Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.009%

Price spread now: Orderly against OKX−0.026%7-day average −0.004% · you buy dearer than you sell

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

Long on OKX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.026%, 7d avg −0.004%

Together, before fees−0.061%−$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: Orderly is 0.023% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XRP-USDT-SWAP	1.5216	0.0100	pay 0.0100% / 8h	38m 57s	$128.5M	$875.7M	100x
Short	Orderly PERP_XRP_USDC	1.5212	0.0100	get 0.0100% / 8h	38m 57s	$78K	$688K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.004%: −$2.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.27
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Orderly: 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 OKX live order book, 5 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	14.2 bp −$1,424	32.8 bp −$16.4K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5216	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5196	−0.128%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5206	−0.066%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5215	−0.007%	$7.8M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.261%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5211	−0.035%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5214	−0.016%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5215	−0.007%	$604K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5190	−0.171%	$17K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5216	+0.003%	$1.0M	$6.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5210	−0.037%	$38.6M	$87.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	−0.097%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5215	−0.007%	$533.0M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5213	−0.020%	$350.3M	$956.6M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5216	long leg	$128.5M	$875.7M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	+0.053%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5200	−0.105%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.171%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5208	−0.053%	$379.3M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5209	−0.046%	$314.5M	$921.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5209	−0.047%	$106.6M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5207	−0.059%	$269.0M	$392.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5209	−0.046%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	+0.063%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5231	+0.098%	$662K	$113.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5233	+0.115%	$1.1M	$35.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5239	+0.151%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5218	+0.014%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5215	−0.007%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5214	−0.013%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5212	−0.026%	$78K	$688K	50x
Derive XRP-PERP	+0.0100%	1h	1.5218	+0.015%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5218	+0.016%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5210	−0.039%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5215	−0.008%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5215	−0.007%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	−0.117%	$474K	$55K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0101% / S −0.0060%	1h	1.5211	−0.033%	$785K	—	200x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5204	−0.076%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5195	−0.138%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5208	−0.051%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5219	+0.021%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0143%	1h	1.5219	+0.020%	$290.3M	$267.6M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0160%	1h	1.5219	+0.020%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5214	−0.013%	$5.7M	$48.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0199%	8h	1.5214	−0.013%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5211	−0.032%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5207	−0.059%	$23.6M	$77.8M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5200	−0.106%	$522K	$807K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5240	+0.158%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0636%	1h	1.5227	+0.070%	$2K	$16K	10x	as long as short