XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0086%/8h= −9.4% APRnext payment −$0.11 per $10,000 · paid last 24h −0.102%

Price spread now: Injective against Hyperliquid+2.727%93s7-day average −0.349% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as 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−$990.993% of the position

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 3 days (all we have)−3.353%−$335 · spread now +2.727%, 7d avg −0.349%

Together, before fees−3.379%+ Points / potential airdropHyperliquid: Season 2 · farm board−$338 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 3.075% dearer against Hyperliquid than usual: you sell high and buy low (spread +2.727% now, against its 7-day average of −0.349%): +$308 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−0.025% in total) that is about years. The two prices were read 93 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	Hyperliquid XRP	1.5147	0.0119	pay 0.0015% / 1h	53m 35s	$280.5M	$221.8M	20x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	53m 35s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.727%Rate

Funding earned: −$17.98
Price spread: +2.727% → −0.349%: $307.54
Slippage, 4 orders: −$90.27
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $190.28
Costs to cover: 0.993%
Break-even: from the start

Slippage from Hyperliquid: live order book, 10 min ago; Injective: live order book, 15 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, 10 min ago	0.33 bp	5.2 bp −$5	6.4 bp −$64	12.0 bp −$1,197	doesn't fit
Sell Injective live order book, 15 min ago	22.76 bp	66.1 bp −$66	81.0 bp −$810	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
ApeX Omni XRPUSDT	−0.0111%	1h	1.5197	+0.330%	$1.2M	$1.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5102	−0.297%	$5K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5147	−0.001%	$1.1M	$120K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5097	−0.330%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0021% / S +0.0068%	1h	1.5100	−0.312%	$827K	—	200x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.727%	$2K	$107K	30x
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5130	−0.114%	$14.7M	$72.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0066%	8h	1.5122	−0.165%	$58K	$936K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5144	−0.018%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5151	+0.026%	$518K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5150	+0.020%	$10K	$288K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5093	−0.353%	$894K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5137	−0.069%	$38.3M	$84.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5149	+0.010%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5158	+0.073%	$533.9M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5162	+0.099%	$339.8M	$933.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5160	+0.086%	$122.2M	$867.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5144	−0.020%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5153	+0.040%	$117K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.370%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5149	+0.013%	$365.3M	$148.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5151	+0.026%	$291.4M	$892.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5151	+0.027%	$108.9M	$170.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5147	0.000%	$264.3M	$382.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5147	0.000%	—	$126.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5096	−0.336%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5193	+0.303%	$660K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5109	−0.249%	$1.1M	$38.2M	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5101	−0.302%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5104	−0.284%	$44K	$451K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5105	−0.274%	$41K	$70K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5125	−0.148%	$814K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5119	−0.184%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5133	−0.092%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5097	−0.332%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5130	−0.112%	$53.7M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5143	−0.027%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5147	0.000%	$2.0M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5124	−0.150%	$58K	$25K	3x	as long as short
Hyperliquid XRPlong	+0.0119%	1h	1.5147	long leg	$280.5M	$221.8M	20x
01 Exchange XRPUSD	+0.0120%	1h	1.5158	+0.073%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0213%	1h	1.5140	−0.046%	$9.1M	$25.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5093	−0.354%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5138	−0.059%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5074	−0.482%	$24.0M	$74.5M	125x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5111	−0.238%	$1.9M	$35.4M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5086	−0.400%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0330%	1h	1.5150	+0.020%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5156	+0.059%	$537K	$778K	10x	as long as short
Phoenix XRP	+0.0520%	1h	1.5150	+0.020%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0855%	1h	1.5182	+0.233%	$2K	$13K	10x	as long as short