Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Bullet against Derive+0.012%7-day average — · you sell dearer than you buy

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

Long on Derive Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5318	0.0100	pay 0.0013% / 1h	25m 42s	$825K	$70K	10x
Short	Bullet XRP-USD	1.5320	0.0100	get 0.0013% / 1h	25m 42s	$42K	$59K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Derive. 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 DerivebpFee BulletbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → 0.000%: $1.22
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$12.78
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Bullet: 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 Derive no order-book sample	—	—	—	—	—
Sell Bullet no order-book sample	—	—	—	—	—

Derive and Bullet: 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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5320	+0.015%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5265	−0.347%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5323	+0.030%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5250	−0.445%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5322	+0.025%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5324	+0.038%	$9.2M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.184%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5314	−0.027%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5320	+0.013%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5322	+0.025%	$445K	$3.1M	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	1.5305	−0.082%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5317	−0.009%	$38.9M	$71.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5322	+0.026%	$667K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5326	+0.051%	$548.0M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5331	+0.084%	$343.4M	$835.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5334	+0.104%	$123.6M	$832.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.138%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5315	−0.020%	$114K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.764%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5311	−0.047%	$367.2M	$131.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5314	−0.027%	$288.9M	$805.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5311	−0.044%	$113.6M	$147.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5314	−0.027%	$266.3M	$339.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5317	−0.007%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5205	−0.740%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	−0.759%	$661K	$95.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5221	−0.635%	$1.1M	$41.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.745%	$1.0M	$848K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5304	−0.093%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5315	−0.020%	$49K	$475K	20x	as long as short
Bullet XRP-USDshort	+0.0100%	1h	1.5320	+0.012%	$42K	$59K	20x
Derive XRP-PERPlong	+0.0100%	1h	1.5318	long leg	$825K	$70K	10x
SunX XRP-USDT	+0.0100%	8h	1.5324	+0.041%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5319	+0.006%	$28K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5303	−0.097%	$50.4M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5317	−0.007%	$54.8M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5302	−0.103%	$477K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5316	−0.014%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5312	−0.041%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5317	−0.006%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5319	+0.006%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0151%	1h	1.5332	+0.091%	$1.7M	$924K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5318	−0.004%	$15.3M	$63.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5328	+0.064%	$5.4M	$43.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5311	−0.046%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0211%	8h	1.5318	−0.001%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5299	−0.125%	$23.9M	$66.7M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5249	−0.451%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5320	+0.010%	$406K	$496K	10x	as long as short
Hyperliquid XRP	+0.0465%	1h	1.5334	+0.104%	$282.0M	$181.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0530%	1h	1.5253	−0.422%	$1K	$11K	10x	as long as short