Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: OKX against Deribit−0.270%46s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.279% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.597%+$60 · spread now −0.270%, 7d avg −0.026%

Together, before fees+0.490%+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.244% cheaper against Deribit than usual: you would sell low and buy high (spread −0.270% now, against its 7-day average of −0.026%). If the spread goes back, that is −$24 on $10k: about 8.1 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.107%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5539	0	get 0.0000% / 1h	2m 31s	$8.1M	$22.2M	50x
Short	OKX XRP-USDT-SWAP	1.5497	0.0100	get 0.0100% / 8h	7h 02m	$126.4M	$850.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.270%Rate

Funding earned: $21
Price spread: −0.270% → −0.026%: −$24.41
Slippage, 4 orders: −$10.91
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.32
Costs to cover: 0.279%
Break-even: 17.4 days

Slippage from Deribit: live order book, 2 min ago; OKX: live order book, 2 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	1.93 bp	10.5 bp −$11	25.0 bp −$250	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.32 bp	5.7 bp −$6	7.2 bp −$72	13.7 bp −$1,368	28.7 bp −$14.4K

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	−0.0168%	1h	1.5534	−0.035%	$14.2M	$73.7M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5524	−0.097%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	−0.315%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5539	long leg	$8.1M	$22.2M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5536	−0.018%	$252K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5513	−0.170%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.135%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5535	−0.023%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5502	−0.238%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5515	−0.155%	$2.8M	$14.8M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5519	−0.129%	$628K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5508	−0.199%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5518	−0.134%	$484K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5517	−0.138%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5509	−0.195%	$39.3M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5516	−0.151%	$628K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5506	−0.210%	$542.1M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5501	−0.245%	$359.8M	$907.8M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5497	−0.270%	$126.4M	$850.1M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5449	−0.579%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5516	−0.148%	$162K	$698K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.687%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5510	−0.187%	$389.9M	$160.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5509	−0.193%	$316.5M	$942.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5521	−0.113%	$110.0M	$180.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5510	−0.187%	$274.9M	$360.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5508	−0.199%	—	$105.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5506	−0.213%	$4.9M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5483	−0.361%	$674K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	−0.089%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	−0.348%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5533	−0.041%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5532	−0.045%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5536	−0.019%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5532	−0.045%	$79K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5533	−0.037%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5535	−0.026%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5526	−0.085%	$50.6M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5528	−0.071%	$55.2M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5502	−0.236%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5532	−0.046%	$60K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0108%	1h	1.5522	−0.111%	$832K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5535	−0.026%	$5.3M	$46.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5538	−0.006%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5534	−0.032%	$299.7M	$265.6M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5528	−0.071%	$23.9M	$79.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5530	−0.057%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5535	−0.026%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5535	−0.028%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0483%	1h	1.5459	−0.512%	$3K	$15K	10x	as long as short