Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.028%

Price spread now: Paradex against Deribit+0.048%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now +0.048%, 7d avg −0.011%

Together, before fees+0.132%+ Points / potential airdropParadex: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.059% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5563	0	get 0.0000% / 1h	20m 21s	$9.6M	$25.3M	50x
Short	Paradex XRP-USD-PERP	1.5571	0.0100	get 0.0100% / 8h	1h 20m	$485K	$54K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.048%Rate

Funding earned: $21.03
Price spread: +0.048% → −0.011%: $5.89
Slippage, 4 orders: −$12.76
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $3.16
Costs to cover: 0.238%
Break-even: 5.9 days

Slippage from Deribit: live order book, 4 min ago; Paradex: live order book, 64 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	1.93 bp	5.4 bp −$5	7.3 bp −$73	52.7 bp −$5,271	doesn't fit
Sell Paradex live order book, 64 min ago	4.24 bp	6.2 bp −$6	158.2 bp −$1,582	doesn't fit	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	1.5577	+0.090%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5569	+0.037%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5563	long leg	$9.6M	$25.3M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5545	−0.116%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.019%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5565	+0.011%	$15.5M	$68.7M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0119%	1h	1.5544	−0.125%	$1.1M	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5534	−0.186%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5573	+0.063%	$3.0M	$12.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5573	+0.064%	$441K	$3.2M	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	1.5554	−0.061%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5553	−0.064%	$39.4M	$78.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5573	+0.064%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5546	−0.110%	$559.2M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5537	−0.167%	$347.3M	$900.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5533	−0.193%	$127.5M	$880.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	−0.045%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5572	+0.058%	$119K	$742K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	+0.024%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5544	−0.122%	$373.8M	$140.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5545	−0.116%	$295.2M	$856.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5553	−0.067%	$113.9M	$159.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5551	−0.077%	$271.6M	$363.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5552	−0.071%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5537	−0.170%	$11.7M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5544	−0.119%	$676K	$101.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5571	+0.051%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5557	−0.039%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5556	−0.042%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5557	−0.039%	$47K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5544	−0.121%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5564	+0.004%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5564	+0.004%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5561	−0.013%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5557	−0.040%	$51.1M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5564	+0.006%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5571	+0.048%	$485K	$54K	50x
Katana Perps XRP-USD	+0.0101%	8h	1.5561	−0.013%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5561	−0.010%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5559	−0.022%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5573	+0.064%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5566	+0.017%	$18K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5549	−0.092%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5573	+0.064%	$5.8M	$47.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5570	+0.045%	$24.5M	$74.0M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5572	+0.058%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5588	+0.161%	$1.9M	$33.0M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	−0.019%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5574	+0.071%	$510K	$630K	10x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5569	+0.040%	$291.7M	$202.9M	20x	as long as short
Aftermath Perps XRPUSD	+0.0745%	1h	1.5559	−0.028%	$1K	$11K	10x	as long as short