Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.020%

Price spread now: Injective against KuCoin+1.309%7-day average −0.312% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs+$55as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−1.975%−$197 · spread now +1.309%, 7d avg −0.312%

Together, before fees−1.811%−$181 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.620% dearer against KuCoin than usual: you sell high and buy low (spread +1.309% now, against its 7-day average of −0.312%): +$162 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 17 months. Mind the row above: over the last 7 days funding on this pair paid +0.164%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XRPUSDTM	1.5359	0.0100	pay 0.0100% / 8h	24m 55s	$109.8M	$165.3M	75x
Short	Injective XRP/USDC PERP	1.5560	0.0089	get 0.0011% / 1h	24m 55s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now +1.309%Rate

Funding earned: −$2.27
Price spread: +1.309% → −0.312%: $162.04
Slippage, 4 orders: −$95.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $52.5
Costs to cover: 1.073%
Break-even: from the start

Slippage from KuCoin: live order book, 4 min ago; Injective: live order book, 54 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 KuCoin live order book, 4 min ago	0.03 bp	9.7 bp −$10	11.5 bp −$115	27.6 bp −$2,757	doesn't fit
Sell Injective live order book, 54 min ago	44.99 bp	45.0 bp −$45	57.7 bp −$577	doesn't fit	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	1.5379	+0.130%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	+0.029%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5420	+0.397%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5358	−0.005%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0098%	1h	1.5358	−0.006%	$830K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5373	+0.092%	$15.0M	$69.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5374	+0.098%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5376	+0.111%	$9.4M	$25.6M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0089%	1h	1.5560	+1.309%	$2K	$107K	30x
Lighter XRP	+0.0096%	1h	1.5374	+0.097%	$2.9M	$12.9M	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	1.5377	+0.117%	$439K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5362	+0.023%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5360	+0.009%	$39.1M	$81.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5369	+0.065%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5368	+0.060%	$547.3M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5365	+0.039%	$341.2M	$923.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5365	+0.039%	$125.2M	$881.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5382	+0.150%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	+0.033%	$116K	$757K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.332%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5364	+0.033%	$360.9M	$147.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5368	+0.059%	$291.6M	$884.6M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5359	long leg	$109.8M	$165.3M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5362	+0.020%	$267.3M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5361	+0.013%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.168%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5405	+0.298%	$669K	$104.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.286%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5406	+0.306%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5366	+0.046%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5362	+0.020%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5361	+0.016%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5374	+0.097%	$828K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	+0.068%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5375	+0.104%	$31K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5371	+0.080%	$50.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5372	+0.085%	$54.7M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	+0.054%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5358	−0.007%	$11K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5361	+0.010%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5372	+0.083%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5359	0.000%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5358	−0.008%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5370	+0.072%	$24.3M	$74.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5382	+0.150%	$5.8M	$47.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5372	+0.085%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5383	+0.157%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0305%	8h	1.5373	+0.091%	$1.9M	$34.4M	2.9x	as long as short
Hyperliquid XRP	+0.0589%	1h	1.5381	+0.143%	$292.5M	$212.2M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5369	+0.066%	$499K	$635K	10x	as long as short
Aftermath Perps XRPUSD	+0.0791%	1h	1.5417	+0.377%	$1K	$11K	10x	as long as short