Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h −0.007%

Price spread now: edgeX against Deribit−0.350%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.291%+$29 · spread now −0.350%, 7d avg −0.044%

Together, before fees+0.067%+ Points / potential airdropedgeX: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.306% cheaper against Deribit than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5194	0.0145	pay 0.0018% / 1h	54m 40s	$7.7M	$25.5M	50x
Short	edgeX XRPUSDC	1.5141	0.0100	get 0.0050% / 4h	3h 54m	$657K	$108.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.350%Rate

Funding earned: −$9.45
Price spread: −0.350% → −0.044%: −$30.65
Slippage, 4 orders: −$5.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$61.12
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; edgeX: 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, 4 min ago	0.33 bp	5.6 bp −$6	7.8 bp −$78	45.2 bp −$4,518	doesn't fit
Sell edgeX live order book, 4 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	8.9 bp −$888	doesn't fit

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	1.5179	−0.099%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5194	−0.002%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.290%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5186	−0.053%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5192	−0.011%	$14.4M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.409%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0017%	1h	1.5181	−0.087%	$791K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0096%	8h	1.5189	−0.033%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5199	+0.036%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5196	+0.013%	$499K	$3.3M	20x	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	1.5177	−0.112%	$11K	$337K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5174	−0.128%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5193	−0.007%	$38.4M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5198	+0.025%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5197	+0.019%	$534.1M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5195	+0.007%	$347.7M	$938.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5195	+0.007%	$127.9M	$883.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.132%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5190	−0.026%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.086%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5192	−0.013%	$371.8M	$153.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5193	−0.007%	$292.6M	$895.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5199	+0.034%	$108.5M	$175.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5189	−0.033%	$268.8M	$386.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5188	−0.039%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.363%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5141	−0.350%	$657K	$108.7M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.368%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	−0.309%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5172	−0.147%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5181	−0.086%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	−0.086%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5191	−0.017%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5197	+0.019%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5192	−0.013%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5199	+0.033%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5192	−0.013%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5193	−0.008%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5187	−0.045%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5187	−0.045%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5180	−0.092%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0145%	1h	1.5194	long leg	$7.7M	$25.5M	50x
Hyperliquid XRP	+0.0163%	1h	1.5203	+0.059%	$281.2M	$227.6M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5196	+0.013%	$5.6M	$47.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5179	−0.097%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5192	−0.013%	$24.2M	$76.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5133	−0.400%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0262%	8h	1.5186	−0.053%	$2.0M	$35.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0272%	1h	1.5206	+0.079%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5189	−0.030%	$517K	$774K	10x	as long as short
Aftermath Perps XRPUSD	+0.0662%	1h	1.5149	−0.297%	$2K	$15K	10x	as long as short