XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0236%/8h= −25.8% APRnext payment −$0.29 per $10,000 · paid last 24h −0.042%

Price spread now: Coinbase International against Hyperliquid+0.065%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)−0.766%−$77 · spread now +0.065%, 7d avg −0.042%

Together, before fees−0.874%+ Points / potential airdropHyperliquid: Season 2 · farm board−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.107% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.042%): +$11 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 7 days (−0.108% in total) that is about 6.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5282	0.0428	pay 0.0053% / 1h	50m 30s	$285.4M	$174.1M	20x
Short	Coinbase International XRP-PERP-INTX	1.5292	0.0192	get 0.0024% / 1h	50m 30s	$5.3M	$42.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Hyperliquid. 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 HyperliquidbpFee Coinbase InternationalbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$49.53
Price spread: +0.065% → −0.042%: $10.7
Slippage, 4 orders: −$6.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$64.24
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Coinbase International: 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 Hyperliquid live order book, 4 min ago	0.33 bp	4.8 bp −$5	6.3 bp −$63	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	0.33 bp	7.5 bp −$8	10.8 bp −$108	29.3 bp −$2,935	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	1.5286	+0.028%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5287	+0.033%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5272	−0.064%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5300	+0.118%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5288	+0.039%	$9.3M	$23.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5288	+0.037%	$256K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.052%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5281	−0.007%	$180K	$785K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5268	−0.088%	$3.0M	$11.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5269	−0.085%	$443K	$3.1M	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	1.5265	−0.115%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5261	−0.135%	$38.8M	$71.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5268	−0.089%	$672K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5264	−0.118%	$546.5M	$1.83B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5268	−0.092%	$343.0M	$830.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5259	−0.151%	$123.2M	$824.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5294	+0.079%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5264	−0.118%	$115K	$643K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5257	−0.164%	$354.9M	$128.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5257	−0.164%	$295.3M	$786.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5261	−0.139%	$112.0M	$145.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5257	−0.164%	$265.7M	$335.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5260	−0.144%	—	$3.7M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5289	+0.046%	$1.7M	$914K	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5293	+0.069%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5297	+0.096%	$665K	$94.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5308	+0.170%	$1.1M	$42.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5297	+0.098%	$1.0M	$823K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5293	+0.072%	$51K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5285	+0.020%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5287	+0.033%	$823K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5289	+0.046%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5281	−0.007%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5285	+0.020%	$50.3M	$14.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5287	+0.033%	$54.6M	$27.9M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5279	−0.020%	$1.6M	$350K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5260	−0.143%	$476K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5265	−0.108%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5268	−0.092%	$12K	$236K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5255	−0.175%	$2.1M	$7.4M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5288	+0.037%	$71K	$40K	3x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5287	+0.032%	$15.3M	$62.6M	50x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0192%	1h	1.5292	+0.065%	$5.3M	$42.6M	50x
Kalshi KXXRPPERP	+0.0206%	8h	1.5294	+0.079%	$1.7M	$31.9M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5288	+0.040%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5278	−0.026%	$23.9M	$65.6M	125x	as long as short
01 Exchange XRPUSD	+0.0232%	1h	1.5262	−0.131%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5299	+0.109%	$19K	$55K	7x	as long as short
Hyperliquid XRPlong	+0.0428%	1h	1.5282	long leg	$285.4M	$174.1M	20x
RISEx XRP/USDC	+0.0431%	1h	1.5268	−0.092%	$404K	$503K	10x	as long as short
Aftermath Perps XRPUSD	+0.0550%	1h	1.5302	+0.128%	$1K	$10K	10x	as long as short