Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Binance against dYdX+0.436%49s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as 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−$520.523% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.478%−$48 · spread now +0.436%, 7d avg 0.000%

Together, before fees−0.369%−$37 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 Binance is 0.435% dearer against dYdX than usual: you sell high and buy low: +$44 more if the spread goes back to its 7-day average of 0.000%. The two prices were read 49 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	dYdX XRP-USD	1.5337	0	get 0.0000% / 1h	22m 55s	$1.1M	$99K	10x
Short	Binance XRPUSDT	1.5404	0.0100	get 0.0100% / 8h	2h 22m	$550.7M	$1.84B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.436%Rate

Funding earned: $21
Price spread: +0.436% → 0.000%: $43.54
Slippage, 4 orders: −$32.25
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $12.28
Costs to cover: 0.523%
Break-even: 2.9 days

Slippage from dYdX: live order book, 1 min ago; Binance: live order book, 6 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 dYdX live order book, 1 min ago	15.65 bp	20.7 bp −$21	20.7 bp −$207	34.7 bp −$3,473	146.2 bp −$73.1K
Sell Binance live order book, 6 min ago	0.33 bp	5.3 bp −$5	6.9 bp −$69	14.6 bp −$1,457	29.7 bp −$14.8K

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	1.5341	+0.027%	$7K	$2K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5337	long leg	$1.1M	$99K	10x
Phoenix XRP	0.0000%	1h	1.5320	−0.110%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	+0.150%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.305%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5372	+0.229%	$179K	$788K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0072% / S +0.0185%	1h	1.5358	+0.137%	$905K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5382	+0.294%	$9.3M	$24.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5380	+0.281%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5381	+0.288%	$446K	$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	1.5384	+0.305%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5396	+0.388%	$39.1M	$71.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	+0.014%	$668K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5404	+0.436%	$550.7M	$1.84B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5385	+0.314%	$344.5M	$839.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5386	+0.320%	$124.4M	$837.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.260%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5358	+0.138%	$115K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.885%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	+0.425%	$368.4M	$131.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5401	+0.418%	$290.2M	$808.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5390	+0.347%	$113.1M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5400	+0.412%	$267.6M	$340.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5403	+0.431%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.104%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.441%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	−0.185%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.371%	$1.0M	$850K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	+0.166%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5386	+0.320%	$49K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5359	+0.143%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5374	+0.242%	$828K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5340	+0.023%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5378	+0.268%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5371	+0.219%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5369	+0.210%	$54.8M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5337	−0.001%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5373	+0.236%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5398	+0.401%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5374	+0.241%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5377	+0.262%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0160%	1h	1.5397	+0.392%	$1.7M	$927K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5377	+0.259%	$15.5M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5388	+0.334%	$5.4M	$44.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5371	+0.222%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5364	+0.177%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5373	+0.236%	$23.9M	$67.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5334	−0.016%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5379	+0.274%	$405K	$497K	10x	as long as short
Hyperliquid XRP	+0.0476%	1h	1.5402	+0.425%	$283.3M	$184.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5301	−0.236%	$1K	$11K	10x	as long as short