Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: MEXC against Injective−2.134%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$306as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 4 days (all we have)+3.107%+$311 · spread now −2.134%, 7d avg +0.005%

Together, before fees+2.935%+$293 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 2.139% cheaper against Injective than usual: you would sell low and buy high (spread −2.134% now, against its 7-day average of +0.005%). If the spread goes back, that is −$214 on $10k: about 4 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.172%, 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	48m 35s	$2K	$107K	30x
Short	MEXC XRP_USDT	1.5228	0.0100	get 0.0100% / 8h	7h 48m	$314.3M	$912.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −2.134%Rate

Funding earned: $14
Price spread: −2.134% → +0.005%: −$213.9
Slippage, 4 orders: −$92.02
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$291.93
Costs to cover: 0.920%
Break-even: 153.0 days

Slippage from Injective: live order book, 50 min ago; MEXC: live order book, 6 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, 50 min ago	39.42 bp	39.4 bp −$39	48.2 bp −$482	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	0.33 bp	0.3 bp $0	0.4 bp −$4	5.0 bp −$500	27.3 bp −$13.6K

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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5228	−2.133%	$14.8M	$76.0M	50x	as long as short
Phemex XRPUSDT	−0.0084%	8h	1.5217	−2.204%	$54.3M	$32.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5218	−2.198%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5227	−2.139%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5240	−2.057%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5227	−2.140%	$7.7M	$23.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5223	−2.168%	$247K	—	150x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Hibachi XRP/USDT-P	+0.0072%	1h	1.5233	−2.104%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5228	−2.133%	$2.8M	$14.5M	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	1.5232	−2.108%	$608K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5230	−2.121%	$20K	$382K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5227	−2.137%	$997K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5236	−2.082%	$38.6M	$85.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5230	−2.121%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5238	−2.069%	$531.2M	$2.20B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5235	−2.089%	$353.2M	$945.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5237	−2.076%	$127.2M	$860.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5207	−2.269%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	−2.057%	$144K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5227	−2.137%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5229	−2.127%	$379.6M	$151.7M	100x	as long as short
MEXC XRP_USDTshort	+0.0100%	8h	1.5228	−2.134%	$314.3M	$912.5M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5228	−2.131%	$106.6M	$183.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	−2.095%	$270.3M	$384.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5219	−2.192%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	−2.147%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5214	−2.222%	$661K	$112.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5218	−2.198%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5223	−2.166%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5237	−2.074%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5238	−2.069%	$52K	$513K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5225	−2.153%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5226	−2.147%	$78K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5225	−2.153%	$819K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5231	−2.112%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5224	−2.159%	$28K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5223	−2.165%	$49.7M	$15.2M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5233	−2.101%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5224	−2.161%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5224	−2.162%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0114% / S −0.0078%	1h	1.5223	−2.165%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5241	−2.050%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5227	−2.140%	$5.6M	$48.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5230	−2.121%	$1.7M	$33.5M	2.9x	as long as short
Hyperliquid XRP	+0.0205%	1h	1.5241	−2.050%	$291.1M	$267.7M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5222	−2.172%	$23.7M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5231	−2.113%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0268%	1h	1.5238	−2.069%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5239	−2.064%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0534%	1h	1.5214	−2.222%	$3K	$16K	10x	as long as short