Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h +0.023%

Price spread now: Binance against Deribit+0.105%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$210.205% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.105%, 7d avg −0.019%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.125% dearer against Deribit than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of −0.019%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5178	0.0145	pay 0.0018% / 1h	58m 42s	$7.7M	$24.0M	50x
Short	Binance XRPUSDT	1.5194	0.0100	get 0.0100% / 8h	7h 58m	$530.4M	$2.21B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.105%Rate

Funding earned: −$9.45
Price spread: +0.105% → −0.019%: $12.46
Slippage, 4 orders: −$3.51
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.5
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Binance: live order book, 15 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 Deribit live order book, 5 min ago	0.33 bp	5.1 bp −$5	7.1 bp −$71	44.9 bp −$4,490	doesn't fit
Sell Binance live order book, 15 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	12.5 bp −$1,252	32.3 bp −$16.2K

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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5170	−0.050%	$14.6M	$73.7M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5182	+0.026%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5193	+0.097%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5173	−0.034%	$246K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.517%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5178	−0.002%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5194	+0.103%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5196	+0.119%	$605K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5174	−0.023%	$997K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5193	+0.099%	$38.5M	$86.0M	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XRP	+0.0100%	1h	1.5195	+0.112%	$611K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5194	+0.105%	$530.4M	$2.21B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5191	+0.086%	$353.0M	$949.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5194	+0.105%	$127.5M	$863.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	−0.020%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5179	+0.007%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.072%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5186	+0.053%	$378.4M	$151.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	+0.132%	$311.5M	$909.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5181	+0.020%	$106.5M	$183.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5192	+0.092%	$269.4M	$389.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5191	+0.086%	—	$107.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	−0.069%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5161	−0.115%	$658K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5178	0.000%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.112%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5181	+0.022%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5172	−0.040%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5174	−0.023%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5173	−0.033%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5172	−0.036%	$816K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5175	−0.022%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5172	−0.040%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5180	+0.015%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5174	−0.026%	$54.1M	$32.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5207	+0.192%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5184	+0.038%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5173	−0.033%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5170	−0.053%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0111% / S −0.0074%	1h	1.5173	−0.035%	$784K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0145%	1h	1.5178	long leg	$7.7M	$24.0M	50x
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5178	0.000%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0161%	8h	1.5185	+0.046%	$1.7M	$33.6M	2.9x	as long as short
Hyperliquid XRP	+0.0200%	1h	1.5210	+0.211%	$290.3M	$268.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5176	−0.013%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5169	−0.059%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0227%	1h	1.5184	+0.040%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5179	+0.006%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.013%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5176	−0.013%	$2K	$16K	10x	as long as short