Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.060%

Price spread now: BloFin against Deribit−0.079%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.079%, 7d avg −0.016%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.063% cheaper against Deribit than usual: you would sell low and buy high (spread −0.079% now, against its 7-day average of −0.016%). If the spread goes back, that is −$6 on $10k: about 36 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.066% in total) that is about 6.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5212	0.0079	pay 0.0010% / 1h	52m 34s	$7.7M	$25.5M	50x
Short	BloFin XRP-USDT	1.5200	0.0220	get 0.0220% / 8h	3h 52m	$24.2M	$76.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.079%Rate

Funding earned: $29.61
Price spread: −0.079% → −0.016%: −$6.31
Slippage, 4 orders: −$5.83
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$1.53
Costs to cover: 0.248%
Break-even: 7.4 days

Slippage from Deribit: live order book, 2 min ago; BloFin: 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 Deribit live order book, 2 min ago	0.33 bp	5.6 bp −$6	7.8 bp −$78	75.7 bp −$7,569	doesn't fit
Sell BloFin live order book, 7 min ago	0.66 bp	7.0 bp −$7	7.3 bp −$73	10.2 bp −$1,020	16.1 bp −$8,050

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	1.5209	−0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5224	+0.082%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5207	−0.033%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5210	−0.012%	$14.4M	$74.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.288%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0049% / S +0.0017%	1h	1.5206	−0.041%	$780K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0079%	1h	1.5212	long leg	$7.7M	$25.5M	50x
Lighter XRP	+0.0096%	1h	1.5228	+0.105%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5233	+0.138%	$500K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDC	+0.0096%	8h	1.5209	−0.020%	$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	1.5238	+0.171%	$12K	$338K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	−0.010%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5224	+0.077%	$38.5M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5230	+0.116%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5229	+0.113%	$535.3M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5230	+0.118%	$348.6M	$940.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5230	+0.118%	$127.8M	$886.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.250%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5245	+0.217%	$119K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.204%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5228	+0.105%	$372.4M	$153.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5229	+0.112%	$292.8M	$896.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5231	+0.124%	$108.9M	$176.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	+0.145%	$269.7M	$387.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5230	+0.118%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.481%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	−0.300%	$659K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.486%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	−0.184%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5211	−0.007%	$44K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5207	−0.033%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5211	−0.007%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5212	−0.001%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5209	−0.020%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5212	+0.001%	$49.8M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5209	−0.020%	$54.2M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5228	+0.103%	$475K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5199	−0.085%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5231	+0.127%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5207	−0.036%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5248	+0.237%	$9K	$8K	10x	as long as short
Hyperliquid XRP	+0.0162%	1h	1.5230	+0.118%	$283.8M	$229.5M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5215	+0.020%	$5.6M	$47.4M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5209	−0.018%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5200	−0.079%	$24.2M	$76.2M	125x
Hibachi XRP/USDT-P	+0.0224%	1h	1.5183	−0.188%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5221	+0.059%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5202	−0.066%	$2.0M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5246	+0.223%	$519K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.342%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0654%	1h	1.5161	−0.336%	$2K	$15K	10x	as long as short