Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against dYdX+0.144%47s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as 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−$760.763% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.144%, 7d avg +0.012%

Together, before fees+0.014%+$1 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 KuCoin is 0.132% dearer against dYdX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.012%. The two prices were read 47 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	1.5315	0	get 0.0000% / 1h	28m 52s	$1.1M	$112K	10x
Short	KuCoin XRPUSDTM	1.5337	0.0100	get 0.0100% / 8h	7h 28m	$108.9M	$165.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.144%Rate

Funding earned: $21
Price spread: +0.144% → +0.012%: $13.19
Slippage, 4 orders: −$54.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$42.07
Costs to cover: 0.763%
Break-even: 21.0 days

Slippage from dYdX: live order book, just now; KuCoin: live order book, 5 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, just now	22.19 bp	31.0 bp −$31	53.5 bp −$535	90.8 bp −$9,076	169.0 bp −$84.5K
Sell KuCoin live order book, 5 min ago	0.03 bp	6.8 bp −$7	10.7 bp −$107	34.5 bp −$3,450	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	1.5328	+0.084%	$7K	$2K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5315	long leg	$1.1M	$112K	10x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5320	+0.029%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5318	+0.017%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.598%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5329	+0.090%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5330	+0.097%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5328	+0.086%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5330	+0.097%	$514K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5323	+0.051%	$8K	$8K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5317	+0.012%	$10K	$277K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5317	+0.010%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5318	+0.022%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5334	+0.125%	$38.7M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5321	+0.038%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5339	+0.154%	$541.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5335	+0.129%	$341.9M	$919.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5342	+0.175%	$124.9M	$868.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	+0.195%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5323	+0.051%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.126%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5337	+0.142%	$374.4M	$149.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5337	+0.142%	$311.2M	$903.7M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5337	+0.144%	$108.9M	$165.3M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5345	+0.195%	$268.6M	$374.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5335	+0.129%	—	$123.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	+0.084%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5333	+0.113%	$666K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	+0.123%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5321	+0.038%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5322	+0.045%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5325	+0.064%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5322	+0.042%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5330	+0.094%	$825K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5326	+0.072%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5327	+0.077%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5325	+0.066%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5322	+0.044%	$54.5M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5333	+0.118%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5326	+0.069%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5318	+0.020%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	+0.090%	$24.0M	$73.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5334	+0.123%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5323	+0.054%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5336	+0.136%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5340	+0.162%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5319	+0.027%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0399%	1h	1.5340	+0.162%	$289.7M	$214.6M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	+0.162%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0806%	1h	1.5328	+0.086%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5327	+0.074%	$506K	$754K	10x	as long as short