Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Nado+0.010%7-day average −0.032% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.010%, 7d avg −0.032%

Together, before fees−0.055%+ Points / potential airdropNado: Active · farm board−$6 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: Bybit is 0.042% dearer against Nado than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5192	0.0100	pay 0.0012% / 1h	25m 55s	$890K	$5.9M	20x
Short	Bybit XRPUSDT	1.5194	0.0100	get 0.0100% / 8h	6h 25m	$342.2M	$940.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.032%: $4.23
Slippage, 4 orders: −$2.94
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.7
Costs to cover: 0.209%
Break-even: 1716018428623468.8 days

Slippage from Nado: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	0.33 bp	4.0 bp −$4	8.4 bp −$84	42.3 bp −$4,229	doesn't fit
Sell Bybit live order book, 3 min ago	0.33 bp	6.2 bp −$6	7.7 bp −$77	13.3 bp −$1,327	25.2 bp −$12.6K

XRP on 50 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	1.5184	−0.056%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5182	−0.067%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	−0.214%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5197	+0.030%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0059%	1h	1.5197	+0.028%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.419%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5203	+0.067%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5203	+0.069%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5204	+0.078%	$2.8M	$14.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5206	+0.089%	$518K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5188	−0.030%	$11K	$307K	20x	as long as short
Nado XRP-PERPlong	+0.0100%	1h	1.5192	long leg	$890K	$5.9M	20x
Aster XRPUSDT	+0.0100%	8h	1.5205	+0.081%	$38.7M	$84.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5193	+0.002%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5195	+0.018%	$539.0M	$2.10B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5194	+0.010%	$342.2M	$940.4M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5197	+0.030%	$124.8M	$874.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.122%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5199	+0.043%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.020%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5193	+0.003%	$369.6M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5194	+0.010%	$292.1M	$912.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5194	+0.008%	$107.3M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5195	+0.016%	$266.5M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5194	+0.010%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	+0.043%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.187%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5164	−0.188%	$1.1M	$38.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.089%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5195	+0.016%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5200	+0.049%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5202	+0.060%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.090%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5210	+0.116%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5203	+0.069%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5207	+0.093%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.063%	$54.1M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5195	+0.017%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5195	+0.018%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5201	+0.059%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5201	+0.056%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0211%	1h	1.5206	+0.089%	$7.7M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5199	+0.041%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5210	+0.115%	$5.7M	$46.8M	50x	as long as short
Hyperliquid XRP	+0.0218%	1h	1.5204	+0.076%	$281.3M	$223.5M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5174	−0.120%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5199	+0.043%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0364%	1h	1.5215	+0.148%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5201	+0.055%	$536K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0752%	1h	1.5164	−0.185%	$2K	$14K	10x	as long as short