Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.002%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.002%, 7d avg +0.033%

Together, before fees−0.036%+ Points / potential airdropExtended: Active · farm board−$4 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 0.035% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XRP-USD	1.5306	0.0104	pay 0.0013% / 1h	39m 24s	$2.1M	$7.1M	50x
Short	Bybit XRPUSDT	1.5306	0.0100	get 0.0100% / 8h	7h 39m	$340.9M	$924.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$0.84
Price spread: −0.002% → +0.033%: −$3.51
Slippage, 4 orders: −$2.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.81
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bybit: 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 Extended live order book, 5 min ago	0.33 bp	3.4 bp −$3	5.7 bp −$57	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.33 bp	5.8 bp −$6	7.5 bp −$75	13.2 bp −$1,315	26.8 bp −$13.4K

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	1.5314	+0.050%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5310	+0.022%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5292	−0.094%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0012% / S +0.0083%	1h	1.5296	−0.065%	$839K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.657%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5324	+0.115%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5324	+0.115%	$9.3M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5314	+0.048%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5317	+0.070%	$512K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5307	+0.004%	$11K	$277K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5312	+0.035%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5306	−0.002%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5314	+0.050%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5315	+0.056%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5306	−0.002%	$538.7M	$2.06B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5306	−0.002%	$340.9M	$924.1M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5305	−0.009%	$124.8M	$871.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5328	+0.141%	$570K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5314	+0.050%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5306	−0.005%	$1.6M	$562K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5311	+0.030%	$373.2M	$149.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5301	−0.035%	$305.7M	$900.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5306	−0.005%	$108.5M	$166.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5303	−0.022%	$267.6M	$375.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5309	+0.017%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5316	+0.064%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5315	+0.059%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5336	+0.194%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5315	+0.056%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5308	+0.012%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5311	+0.030%	$48K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5300	−0.040%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5325	+0.121%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5329	+0.147%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5323	+0.109%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5325	+0.119%	$50.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5323	+0.109%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USDlong	+0.0104%	1h	1.5306	long leg	$2.1M	$7.1M	50x
Aevo XRP-PERP	+0.0104%	1h	1.5322	+0.102%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5307	+0.004%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5302	−0.026%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	+0.109%	$24.1M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5331	+0.161%	$5.8M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5321	+0.097%	$14.5M	$70.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0273%	1h	1.5331	+0.161%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5321	+0.097%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5323	+0.109%	$2.0M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0402%	1h	1.5320	+0.089%	$289.3M	$214.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.285%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0778%	1h	1.5317	+0.073%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5313	+0.042%	$506K	$755K	10x	as long as short