Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.008%

Price spread now: Injective against edgeX+1.441%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs+$40as in the Price arb table

costs, in and out, $10k−$1031.029% of the position

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 4 days (all we have)−2.203%−$220 · spread now +1.441%, 7d avg +0.012%

Together, before fees−1.955%+ Points / potential airdropedgeX: Active · farm board−$196 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.429% dearer against edgeX than usual: you sell high and buy low (spread +1.441% now, against its 7-day average of +0.012%): +$143 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.248%, 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	1.5339	0.0100	pay 0.0050% / 4h	3h 10m	$666K	$113.7M	30x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	10m 12s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.441%Rate

Funding earned: −$14
Price spread: +1.441% → +0.012%: $142.92
Slippage, 4 orders: −$93.87
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $26.03
Costs to cover: 1.029%
Break-even: from the start

Slippage from edgeX: live order book, 4 min ago; Injective: live order book, 23 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	1.30 bp	5.8 bp −$6	5.9 bp −$59	9.0 bp −$899	doesn't fit
Sell Injective live order book, 23 min ago	36.22 bp	55.0 bp −$55	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_XRPUSD	−0.0169%	1h	1.5410	+0.465%	$14.1M	$75.2M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5400	+0.398%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	+0.072%	$69K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5410	+0.463%	$7.9M	$22.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5389	+0.324%	$250K	—	150x	as long as short
dYdX XRP-USD	+0.0006%	1h	1.5405	+0.433%	$1.1M	$123K	10x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+1.441%	$2K	$107K	30x
01 Exchange XRPUSD	+0.0072%	1h	1.5421	+0.535%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5370	+0.201%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5408	+0.452%	$2.8M	$14.7M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5415	+0.496%	$624K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5409	+0.456%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5412	+0.478%	$481K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5404	+0.421%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5410	+0.465%	$39.1M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5404	+0.422%	$620K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5410	+0.463%	$537.5M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5405	+0.430%	$359.8M	$907.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5403	+0.417%	$126.5M	$841.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5373	+0.222%	$564K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5417	+0.509%	$161K	$702K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5316	−0.151%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5407	+0.443%	$378.8M	$157.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5411	+0.469%	$315.3M	$932.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5407	+0.443%	$108.9M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5405	+0.430%	$273.6M	$361.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5401	+0.404%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5396	+0.371%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5339	long leg	$666K	$113.7M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5356	+0.113%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5347	+0.052%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5407	+0.446%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5414	+0.489%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5406	+0.437%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5403	+0.417%	$78K	$646K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5406	+0.438%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5408	+0.450%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5399	+0.392%	$50.2M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5407	+0.443%	$54.7M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5398	+0.387%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5405	+0.427%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0138% / S −0.0102%	1h	1.5405	+0.428%	$816K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5412	+0.476%	$5.3M	$46.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0173%	8h	1.5413	+0.483%	$1.8M	$32.7M	2.9x	as long as short
Hyperliquid XRP	+0.0183%	1h	1.5430	+0.593%	$295.5M	$266.6M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5388	+0.320%	$23.8M	$78.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5391	+0.340%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0232%	1h	1.5419	+0.522%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5415	+0.493%	$528K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0512%	1h	1.5348	+0.056%	$3K	$15K	10x	as long as short