Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.025%

Price spread now: Backpack against MEXC+0.046%7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$110.113% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 7 days−0.092%−$9 · spread now +0.046%, 7d avg −0.066%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.113% dearer against MEXC than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XRP_USDT	1.5114	0.0100	pay 0.0100% / 8h	4h 50m	$295.5M	$894.1M	300x
Short	Backpack XRP_USDC_PERP	1.5121	0.0155	get 0.0019% / 1h	50m 03s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.046%Rate

Funding earned: $11.46
Price spread: +0.046% → −0.066%: $11.25
Slippage, 4 orders: −$1.32
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $11.39
Costs to cover: 0.113%
Break-even: 0.0 days

Slippage from MEXC: live order book, 4 min ago; Backpack: 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 MEXC live order book, 4 min ago	0.33 bp	0.3 bp $0	0.3 bp −$3	3.4 bp −$339	21.1 bp −$10.6K
Sell Backpack live order book, 4 min ago	0.33 bp	5.3 bp −$5	6.7 bp −$67	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	1.5154	+0.265%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5118	+0.025%	$14.2M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5121	+0.049%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.371%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5122	+0.053%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5123	+0.060%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.951%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0037% / S +0.0033%	1h	1.5123	+0.059%	$787K	—	200x	as long as short
01 Exchange XRPUSD	+0.0040%	1h	1.5124	+0.066%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0079%	8h	1.5120	+0.040%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5122	+0.052%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5123	+0.060%	$509K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5113	−0.007%	$10K	$318K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5134	+0.136%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5123	+0.059%	$280.9M	$224.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5117	+0.021%	$38.2M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5128	+0.094%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5112	−0.013%	$532.3M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5106	−0.053%	$344.1M	$931.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5109	−0.033%	$125.6M	$870.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5144	+0.198%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5126	+0.079%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.333%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5116	+0.013%	$368.4M	$152.4M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5114	long leg	$295.5M	$894.1M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5119	+0.034%	$108.0M	$173.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5113	−0.007%	$267.1M	$383.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5114	0.000%	—	$126.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5129	+0.098%	$5.4M	$37.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5155	+0.274%	$658K	$108.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	+0.318%	$1.1M	$35.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5157	+0.285%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5124	+0.066%	$42K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5124	+0.063%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5120	+0.042%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5129	+0.097%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5121	+0.046%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5119	+0.032%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5120	+0.040%	$54.0M	$30.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5133	+0.124%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5131	+0.111%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5116	+0.010%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5117	+0.023%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERPshort	+0.0155%	1h	1.5121	+0.046%	$1.9M	$1.3M	25x
Hibachi XRP/USDT-P	+0.0160%	1h	1.5136	+0.143%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5129	+0.099%	$5.6M	$47.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5122	+0.053%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	+0.159%	$24.2M	$75.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5139	+0.165%	$2.0M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5128	+0.093%	$515K	$779K	10x	as long as short
Aftermath Perps XRPUSD	+0.0676%	1h	1.5152	+0.252%	$2K	$14K	10x	as long as short