Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.028%

Price spread now: Bitget against Coinbase International−0.172%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 4 days (all we have)+0.491%+$49 · spread now −0.172%, 7d avg −0.028%

Together, before fees+0.451%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.143% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5150	0.0216	pay 0.0027% / 1h	41m 30s	$5.6M	$46.4M	50x
Short	Bitget XRPUSDT	1.5124	0.0100	get 0.0100% / 8h	5h 41m	$266.2M	$380.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$24.36
Price spread: −0.172% → −0.028%: −$14.34
Slippage, 4 orders: −$8.01
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$68.71
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bitget: live order book, 3 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, 3 min ago	0.33 bp	10.3 bp −$10	11.6 bp −$116	26.0 bp −$2,603	doesn't fit
Sell Bitget live order book, 3 min ago	0.33 bp	6.3 bp −$6	7.9 bp −$79	16.7 bp −$1,667	37.9 bp −$19.0K

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	1.5125	−0.165%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5115	−0.230%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5144	−0.041%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0047%	1h	1.5142	−0.050%	$818K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.706%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5142	−0.053%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5124	−0.172%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5148	−0.013%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5122	−0.185%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5120	−0.198%	$508K	$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	1.5117	−0.218%	$9K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.142%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5126	−0.158%	$280.2M	$221.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5119	−0.204%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5121	−0.192%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5125	−0.162%	$536.1M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5128	−0.145%	$343.3M	$925.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5128	−0.145%	$125.2M	$864.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5116	−0.224%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5131	−0.125%	$114K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	−0.095%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5124	−0.172%	$369.8M	$151.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5122	−0.185%	$292.9M	$895.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5118	−0.213%	$106.5M	$170.8M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5124	−0.172%	$266.2M	$380.5M	125x
BingX XRP-USDC	+0.0100%	8h	1.5131	−0.125%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5109	−0.272%	$5.9M	$36.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5133	−0.115%	$658K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5153	+0.020%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5143	−0.046%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5129	−0.136%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5151	+0.007%	$41K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5147	−0.018%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5147	−0.022%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5155	+0.034%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5146	−0.026%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5154	+0.030%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	−0.026%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5120	−0.199%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5123	−0.181%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5142	−0.055%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5148	−0.011%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5150	long leg	$5.6M	$46.4M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5150	0.000%	$24.3M	$74.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0236%	1h	1.5149	−0.007%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5143	−0.047%	$14.4M	$72.9M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5114	−0.236%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0355%	8h	1.5156	+0.040%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5130	−0.131%	$525K	$770K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5120	−0.198%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0717%	1h	1.5132	−0.119%	$2K	$14K	10x	as long as short