Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: OKX against Injective−2.281%88s7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as 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−$1031.030% of the position

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)+2.928%+$293 · spread now −2.281%, 7d avg +0.030%

Together, before fees+2.791%+$279 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 2.311% cheaper against Injective than usual: you would sell low and buy high (spread −2.281% now, against its 7-day average of +0.030%). If the spread goes back, that is −$231 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 −0.138%, so the current rate has only just turned in your favour. The two prices were read 88 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	39m 48s	$2K	$107K	30x
Short	OKX XRP-USDT-SWAP	1.5205	0.0100	get 0.0100% / 8h	39m 48s	$128.2M	$874.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −2.281%Rate

Funding earned: $14
Price spread: −2.281% → +0.030%: −$231.13
Slippage, 4 orders: −$93
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$320.15
Costs to cover: 1.030%
Break-even: 167.1 days

Slippage from Injective: live order book, 64 min ago; OKX: live order book, 4 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, 64 min ago	46.17 bp	46.2 bp −$46	59.3 bp −$593	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.33 bp	5.3 bp −$5	7.4 bp −$74	14.3 bp −$1,427	29.3 bp −$14.7K

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	1.5226	−2.147%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	−2.098%	$1.1M	$148K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5220	−2.185%	$7.8M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5219	−2.193%	$246K	—	150x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5212	−2.239%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5202	−2.303%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5204	−2.288%	$601K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5214	−2.224%	$12K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5223	−2.166%	$1.0M	$6.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5212	−2.237%	$38.6M	$86.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5228	−2.132%	$614K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5204	−2.290%	$532.6M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5203	−2.294%	$350.1M	$956.4M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5205	−2.281%	$128.2M	$874.6M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	−2.159%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	−2.140%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−2.374%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5206	−2.275%	$379.1M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5208	−2.262%	$314.8M	$920.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5211	−2.241%	$106.9M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5197	−2.333%	$268.6M	$391.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5202	−2.301%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	−2.150%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5232	−2.109%	$663K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	−1.982%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−1.999%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5227	−2.138%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5220	−2.185%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	−2.200%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5216	−2.211%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5218	−2.196%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5235	−2.085%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5212	−2.237%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	−2.069%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5215	−2.217%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5230	−2.123%	$475K	$55K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0059%	1h	1.5218	−2.200%	$785K	—	200x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5204	−2.286%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5214	−2.224%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5220	−2.185%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5250	−1.995%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0145%	1h	1.5219	−2.192%	$290.3M	$267.5M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0169%	1h	1.5221	−2.179%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5223	−2.166%	$5.7M	$48.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0199%	8h	1.5228	−2.134%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5208	−2.262%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5238	−2.069%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5221	−2.178%	$524K	$806K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	−1.928%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0631%	1h	1.5231	−2.117%	$2K	$16K	10x	as long as short