Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Derive against Nado−0.069%7-day average −0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%−$1 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now −0.069%, 7d avg −0.002%

Together, before fees−0.097%+ Points / potential airdropNado: Active · farm board−$10 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: Derive is 0.067% cheaper against Nado than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5486	0.0100	pay 0.0012% / 1h	31m 04s	$1.1M	$5.4M	20x
Short	Derive XRP-PERP	1.5476	0.0100	get 0.0013% / 1h	31m 04s	$833K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.002%: −$6.69
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Derive: 3 bp × 2 orders: −$6
Net: −$19.69
Costs to cover: 0.130%
Break-even: 2023035259008739.8 days

Slippage unknown: Nado: live order book, 3 min ago; Derive: no order-book sample. Net counts fees only.

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	0.32 bp	3.8 bp −$4	12.1 bp −$121	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5499	+0.081%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5497	+0.069%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5477	−0.061%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5483	−0.025%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.269%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0042%	1h	1.5475	−0.074%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5473	−0.087%	$77K	$942K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0127%	1h	1.5482	−0.031%	$912K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5475	−0.074%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5473	−0.087%	$438K	$3.2M	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	1.5486	long leg	$1.1M	$5.4M	20x
Aster XRPUSDT	+0.0100%	8h	1.5471	−0.101%	$39.1M	$77.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5497	+0.068%	$669K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5469	−0.114%	$557.0M	$1.96B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5466	−0.132%	$346.0M	$888.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5466	−0.132%	$126.7M	$871.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5515	+0.184%	$577K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5498	+0.074%	$118K	$737K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+1.269%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5475	−0.074%	$372.7M	$139.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5477	−0.061%	$289.7M	$843.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5475	−0.072%	$113.0M	$158.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5477	−0.061%	$269.8M	$360.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5478	−0.055%	—	$117.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.699%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5531	+0.289%	$674K	$101.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5554	+0.439%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5529	+0.274%	$1.0M	$882K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5490	+0.023%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5492	+0.036%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5486	−0.003%	$42K	$65K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5476	−0.069%	$833K	$79K	10x
SunX XRP-USDT	+0.0100%	8h	1.5482	−0.030%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5478	−0.055%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5469	−0.111%	$50.8M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5477	−0.061%	$55.1M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5491	+0.032%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5494	+0.048%	$12K	$250K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5469	−0.114%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5476	−0.066%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5498	+0.074%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5506	+0.124%	$18K	$81K	7x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5488	+0.008%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5482	−0.029%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5470	−0.107%	$24.6M	$73.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0252%	1h	1.5482	−0.029%	$1.8M	$994K	25x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5493	+0.042%	$1.9M	$32.6M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5570	+0.539%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5503	+0.105%	$508K	$626K	10x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5493	+0.042%	$289.3M	$201.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0719%	1h	1.5563	+0.495%	$1K	$11K	10x	as long as short