Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.030%

Price spread now: OKX against Coinbase International+0.125%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.125%, 7d avg −0.035%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.160% dearer against Coinbase International than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of −0.035%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.4 days. At the pace of the last 7 days (−0.051% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5225	0.0184	pay 0.0023% / 1h	51m 32s	$5.6M	$47.5M	50x
Short	OKX XRP-USDT-SWAP	1.5244	0.0100	get 0.0100% / 8h	3h 51m	$127.8M	$888.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$17.64
Price spread: +0.125% → −0.035%: $16.01
Slippage, 4 orders: −$6.11
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.74
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; OKX: 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	0.99 bp	7.7 bp −$8	10.0 bp −$100	28.8 bp −$2,876	doesn't fit
Sell OKX live order book, 3 min ago	0.33 bp	5.4 bp −$5	6.8 bp −$68	14.0 bp −$1,405	30.3 bp −$15.1K

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	1.5244	+0.125%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	+0.128%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	+0.005%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5226	+0.007%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5219	−0.038%	$14.4M	$74.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.200%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0050% / S +0.0017%	1h	1.5224	−0.010%	$782K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5250	+0.164%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5249	+0.158%	$501K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDC	+0.0097%	8h	1.5229	+0.026%	$62K	$934K	50x	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	+0.0098%	8h	1.5239	+0.092%	$15K	$341K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5246	+0.138%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5248	+0.149%	$38.6M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5245	+0.132%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5243	+0.115%	$535.7M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5244	+0.125%	$349.0M	$940.9M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5244	+0.125%	$127.8M	$888.1M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.335%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5246	+0.138%	$119K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.289%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5241	+0.105%	$373.0M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5245	+0.131%	$291.4M	$897.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5245	+0.133%	$108.9M	$176.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5243	+0.118%	$269.8M	$388.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5242	+0.112%	—	$127.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.566%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5193	−0.212%	$660K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5221	−0.028%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5206	−0.125%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5239	+0.095%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5232	+0.046%	$44K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5227	+0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5228	+0.017%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5231	+0.039%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5225	0.000%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5233	+0.056%	$49.8M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5226	+0.007%	$54.3M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5245	+0.130%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5237	+0.080%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5224	−0.008%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5250	+0.164%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0184%	1h	1.5225	long leg	$5.6M	$47.5M	50x
Hyperliquid XRP	+0.0214%	1h	1.5260	+0.230%	$293.0M	$234.1M	20x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5232	+0.047%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5200	−0.164%	$24.2M	$76.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0232%	1h	1.5206	−0.123%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5231	+0.039%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5247	+0.144%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5248	+0.148%	$519K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.427%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0646%	1h	1.5172	−0.349%	$2K	$15K	10x	as long as short