Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.033%
Price spread now: Backpack against GRVT−0.503%85s7-day average −0.133% · you buy dearer than you sell
Net, funding: paid 7d − costs−$17as 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−$210.215% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 7 days−0.205%−$21 · spread now −0.503%, 7d avg −0.133%
=Together, before fees−0.164%+ Points / potential airdropGRVT: Active · farm board−$16 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: Backpack is 0.370% cheaper against GRVT than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.133%. The two prices were read 85 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 | GRVT XRP_USDT_Perp | 1.5308 | 0.0100 | pay 0.0100% / 8h | 2h 49m | $1.1M | $42.4M | 20x |
| Short | Backpack XRP_USDC_PERP | 1.5231 | 0.0100 | get 0.0013% / 1h | 49m 41s | $1.7M | $914K | 25x |
GRVT XRP_USDT_Perp
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.503% → −0.133%
- −$37
- Slippage, 4 orders
- −$2.47
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$58.47
- Costs to cover
- 0.215%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 4 min ago; Backpack: 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 GRVT live order book, 4 min ago | 0.33 bp | 5.9 bp −$6 | 8.2 bp −$82 | 63.9 bp −$6,392 | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.33 bp | 5.3 bp −$5 | 7.5 bp −$75 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX XRP/USD [ETH-USDC] | L −0.0211% / S +0.0297% | 1h | 1.5251 | −0.375% | $1.7M | — | 200x | as long as short |
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5287 | −0.137% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5213 | −0.620% | $1.1M | $101K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5300 | −0.052% | $68K | $89K | 15x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5231 | −0.503% | $9.3M | $23.4M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5251 | −0.371% | $255K | — | 150x | as long as short |
| Injective XRP/USDC PERP | +0.0040% | 1h | 1.5290 | −0.117% | $2K | $86K | 30x | as long as short |
| Orderly PERP_XRP_USDC | +0.0047% | 8h | 1.5235 | −0.477% | $179K | $785K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5205 | −0.673% | $2.9M | $11.1M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5221 | −0.568% | $442K | $3.1M | 20x | as long as short |
GMX XRP/USD [ETH-USDC]
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
Injective XRP/USDC PERP
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5265 | −0.284% | $1.1M | $5.1M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5226 | −0.533% | $38.7M | $71.3M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5211 | −0.633% | $662K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5205 | −0.671% | $544.4M | $1.83B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5209 | −0.646% | $341.2M | $833.0M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5207 | −0.660% | $122.9M | $822.0M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5185 | −0.803% | $568K | $40K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5214 | −0.614% | $115K | $643K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5209 | −0.646% | $353.8M | $128.3M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5209 | −0.646% | $288.2M | $789.1M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5206 | −0.666% | $111.6M | $145.5M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5207 | −0.660% | $264.5M | $336.4M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5207 | −0.660% | — | $112.6M | — | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0100% | 1h | 1.5231 | −0.503% | $1.7M | $914K | 25x | |
| Variational Omni XRP | +0.0100% | 8h | 1.5293 | −0.100% | $6.3M | $24.4M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5297 | −0.074% | $665K | $94.4M | 30x | as long as short |
| GRVT XRP_USDT_Perplong | +0.0100% | 8h | 1.5308 | long leg | $1.1M | $42.4M | 20x | |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5297 | −0.072% | $1.0M | $823K | 50x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5271 | −0.241% | $51K | $456K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5251 | −0.372% | $42K | $60K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5245 | −0.412% | $821K | $70K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5272 | −0.234% | $128K | $1.7M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5224 | −0.548% | $31K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5215 | −0.610% | $50.1M | $14.4M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5220 | −0.575% | $54.4M | $27.9M | 50x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5279 | −0.189% | $1.6M | $350K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5209 | −0.645% | $474K | $54K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5265 | −0.278% | — | $10K | 10x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5217 | −0.594% | $11K | $244K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5205 | −0.670% | $2.1M | $7.2M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5232 | −0.497% | $71K | $40K | 3x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0171% | 1h | 1.5223 | −0.555% | $15.2M | $62.7M | 50x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0192% | 1h | 1.5231 | −0.503% | $5.3M | $42.4M | 50x | as long as short |
| Kalshi KXXRPPERP | +0.0206% | 8h | 1.5249 | −0.385% | $1.7M | $31.9M | 2.9x | as long as short |
| Reya XRPRUSDPERP | +0.0210% | 1h | 1.5258 | −0.326% | $1.3M | $10K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5278 | −0.196% | $23.9M | $65.6M | 125x | as long as short |
| 01 Exchange XRPUSD | +0.0232% | 1h | 1.5262 | −0.300% | $8K | $8K | 10x | as long as short |
| Hibachi XRP/USDT-P | +0.0256% | 1h | 1.5287 | −0.137% | $19K | $55K | 7x | as long as short |
| Hyperliquid XRP | +0.0420% | 1h | 1.5234 | −0.483% | $282.7M | $175.2M | 20x | as long as short |
| RISEx XRP/USDC | +0.0431% | 1h | 1.5216 | −0.598% | $402K | $503K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0552% | 1h | 1.5296 | −0.075% | $1K | $10K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
ApeX Omni XRPUSDT
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Bulk XRP-USD
Paradex XRP-USD-PERP
Vest XRP-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
Kraken Futures PF_XRPUSD
Coinbase International XRP-PERP-INTX
Kalshi KXXRPPERP
Reya XRPRUSDPERP
BloFin XRP-USDT
01 Exchange XRPUSD
Hibachi XRP/USDT-P
Hyperliquid XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD