Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Bitget against Injective−2.641%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$376as in the Price arb table

costs, in and out, $10k−$1051.053% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)+3.201%+$320 · spread now −2.641%, 7d avg +0.064%

Together, before fees+3.071%+$307 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 2.705% cheaper against Injective than usual: you would sell low and buy high (spread −2.641% now, against its 7-day average of +0.064%). If the spread goes back, that is −$271 on $10k: about 5 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.131%, so the current rate has only just turned in your favour.

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	38m 57s	$2K	$107K	30x
Short	Bitget XRPUSDT	1.5149	0.0100	get 0.0100% / 8h	1h 38m	$267.3M	$398.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −2.641%Rate

Funding earned: $14
Price spread: −2.641% → +0.064%: −$270.53
Slippage, 4 orders: −$93.25
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$361.8
Costs to cover: 1.053%
Break-even: 187.9 days

Slippage from Injective: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago	46.17 bp	46.2 bp −$46	59.3 bp −$593	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.33 bp	6.6 bp −$7	8.7 bp −$87	14.0 bp −$1,404	32.6 bp −$16.3K

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	1.5136	−2.725%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5135	−2.732%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−2.635%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5137	−2.717%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5154	−2.610%	$14.4M	$75.3M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
01 Exchange XRPUSD	+0.0080%	1h	1.5139	−2.706%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5151	−2.629%	$7.7M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S −0.0030%	1h	1.5151	−2.627%	$798K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5154	−2.611%	$2.8M	$15.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5153	−2.616%	$545K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5133	−2.744%	$13K	$368K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5133	−2.745%	$985K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5147	−2.653%	$38.5M	$87.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5135	−2.729%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5151	−2.629%	$531.0M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5148	−2.648%	$345.2M	$964.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5152	−2.622%	$127.2M	$888.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−2.629%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5142	−2.686%	$143K	$720K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5145	−2.667%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5148	−2.648%	$372.6M	$159.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5152	−2.622%	$298.4M	$922.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5150	−2.634%	$107.1M	$182.0M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5149	−2.641%	$267.3M	$398.4M	125x
BingX XRP-USDC	+0.0100%	8h	1.5142	−2.686%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−2.649%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5150	−2.634%	$658K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5151	−2.626%	$1.1M	$36.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	−2.596%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5144	−2.674%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5143	−2.680%	$47K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5141	−2.695%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5144	−2.674%	$65K	$774K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	−2.668%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	−2.666%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5150	−2.635%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5137	−2.715%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5153	−2.616%	$54.2M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5142	−2.689%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5145	−2.666%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5144	−2.674%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0156%	1h	1.5159	−2.577%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5145	−2.666%	$17K	$79K	7x	as long as short
Hyperliquid XRP	+0.0168%	1h	1.5161	−2.564%	$288.2M	$264.6M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5157	−2.590%	$5.7M	$48.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5150	−2.635%	$1.7M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5136	−2.725%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5154	−2.609%	$23.5M	$77.9M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5139	−2.704%	$522K	$797K	10x	as long as short
Aftermath Perps XRPUSD	+0.0576%	1h	1.5148	−2.648%	$2K	$16K	10x	as long as short