XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0512%/8h= −56.0% APRnext payment −$0.64 per $10,000 · paid last 24h −0.069%

Price spread now: Nado against Hyperliquid−0.255%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Hyperliquid Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 7 days+0.285%+$29 · spread now −0.255%, 7d avg −0.012%

Together, before fees+0.194%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Nado is 0.243% cheaper against Hyperliquid than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.091% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.64 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	1.5654	0.0612	pay 0.0076% / 1h	55m 58s	$296.0M	$208.2M	20x
Short	Nado XRP-PERP	1.5614	0.0100	get 0.0012% / 1h	55m 58s	$1.1M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.255%Rate

Funding earned: −$107.42
Price spread: −0.255% → −0.012%: −$24.28
Slippage, 4 orders: −$4.35
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$152.05
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Nado: live order book, 3 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, 8 min ago	0.32 bp	5.2 bp −$5	6.2 bp −$62	11.9 bp −$1,192	doesn't fit
Sell Nado live order book, 3 min ago	0.32 bp	5.2 bp −$5	9.2 bp −$92	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5604	−0.322%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5606	−0.310%	$1.1M	$113K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0003% / S +0.0109%	1h	1.5621	−0.211%	$859K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5623	−0.199%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0006%	1h	1.5635	−0.124%	$9.6M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5636	−0.119%	$15.7M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5628	−0.169%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.603%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5634	−0.133%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5638	−0.105%	$446K	$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-PERPshort	+0.0100%	1h	1.5614	−0.255%	$1.1M	$5.4M	20x
Aster XRPUSDT	+0.0100%	8h	1.5639	−0.099%	$39.7M	$79.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5613	−0.264%	$643K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5644	−0.064%	$562.4M	$2.00B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5644	−0.066%	$349.0M	$908.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5641	−0.085%	$128.1M	$891.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5593	−0.392%	$580K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5614	−0.258%	$119K	$748K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5637	−0.111%	$374.8M	$142.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5637	−0.111%	$307.8M	$856.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5625	−0.186%	$114.1M	$161.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5644	−0.066%	$273.6M	$368.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5640	−0.092%	—	$120.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5530	−0.792%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5558	−0.617%	$679K	$102.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5558	−0.614%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5549	−0.673%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5606	−0.309%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5626	−0.181%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5623	−0.201%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5630	−0.158%	$841K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5637	−0.110%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5632	−0.143%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5631	−0.149%	$51.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5631	−0.149%	$55.6M	$29.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5562	−0.593%	$1.7M	$573K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5610	−0.282%	$487K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5617	−0.239%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5641	−0.086%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5632	−0.143%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5618	−0.232%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5624	−0.191%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5596	−0.373%	$24.5M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5642	−0.079%	$6.0M	$48.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5591	−0.406%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5621	−0.213%	$2.0M	$33.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0390%	1h	1.5647	−0.047%	$1.7M	$1.0M	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5530	−0.795%	$69K	$89K	15x	as long as short
Hyperliquid XRPlong	+0.0612%	1h	1.5654	long leg	$296.0M	$208.2M	20x
RISEx XRP/USDC	+0.0761%	1h	1.5623	−0.203%	$509K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0771%	1h	1.5569	−0.545%	$1K	$11K	10x	as long as short