Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.038%

Price spread now: Orderly against Coinbase International−0.033%7-day average −0.034% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.033%, 7d avg −0.034%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$3 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	1.5119	0.0192	pay 0.0024% / 1h	46m 46s	$5.6M	$47.0M	50x
Short	Orderly PERP_XRP_USDC	1.5114	0.0079	get 0.0079% / 8h	4h 46m	$62K	$935K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.033%Rate

Funding earned: −$23.75
Price spread: −0.033% → −0.034%: $0.12
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$39.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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	9.2 bp −$9	11.3 bp −$113	24.2 bp −$2,416	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5106	−0.086%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5110	−0.063%	$14.2M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5125	+0.041%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	+0.007%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5113	−0.040%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5116	−0.018%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.917%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0038% / S +0.0032%	1h	1.5119	−0.001%	$787K	—	200x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5137	+0.119%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDCshort	+0.0079%	8h	1.5114	−0.033%	$62K	$935K	50x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5125	+0.042%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5136	+0.112%	$509K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5118	−0.007%	$10K	$318K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5118	−0.003%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5126	+0.046%	$280.8M	$224.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5124	+0.033%	$38.3M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5133	+0.091%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5134	+0.099%	$533.1M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5131	+0.079%	$344.4M	$931.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5131	+0.079%	$125.5M	$873.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5108	−0.073%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5114	−0.033%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.299%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5129	+0.066%	$369.1M	$152.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5131	+0.079%	$296.9M	$895.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5118	−0.008%	$107.8M	$173.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5127	+0.053%	$267.4M	$383.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5130	+0.073%	—	$126.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5129	+0.065%	$5.4M	$37.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5107	−0.080%	$656K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5112	−0.048%	$1.1M	$35.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5111	−0.053%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5117	−0.013%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5130	+0.073%	$42K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5120	+0.008%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5115	−0.027%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5123	+0.023%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5112	−0.046%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5117	−0.015%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5120	+0.007%	$54.0M	$30.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5131	+0.082%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5125	+0.037%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5108	−0.073%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0149%	1h	1.5131	+0.079%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5109	−0.066%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0192%	1h	1.5119	long leg	$5.6M	$47.0M	50x
Reya XRPRUSDPERP	+0.0216%	1h	1.5116	−0.019%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5111	−0.053%	$24.2M	$75.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5120	+0.007%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5131	+0.078%	$515K	$780K	10x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5133	+0.091%	$2K	$15K	10x	as long as short