XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0372%/8h= +40.7% APRnext payment +$0.46 per $10,000 · paid last 24h +0.099%

Price spread now: Hyperliquid against Injective−1.517%7-day average +0.349% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$294as in the Price arb table

costs, in and out, $10k−$1071.071% of the position

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+2.144%+$214 · spread now −1.517%, 7d avg +0.349%

Together, before fees+2.166%+ Points / potential airdropHyperliquid: Season 2 · farm board+$217 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 1.866% cheaper against Injective than usual: you would sell low and buy high (spread −1.517% now, against its 7-day average of +0.349%). If the spread goes back, that is −$187 on $10k: about 17 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.022% in total) that is about 20 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 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	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	40m 51s	$2K	$107K	30x
Short	Hyperliquid XRP	1.5324	0.0405	get 0.0051% / 1h	40m 51s	$289.4M	$216.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −1.517%Rate

Funding earned: $78.05
Price spread: −1.517% → +0.349%: −$186.55
Slippage, 4 orders: −$98.08
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$215.6
Costs to cover: 1.071%
Break-even: 26.3 days

Slippage from Injective: live order book, 33 min ago; Hyperliquid: live order book, 13 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, 33 min ago	39.09 bp	39.1 bp −$39	47.7 bp −$477	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.65 bp	5.1 bp −$5	6.2 bp −$62	9.9 bp −$986	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	1.5310	−1.607%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5311	−1.603%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5312	−1.593%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0011% / S +0.0083%	1h	1.5311	−1.599%	$840K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5317	−1.562%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5321	−1.536%	$9.3M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5322	−1.527%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5327	−1.497%	$512K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5312	−1.594%	$11K	$277K	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	1.5307	−1.626%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5314	−1.581%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5314	−1.582%	$38.8M	$83.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5311	−1.600%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5316	−1.567%	$539.1M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5313	−1.587%	$341.0M	$924.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5314	−1.581%	$124.8M	$872.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5275	−1.832%	$570K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5315	−1.575%	$118K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5306	−1.635%	$1.6M	$562K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5314	−1.581%	$372.9M	$149.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5316	−1.568%	$304.8M	$899.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5310	−1.607%	$108.5M	$166.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5313	−1.587%	$267.7M	$376.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5310	−1.607%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5316	−1.567%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5318	−1.557%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5336	−1.440%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5294	−1.710%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5317	−1.564%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5322	−1.530%	$48K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5316	−1.569%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5320	−1.540%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5320	−1.544%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5319	−1.549%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5308	−1.623%	$50.2M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5319	−1.549%	$54.5M	$29.7M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5313	−1.586%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5316	−1.565%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5316	−1.568%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5316	−1.571%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−1.523%	$24.1M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5325	−1.510%	$5.8M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5318	−1.555%	$14.5M	$70.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0268%	1h	1.5319	−1.549%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5334	−1.452%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5324	−1.517%	$2.0M	$35.2M	2.9x	as long as short
Hyperliquid XRPshort	+0.0405%	1h	1.5324	−1.517%	$289.4M	$216.9M	20x
Phoenix XRP	+0.0520%	1h	1.5350	−1.350%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0776%	1h	1.5325	−1.508%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5318	−1.554%	$506K	$755K	10x	as long as short