Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.027%

Price spread now: Deribit against OKX+0.065%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 3 days (all we have)−0.094%−$9 · spread now +0.065%, 7d avg +0.033%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.033% dearer against OKX than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.033%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 7 days funding on this pair paid +0.111%, 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	OKX XRP-USDT-SWAP	1.5314	0.0100	pay 0.0100% / 8h	7h 06m	$124.4M	$866.4M	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5324	0.0011	get 0.0001% / 1h	6m 17s	$9.3M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$18.69
Price spread: +0.065% → +0.033%: $3.27
Slippage, 4 orders: −$5.34
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.75
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Deribit: 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 OKX live order book, 3 min ago	0.33 bp	6.1 bp −$6	7.7 bp −$77	16.7 bp −$1,669	33.5 bp −$16.8K
Sell Deribit live order book, 3 min ago	1.63 bp	5.5 bp −$5	7.2 bp −$72	45.0 bp −$4,501	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	1.5344	+0.196%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	+0.049%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5315	+0.004%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0011%	1h	1.5324	+0.065%	$9.3M	$24.9M	50x
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0072%	1h	1.5313	−0.005%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.606%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5316	+0.013%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5313	−0.007%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5327	+0.082%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5329	+0.098%	$514K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5319	+0.033%	$9K	$281K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5321	+0.047%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	+0.095%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5315	+0.005%	$38.7M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5327	+0.084%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5325	+0.070%	$541.4M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5320	+0.039%	$341.6M	$918.5M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5314	long leg	$124.4M	$866.4M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5351	+0.242%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5323	+0.059%	$117K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.233%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5317	+0.020%	$373.9M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5319	+0.033%	$304.1M	$915.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5321	+0.045%	$111.0M	$167.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5308	−0.039%	$268.4M	$375.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5317	+0.020%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.004%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5376	+0.405%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5355	+0.268%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5390	+0.496%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5325	+0.073%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5319	+0.033%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5316	+0.016%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5318	+0.026%	$825K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5331	+0.108%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5325	+0.072%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5323	+0.061%	$50.3M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5327	+0.085%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5314	−0.001%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5318	+0.026%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5315	+0.005%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5355	+0.268%	$24.1M	$74.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5329	+0.098%	$5.7M	$46.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5323	+0.062%	$14.5M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5349	+0.229%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0312%	1h	1.5359	+0.294%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5340	+0.170%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0373%	1h	1.5330	+0.104%	$289.9M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5360	+0.300%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5322	+0.053%	$542K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0836%	1h	1.5349	+0.231%	$2K	$13K	10x	as long as short