XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h +0.056%

Price spread now: Hyperliquid against Coinbase International−0.073%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.073%, 7d avg +0.041%

Together, before fees+0.251%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hyperliquid is 0.113% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.041%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.118%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5151	0.0216	pay 0.0027% / 1h	7m 22s	$5.7M	$46.7M	50x
Short	Hyperliquid XRP	1.5140	0.0166	get 0.0021% / 1h	7m 22s	$279.9M	$219.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$10.45
Price spread: −0.073% → +0.041%: −$11.32
Slippage, 4 orders: −$6.64
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$47.41
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Hyperliquid: live order book, 7 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	0.33 bp	7.0 bp −$7	9.9 bp −$99	26.4 bp −$2,637	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.33 bp	5.0 bp −$5	8.0 bp −$80	12.2 bp −$1,218	doesn't fit

XRP on 50 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	1.5140	−0.073%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5134	−0.114%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	−0.073%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5131	−0.135%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0054%	1h	1.5130	−0.140%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.699%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5145	−0.040%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0073%	8h	1.5140	−0.073%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5144	−0.049%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5146	−0.033%	$510K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5120	−0.205%	$10K	$299K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5136	−0.096%	$962K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5131	−0.132%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5135	−0.104%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5143	−0.054%	$537.6M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5135	−0.106%	$341.2M	$929.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5142	−0.059%	$124.3M	$867.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5119	−0.211%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5134	−0.112%	$115K	$696K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5125	−0.175%	$1.6M	$257K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5131	−0.132%	$367.6M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5136	−0.099%	$292.1M	$918.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	−0.164%	$106.7M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5141	−0.066%	$266.8M	$381.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5128	−0.152%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	−0.140%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5109	−0.279%	$657K	$109.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5120	−0.205%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5112	−0.257%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5131	−0.130%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5133	−0.119%	$43K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5135	−0.104%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5141	−0.066%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5144	−0.050%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5144	−0.046%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5145	−0.040%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5143	−0.053%	$53.9M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	−0.142%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5142	−0.059%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5138	−0.084%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5135	−0.106%	$8K	$8K	10x	as long as short
Hyperliquid XRPshort	+0.0166%	1h	1.5140	−0.073%	$279.9M	$219.2M	20x
Deribit XRP_USDC-PERPETUAL	+0.0212%	1h	1.5149	−0.013%	$7.6M	$25.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5133	−0.118%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5151	long leg	$5.7M	$46.7M	50x
Hibachi XRP/USDT-P	+0.0328%	1h	1.5138	−0.085%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0329%	1h	1.5146	−0.033%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0359%	8h	1.5140	−0.073%	$2.1M	$35.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5136	−0.102%	$529K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0762%	1h	1.5140	−0.076%	$2K	$14K	10x	as long as short