Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.023%

Price spread now: Bybit against Coinbase International−0.058%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 3 days (all we have)+0.131%+$13 · spread now −0.058%, 7d avg −0.032%

Together, before fees+0.090%+$9 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 Bybit is 0.026% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5607	0.0216	pay 0.0027% / 1h	37m 17s	$5.8M	$46.8M	50x
Short	Bybit XRPUSDT	1.5598	0.0100	get 0.0100% / 8h	1h 37m	$350.9M	$880.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$24.36
Price spread: −0.058% → −0.032%: −$2.61
Slippage, 4 orders: −$6.63
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.59
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Bybit: live order book, 2 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	0.64 bp	8.1 bp −$8	9.9 bp −$99	25.7 bp −$2,566	doesn't fit
Sell Bybit live order book, 2 min ago	0.32 bp	5.9 bp −$6	6.9 bp −$69	13.4 bp −$1,342	26.5 bp −$13.3K

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	1.5610	+0.019%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5594	−0.085%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5603	−0.026%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5598	−0.054%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.031%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5599	−0.052%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5601	−0.038%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0133%	1h	1.5606	−0.005%	$919K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5594	−0.081%	$3.0M	$11.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5600	−0.045%	$461K	$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	1.5589	−0.119%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5596	−0.068%	$39.6M	$76.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5594	−0.083%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5598	−0.055%	$563.1M	$1.94B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5598	−0.058%	$350.9M	$880.6M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5602	−0.032%	$127.5M	$872.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5693	+0.551%	$584K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5602	−0.032%	$119K	$729K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.487%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5592	−0.096%	$374.3M	$137.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5590	−0.109%	$293.3M	$836.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5598	−0.060%	$115.0M	$156.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5602	−0.032%	$271.5M	$357.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5600	−0.045%	—	$116.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.530%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5643	+0.233%	$679K	$99.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	+0.289%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.243%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5601	−0.040%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5593	−0.090%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5604	−0.017%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5605	−0.015%	$840K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5599	−0.048%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5600	−0.045%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	−0.158%	$51.2M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5606	−0.006%	$55.6M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5592	−0.095%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5601	−0.038%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5599	−0.052%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5601	−0.038%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0128%	1h	1.5657	+0.319%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5604	−0.019%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5587	−0.130%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5607	long leg	$5.8M	$46.8M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5633	+0.167%	$24.5M	$72.9M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5625	+0.115%	$1.8M	$972K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5650	+0.276%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.788%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5608	+0.006%	$509K	$615K	10x	as long as short
Hyperliquid XRP	+0.0614%	1h	1.5610	+0.019%	$291.1M	$199.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5648	+0.262%	$1K	$11K	10x	as long as short