Funding you earn now, next payment 00:00 UTC+0.0164%/8h= +17.9% APRnext payment +$0.20 per $10,000 · paid last 24h +0.017%
Price spread now: Backpack against Ondo Perps+0.065%7-day average +0.092% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.154%+$15 on $10k
+Price spread, last 4 days (all we have)+0.124%+$12 · spread now +0.065%, 7d avg +0.092%
=Together, before fees+0.278%+ Points / potential airdropOndo Perps: Active · farm board+$28 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.027% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.092%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.154% in total) that is about 29 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps XRP-USD.P | 1.5324 | 0.0100 | pay 0.0013% / 1h | 3m 10s | $570K | $41K | 5x |
| Short | Backpack XRP_USDC_PERP | 1.5334 | 0.0264 | get 0.0033% / 1h | 3m 10s | $1.7M | $1.1M | 25x |
Ondo Perps XRP-USD.P
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Ondo Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $34.4
- Price spread: +0.065% → +0.092%
- −$2.67
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $16.73
- Costs to cover
- 0.150%
- Break-even
- 3.6 days
Slippage unknown: Ondo Perps: no order-book sample; Backpack: live order book, 1 min ago. 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 1 min ago | 0.33 bp | 5.3 bp −$5 | 6.6 bp −$66 | doesn't fit | doesn't fit |
Ondo Perps: 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 | 1.5327 | +0.020% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5322 | −0.016% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5330 | +0.039% | $68K | $90K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5325 | +0.007% | $256K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0007% / S +0.0090% | 1h | 1.5324 | −0.002% | $840K | — | 200x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0011% | 1h | 1.5327 | +0.020% | $9.3M | $25.7M | 50x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0032% | 1h | 1.5327 | +0.019% | $15.0M | $69.9M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0061% | 8h | 1.5330 | +0.039% | $75K | $910K | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | +1.540% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5330 | +0.042% | $2.9M | $13.8M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Deribit XRP_USDC-PERPETUAL
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5333 | +0.059% | $511K | $3.3M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5333 | +0.055% | $1.1M | $5.5M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5327 | +0.021% | $38.8M | $82.4M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5326 | +0.015% | $631K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5322 | −0.011% | $540.8M | $2.06B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5327 | +0.020% | $338.8M | $930.2M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5329 | +0.033% | $125.3M | $882.6M | 100x | as long as short |
| Ondo Perps XRP-USD.Plong | +0.0100% | 1h | 1.5324 | long leg | $570K | $41K | 5x | |
| Arcus XRP-USD | +0.0100% | 1h | 1.5327 | +0.020% | $117K | $708K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5333 | +0.059% | $1.7M | $570K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5326 | +0.013% | $361.4M | $149.5M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5325 | +0.007% | $300.5M | $899.4M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5327 | +0.019% | $108.6M | $166.6M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5323 | −0.007% | $267.7M | $377.3M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5327 | +0.020% | — | $122.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5290 | −0.219% | $8.2M | $33.8M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5317 | −0.043% | $665K | $105.7M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5319 | −0.030% | $1.1M | $40.0M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5290 | −0.222% | $1.0M | $901K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5326 | +0.012% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5332 | +0.052% | $46K | $456K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5327 | +0.022% | $41K | $69K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5330 | +0.038% | $825K | $82K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5332 | +0.053% | $128K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5327 | +0.020% | $30K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5319 | −0.031% | $50.3M | $15.6M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5327 | +0.020% | $54.6M | $29.7M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5323 | −0.003% | $478K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5326 | +0.013% | $11K | $270K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5324 | −0.002% | $2.1M | $7.2M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5325 | +0.006% | $71K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5327 | +0.020% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0213% | 1h | 1.5328 | +0.023% | $1.4M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5323 | −0.007% | $24.0M | $74.8M | 125x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0224% | 1h | 1.5336 | +0.078% | $5.8M | $46.8M | 50x | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0264% | 1h | 1.5334 | +0.065% | $1.7M | $1.1M | 25x | |
| Hibachi XRP/USDT-P | +0.0304% | 1h | 1.5326 | +0.016% | $17K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0314% | 8h | 1.5334 | +0.065% | $2.0M | $34.8M | 2.9x | as long as short |
| Hyperliquid XRP | +0.0556% | 1h | 1.5339 | +0.098% | $290.1M | $216.0M | 20x | as long as short |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5328 | +0.026% | $529K | $744K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0781% | 1h | 1.5333 | +0.057% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
Hyperliquid XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD