Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Nado−1.186%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Nado Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+1.165%+$116 · spread now −1.186%, 7d avg −0.017%

Together, before fees+1.165%+ Points / potential airdropNado: Active · farm board+$116 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 1.169% cheaper against Nado than usual: you would sell low and buy high, −$117 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5384	0.0100	pay 0.0012% / 1h	23m 17s	$1.1M	$5.2M	20x
Short	Bulk XRP-USD	1.5201	0.0100	get 0.0013% / 1h	23m 17s	$1.6M	$350K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Nado. 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 NadobpFee BulkbpOrdersPrice spread, now −1.186%Rate

Funding earned: $0
Price spread: −1.186% → −0.017%: −$116.9
Slippage, 4 orders: −$2.59
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$133.49
Costs to cover: 0.166%
Break-even: 13714268890051092.0 days

Slippage from Nado: live order book, 6 min ago; Bulk: live order book, 1 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 Nado live order book, 6 min ago	0.66 bp	4.4 bp −$4	9.2 bp −$92	42.6 bp −$4,258	doesn't fit
Sell Bulk live order book, 1 min ago	0.33 bp	3.8 bp −$4	6.2 bp −$62	13.8 bp −$1,380	30.0 bp −$15.0K

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	1.5341	−0.277%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5337	−0.304%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.414%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.155%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.609%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5372	−0.076%	$179K	$788K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0072% / S +0.0185%	1h	1.5358	−0.167%	$905K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5382	−0.011%	$9.3M	$24.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5380	−0.024%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5381	−0.017%	$446K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERPlong	+0.0100%	1h	1.5384	long leg	$1.1M	$5.2M	20x
Aster XRPUSDT	+0.0100%	8h	1.5371	−0.081%	$39.0M	$71.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	−0.290%	$668K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5384	+0.002%	$550.0M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5373	−0.069%	$344.1M	$838.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5375	−0.056%	$124.3M	$836.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.563%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5358	−0.167%	$115K	$647K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5201	−1.186%	$1.6M	$350K	20x
Gate XRP_USDT	+0.0100%	8h	1.5369	−0.095%	$368.5M	$131.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5372	−0.076%	$289.5M	$807.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5358	−0.165%	$112.8M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5378	−0.037%	$267.5M	$340.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5360	−0.154%	—	$113.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.407%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.744%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	−0.488%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.674%	$1.0M	$850K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.139%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5386	+0.015%	$49K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5359	−0.162%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5374	−0.063%	$828K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5340	−0.281%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5378	−0.037%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5371	−0.085%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5369	−0.095%	$54.8M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5337	−0.305%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5373	−0.069%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5376	−0.053%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5374	−0.064%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5377	−0.043%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0157%	1h	1.5349	−0.225%	$1.7M	$925K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5377	−0.046%	$15.5M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5388	+0.028%	$5.4M	$44.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5371	−0.082%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5364	−0.128%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5373	−0.069%	$23.9M	$67.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5334	−0.320%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5379	−0.031%	$405K	$497K	10x	as long as short
Hyperliquid XRP	+0.0474%	1h	1.5399	+0.098%	$283.4M	$184.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5301	−0.540%	$1K	$11K	10x	as long as short