Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.025%

Price spread now: BingX against Deribit−0.066%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.066%, 7d avg −0.042%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.025% cheaper against Deribit than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.042%). If the spread goes back, that is −$2 on $10k: about 23 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5141	0.0014	pay 0.0002% / 1h	56m 34s	$7.7M	$25.5M	50x
Short	BingX XRP-USDC	1.5131	0.0100	get 0.0100% / 8h	3h 56m	—	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $18.06
Price spread: −0.066% → −0.042%: −$2.45
Slippage, 4 orders: −$9.05
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$10.44
Costs to cover: 0.260%
Break-even: 11.0 days

Slippage from Deribit: live order book, 3 min ago; BingX: live order book, 4 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, 3 min ago	0.33 bp	5.6 bp −$6	7.8 bp −$78	45.2 bp −$4,518	doesn't fit
Sell BingX live order book, 4 min ago	0.66 bp	8.0 bp −$8	11.7 bp −$117	25.6 bp −$2,565	59.4 bp −$29.7K

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	1.5135	−0.040%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5124	−0.115%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.059%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5141	+0.002%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0014%	1h	1.5141	long leg	$7.7M	$25.5M	50x
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5137	−0.025%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.767%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0018%	1h	1.5141	0.000%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0095%	8h	1.5140	−0.007%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5134	−0.047%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5135	−0.040%	$497K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5121	−0.132%	$10K	$331K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5139	−0.010%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5139	−0.016%	$38.3M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5127	−0.090%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5127	−0.096%	$532.1M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5129	−0.079%	$346.3M	$938.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5132	−0.059%	$127.7M	$876.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5138	−0.020%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5134	−0.046%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.178%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5128	−0.086%	$369.7M	$152.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5129	−0.079%	$292.4M	$895.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	−0.097%	$107.8M	$175.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5130	−0.073%	$268.0M	$386.0M	125x	as long as short
BingX XRP-USDCshort	+0.0100%	8h	1.5131	−0.066%	—	$4.2M	—
Variational Omni XRP	+0.0100%	8h	1.5154	+0.085%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5146	+0.034%	$658K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5141	−0.001%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5151	+0.066%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5142	+0.007%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5144	+0.020%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5141	−0.002%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	+0.027%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5139	−0.013%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5141	0.000%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5140	−0.007%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	−0.070%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5143	+0.011%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5125	−0.103%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5136	−0.032%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5134	−0.046%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0129%	1h	1.5146	+0.033%	$280.2M	$228.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5147	+0.040%	$5.6M	$47.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5142	+0.005%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5140	−0.005%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5140	−0.007%	$24.2M	$76.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0242%	1h	1.5147	+0.040%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0244%	8h	1.5151	+0.066%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5134	−0.044%	$515K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0671%	1h	1.5149	+0.050%	$2K	$15K	10x	as long as short