Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: Aster against Injective−1.413%47s7-day average +0.291% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as 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−$1071.068% of the position

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 3 days (all we have)+2.012%+$201 · spread now −1.413%, 7d avg +0.291%

Together, before fees+1.846%+ Points / potential airdropAster: Stage 5 · farm board+$185 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 1.704% cheaper against Injective than usual: you would sell low and buy high (spread −1.413% now, against its 7-day average of +0.291%). If the spread goes back, that is −$170 on $10k: about 3 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.166%, so the current rate has only just turned in your favour. The two prices were read 47 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	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	16m 36s	$2K	$107K	30x
Short	Aster XRPUSDT	1.5340	0.0100	get 0.0100% / 8h	7h 16m	$38.8M	$83.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −1.413%Rate

Funding earned: $14
Price spread: −1.413% → +0.291%: −$170.41
Slippage, 4 orders: −$98.75
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$263.17
Costs to cover: 1.068%
Break-even: 138.6 days

Slippage from Injective: live order book, 57 min ago; Aster: 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 Injective live order book, 57 min ago	39.09 bp	39.1 bp −$39	47.7 bp −$477	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.98 bp	5.0 bp −$5	5.9 bp −$59	15.4 bp −$1,536	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	1.5322	−1.530%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5331	−1.469%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5312	−1.596%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0016% / S +0.0075%	1h	1.5309	−1.612%	$840K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5318	−1.555%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5338	−1.427%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5343	−1.393%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5345	−1.382%	$515K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5331	−1.472%	$9K	$280K	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	1.5340	−1.416%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5338	−1.425%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5340	−1.413%	$38.8M	$83.3M	100x
Pacifica XRP	+0.0100%	1h	1.5343	−1.395%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5337	−1.431%	$542.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5337	−1.433%	$341.9M	$920.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5338	−1.427%	$124.7M	$868.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5317	−1.562%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5341	−1.407%	$117K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−1.835%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5338	−1.427%	$374.2M	$151.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5341	−1.407%	$308.3M	$910.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5338	−1.429%	$110.4M	$166.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5335	−1.446%	$268.4M	$375.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5338	−1.427%	—	$123.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	−1.575%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5316	−1.565%	$667K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5327	−1.497%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5312	−1.594%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5327	−1.497%	$49K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5313	−1.588%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5321	−1.535%	$825K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5314	−1.582%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5321	−1.536%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5313	−1.589%	$50.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5325	−1.510%	$54.5M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5316	−1.568%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5331	−1.470%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5318	−1.557%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0142%	1h	1.5324	−1.517%	$9.3M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5317	−1.560%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−1.523%	$24.1M	$73.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5325	−1.510%	$5.7M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5322	−1.530%	$14.6M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5335	−1.446%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5322	−1.530%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5292	−1.725%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0381%	1h	1.5350	−1.350%	$289.2M	$214.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	−1.542%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0798%	1h	1.5331	−1.474%	$2K	$13K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5339	−1.420%	$543K	$773K	10x	as long as short