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 MEXC−0.064%7-day average −0.301% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$910.906% of the position

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 3 days (all we have)−0.607%−$61 · spread now −0.064%, 7d avg −0.301%

Together, before fees−0.431%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.236% dearer against MEXC than usual: you sell high and buy low (spread −0.064% now, against its 7-day average of −0.301%): +$24 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.176%, 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	MEXC XRP_USDT	1.5570	0.0100	pay 0.0100% / 8h	47m 23s	$300.9M	$866.6M	300x
Short	Injective XRP/USDC PERP	1.5560	0.0089	get 0.0011% / 1h	47m 23s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.064%Rate

Funding earned: −$2.27
Price spread: −0.064% → −0.301%: $23.63
Slippage, 4 orders: −$90.61
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$69.27
Costs to cover: 0.906%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Injective: live order book, 31 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, 2 min ago	0.32 bp	0.3 bp $0	0.3 bp −$3	4.0 bp −$398	22.7 bp −$11.4K
Sell Injective live order book, 31 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	1.5571	+0.006%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	+0.026%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.514%	$70K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5567	−0.020%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5568	−0.012%	$856K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5576	+0.039%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5584	+0.089%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5570	0.000%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERPshort	+0.0089%	1h	1.5560	−0.064%	$2K	$107K	30x
Lighter XRP	+0.0096%	1h	1.5584	+0.089%	$3.0M	$12.5M	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	1.5586	+0.103%	$444K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5571	+0.004%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5568	−0.013%	$39.5M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5579	+0.055%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5569	−0.006%	$557.5M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5568	−0.013%	$346.3M	$912.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5569	−0.006%	$127.2M	$889.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.013%	$582K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5572	+0.013%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.405%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5562	−0.051%	$371.9M	$143.2M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5570	long leg	$300.9M	$866.6M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5565	−0.034%	$113.3M	$162.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5573	+0.019%	$272.3M	$369.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5565	−0.032%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.408%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	+0.147%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	+0.225%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.450%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.008%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5570	0.000%	$48K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5571	+0.006%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5573	+0.022%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5578	+0.050%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5579	+0.058%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.022%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5580	+0.064%	$55.4M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5570	−0.002%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5574	+0.026%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5570	−0.002%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5575	+0.029%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5571	+0.006%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5562	−0.054%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	+0.096%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5588	+0.116%	$5.9M	$47.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5580	+0.067%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5568	−0.013%	$1.9M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0383%	1h	1.5583	+0.083%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0601%	1h	1.5586	+0.103%	$297.0M	$208.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5579	+0.055%	$508K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5606	+0.231%	$1K	$11K	10x	as long as short