Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Bybit against Derive+0.069%7-day average −0.006% · you sell dearer than you buy

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

Long on Derive Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now +0.069%, 7d avg −0.006%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.075% dearer against Derive than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5157	0.0100	pay 0.0013% / 1h	28m 57s	$816K	$76K	10x
Short	Bybit XRPUSDT	1.5167	0.0100	get 0.0100% / 8h	6h 28m	$342.0M	$941.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → −0.006%: $7.52
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.48
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Bybit: live order book, 5 min ago. 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 Bybit live order book, 5 min ago	0.33 bp	7.5 bp −$7	8.7 bp −$87	14.3 bp −$1,431	25.6 bp −$12.8K

Derive: 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 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5162	+0.036%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5166	+0.064%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.023%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5151	−0.036%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0060%	1h	1.5151	−0.039%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.662%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5144	−0.083%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0071%	8h	1.5154	−0.017%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5153	−0.022%	$2.8M	$14.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5154	−0.017%	$517K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5159	+0.016%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5170	+0.092%	$870K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5159	+0.014%	$38.6M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5174	+0.115%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5167	+0.069%	$539.5M	$2.10B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5167	+0.069%	$342.0M	$941.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5167	+0.069%	$124.4M	$873.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5136	−0.135%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5174	+0.115%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.366%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5163	+0.043%	$368.5M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5162	+0.036%	$290.2M	$911.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	+0.041%	$107.0M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	+0.023%	$265.8M	$383.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5156	−0.003%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5152	−0.029%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5154	−0.019%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5144	−0.080%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	+0.029%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5168	+0.079%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5169	+0.082%	$44K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5156	−0.005%	$41K	$69K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5157	long leg	$816K	$76K	10x
SunX XRP-USDT	+0.0100%	8h	1.5173	+0.108%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5145	−0.076%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5163	+0.039%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5151	−0.036%	$53.9M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5172	+0.103%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5159	+0.017%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5147	−0.066%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5170	+0.089%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5149	−0.050%	$7.7M	$25.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5157	+0.005%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5153	−0.023%	$5.7M	$46.6M	50x	as long as short
Hyperliquid XRP	+0.0218%	1h	1.5166	+0.062%	$280.7M	$223.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5159	+0.020%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5163	+0.043%	$2.1M	$35.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0362%	1h	1.5163	+0.043%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5174	+0.116%	$537K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0764%	1h	1.5149	−0.047%	$2K	$14K	10x	as long as short