.046%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5367	−0.001%	$50.4M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5363	−0.026%	$54.6M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5359	−0.054%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5357	−0.067%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5362	−0.033%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5354	−0.083%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5366	−0.007%	$24.1M	$74.1M	125x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0224%	1h	1.5367	long leg	$5.7M	$46.7M	50x
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5363	−0.027%	$14.5M	$70.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0308%	1h	1.5367	0.000%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5361	−0.039%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5366	−0.007%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0382%	1h	1.5372	+0.033%	$290.3M	$215.6M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	−0.306%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5363	−0.028%	$543K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5364	−0.019%	$2K	$13K	10x	as long as short