Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.013%

Price spread now: Orderly against Deribit−0.033%7-day average −0.030% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now −0.033%, 7d avg −0.030%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, 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 −0.154%, 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	1.5173	0.0014	pay 0.0002% / 1h	54m 42s	$7.7M	$23.9M	50x
Short	Orderly PERP_XRP_USDC	1.5168	0.0100	get 0.0100% / 8h	7h 54m	$77K	$689K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.033%Rate

Funding earned: $18.06
Price spread: −0.033% → −0.030%: −$0.25
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $4.81
Costs to cover: 0.130%
Break-even: 5.1 days

Slippage unknown: Deribit: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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	5.3 bp −$5	8.3 bp −$83	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5184	+0.074%	$14.3M	$74.4M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5188	+0.099%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5209	+0.237%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5169	−0.027%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0014%	1h	1.5173	long leg	$7.7M	$23.9M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.551%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5205	+0.208%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5211	+0.250%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5213	+0.264%	$607K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5158	−0.099%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5164	−0.056%	$995K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5209	+0.240%	$38.6M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5207	+0.227%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5209	+0.235%	$530.5M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5200	+0.178%	$352.6M	$949.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	+0.178%	$126.9M	$864.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5203	+0.198%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5172	−0.007%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.109%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5214	+0.270%	$379.5M	$151.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5205	+0.211%	$312.4M	$911.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5215	+0.277%	$106.6M	$183.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5211	+0.250%	$269.7M	$388.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5211	+0.250%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5181	+0.053%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5193	+0.129%	$660K	$112.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	+0.103%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5173	0.000%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5177	+0.026%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5167	−0.040%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5173	0.000%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5168	−0.033%	$77K	$689K	50x
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.221%	$818K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5169	−0.030%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5179	+0.040%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5188	+0.100%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5190	+0.112%	$54.1M	$32.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5168	−0.034%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5209	+0.239%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	−0.036%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0112% / S −0.0075%	1h	1.5172	−0.009%	$786K	—	200x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5165	−0.053%	$8K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5186	+0.086%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0163%	8h	1.5175	+0.013%	$1.7M	$33.6M	2.9x	as long as short
Hyperliquid XRP	+0.0203%	1h	1.5225	+0.343%	$290.7M	$267.6M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5190	+0.112%	$23.9M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5165	−0.055%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0247%	1h	1.5200	+0.178%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5167	−0.037%	$520K	$796K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.046%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0553%	1h	1.5181	+0.053%	$2K	$16K	10x	as long as short