Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.028%

Price spread now: KuCoin against Deribit−0.005%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now −0.005%, 7d avg −0.015%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.138%, 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	1.5367	0.0010	pay 0.0001% / 1h	22m 49s	$9.4M	$25.6M	50x
Short	KuCoin XRPUSDTM	1.5366	0.0100	get 0.0100% / 8h	22m 49s	$110.2M	$165.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.005%Rate

Funding earned: $18.9
Price spread: −0.005% → −0.015%: $0.96
Slippage, 4 orders: −$7.88
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$7.02
Costs to cover: 0.269%
Break-even: 9.6 days

Slippage from Deribit: live order book, 1 min ago; KuCoin: live order book, 6 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, 1 min ago	0.32 bp	5.4 bp −$5	7.2 bp −$72	42.6 bp −$4,262	doesn't fit
Sell KuCoin live order book, 6 min ago	0.03 bp	7.6 bp −$8	11.1 bp −$111	32.5 bp −$3,250	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	1.5361	−0.039%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−0.014%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	+0.085%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	−0.036%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5360	−0.046%	$830K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0010%	1h	1.5367	long leg	$9.4M	$25.6M	50x
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5365	−0.016%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5367	0.000%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.256%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5368	+0.007%	$2.9M	$13.0M	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	1.5362	−0.033%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5356	−0.073%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5363	−0.024%	$39.1M	$81.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5370	+0.021%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5369	+0.013%	$547.3M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5370	+0.020%	$341.8M	$924.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5371	+0.026%	$125.3M	$879.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.143%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	−0.020%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.280%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5362	−0.033%	$361.3M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5371	+0.026%	$293.2M	$885.8M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5366	−0.005%	$110.2M	$165.4M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5357	−0.065%	$267.4M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5362	−0.033%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.115%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	0.000%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.233%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.065%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5363	−0.028%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5365	−0.013%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.018%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	−0.006%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	+0.012%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	−0.013%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	−0.004%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5366	−0.007%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	+0.027%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5363	−0.026%	$12K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−0.034%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.021%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5363	−0.026%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5363	−0.023%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	0.000%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5372	+0.033%	$5.8M	$47.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0257%	1h	1.5372	+0.033%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5364	−0.017%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0306%	8h	1.5370	+0.020%	$2.0M	$34.4M	2.9x	as long as short
Hyperliquid XRP	+0.0589%	1h	1.5379	+0.078%	$292.5M	$212.5M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5370	+0.021%	$500K	$637K	10x	as long as short
Aftermath Perps XRPUSD	+0.0787%	1h	1.5398	+0.199%	$1K	$11K	10x	as long as short