Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.001%

Price spread now: Deribit against edgeX−0.129%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.129%, 7d avg +0.037%

Together, before fees+0.391%+ Points / potential airdropedgeX: Active · farm board+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.166% cheaper against edgeX than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.221%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XRPUSDC	1.5193	0.0100	pay 0.0050% / 4h	3h 54m	$660K	$112.7M	30x
Short	Deribit XRP_USDC-PERPETUAL	1.5173	0.0014	get 0.0002% / 1h	54m 54s	$7.7M	$23.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$18.06
Price spread: −0.129% → +0.037%: −$16.6
Slippage, 4 orders: −$5.63
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.29
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Deribit: live order book, 4 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 edgeX live order book, 4 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	8.4 bp −$842	doesn't fit
Sell Deribit live order book, 4 min ago	0.33 bp	5.4 bp −$5	8.3 bp −$83	126.5 bp −$12.7K	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5184	−0.055%	$14.3M	$74.4M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5188	−0.030%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5157	−0.231%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5169	−0.156%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0014%	1h	1.5173	−0.129%	$7.7M	$23.9M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.419%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5205	+0.079%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5181	−0.079%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5188	−0.030%	$606K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5158	−0.227%	$20K	$382K	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	1.5164	−0.184%	$995K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5216	+0.154%	$38.6M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5163	−0.192%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5217	+0.160%	$530.8M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5210	+0.115%	$352.9M	$949.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5210	+0.115%	$127.0M	$865.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5203	+0.069%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5172	−0.135%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.020%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5214	+0.141%	$379.5M	$151.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5217	+0.161%	$312.4M	$911.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5215	+0.149%	$106.6M	$183.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5216	+0.154%	$269.8M	$388.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5211	+0.122%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5181	−0.076%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5193	long leg	$660K	$112.7M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	−0.025%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5173	−0.129%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5177	−0.102%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5167	−0.168%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5173	−0.128%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5168	−0.161%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.092%	$818K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5169	−0.158%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5179	−0.089%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5188	−0.029%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5190	−0.017%	$54.1M	$32.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5168	−0.162%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5209	+0.110%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	−0.165%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0112% / S −0.0075%	1h	1.5172	−0.138%	$786K	—	200x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5165	−0.181%	$8K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5186	−0.043%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0163%	8h	1.5175	−0.115%	$1.7M	$33.6M	2.9x	as long as short
Hyperliquid XRP	+0.0202%	1h	1.5203	+0.069%	$290.3M	$268.4M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5190	−0.017%	$23.9M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5165	−0.184%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0247%	1h	1.5200	+0.049%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5167	−0.165%	$520K	$796K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	−0.082%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0553%	1h	1.5181	−0.075%	$2K	$16K	10x	as long as short