Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bulk against OKX−0.641%7-day average +0.011% · 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−$85as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on OKX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days+0.634%+$63 · spread now −0.641%, 7d avg +0.011%

Together, before fees+0.643%+$64 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 0.653% cheaper against OKX than usual: you would sell low and buy high, −$65 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XRP-USDT-SWAP	1.5662	0.0100	pay 0.0100% / 8h	52m 27s	$128.2M	$893.8M	100x
Short	Bulk XRP-USD	1.5562	0.0100	get 0.0013% / 1h	52m 27s	$1.7M	$573K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against OKX. 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 OKXbpFee BulkbpOrdersPrice spread, now −0.641%Rate

Funding earned: $0
Price spread: −0.641% → +0.011%: −$65.26
Slippage, 4 orders: −$2.76
Fee OKX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$85.02
Costs to cover: 0.198%
Break-even: 174687037320798240.0 days

Slippage from OKX: live order book, 2 min ago; Bulk: live order book, 2 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 OKX live order book, 2 min ago	0.32 bp	6.4 bp −$6	8.7 bp −$87	17.8 bp −$1,783	33.1 bp −$16.5K
Sell Bulk live order book, 2 min ago	0.32 bp	3.8 bp −$4	3.8 bp −$38	7.3 bp −$727	19.5 bp −$9,767

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	1.5671	+0.057%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5663	+0.009%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5600	−0.396%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5684	+0.141%	$262K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0004% / S +0.0108%	1h	1.5684	+0.139%	$863K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0005%	1h	1.5693	+0.198%	$9.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5693	+0.197%	$15.8M	$68.8M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5687	+0.160%	$77K	$909K	50x	as long as short
ApeX Omni XRPUSDT	+0.0081%	1h	1.5590	−0.460%	$1.0M	$886K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.651%	$2K	$107K	30x	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	1.5661	−0.008%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5682	+0.128%	$447K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5672	+0.067%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5662	0.000%	$39.8M	$79.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5663	+0.006%	$645K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5664	+0.011%	$561.9M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5668	+0.038%	$349.2M	$911.2M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5662	long leg	$128.2M	$893.8M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5593	−0.441%	$580K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5668	+0.038%	$119K	$748K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5661	−0.006%	$375.0M	$142.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5667	+0.032%	$302.7M	$860.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5673	+0.068%	$114.3M	$162.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5667	+0.032%	$273.7M	$369.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5666	+0.026%	—	$120.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5607	−0.349%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5645	−0.107%	$679K	$102.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5674	+0.078%	$1.1M	$41.0M	20x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5669	+0.045%	$45K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5686	+0.153%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5689	+0.174%	$844K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5693	+0.199%	$132K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5692	+0.192%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5687	+0.157%	$51.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5689	+0.172%	$55.8M	$29.3M	50x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5562	−0.641%	$1.7M	$573K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5662	−0.001%	$488K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5665	+0.022%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5663	+0.006%	$12K	$264K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5663	+0.009%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5688	+0.169%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5670	+0.051%	$9K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5668	+0.036%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5690	+0.179%	$24.6M	$75.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5700	+0.243%	$6.0M	$48.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5659	−0.017%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5682	+0.128%	$2.0M	$33.5M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0419%	1h	1.5698	+0.230%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0609%	1h	1.5702	+0.255%	$297.7M	$206.7M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5677	+0.096%	$511K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0765%	1h	1.5614	−0.309%	$1K	$11K	10x	as long as short