Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Ondo Perps−0.372%7-day average +0.079% · you buy dearer than you sell

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

Long on Ondo Perps Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.673%+$67 · spread now −0.372%, 7d avg +0.079%

Together, before fees+0.697%+ Points / potential airdropOndo Perps: Active · farm board+$70 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 0.450% cheaper against Ondo Perps than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5373	0.0100	pay 0.0013% / 1h	10m 36s	$564K	$40K	5x
Short	Bulk XRP-USD	1.5316	0.0100	get 0.0013% / 1h	10m 36s	$1.6M	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 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 Ondo PerpsbpFee BulkbpOrdersPrice spread, now −0.372%Rate

Funding earned: $0
Price spread: −0.372% → +0.079%: −$45.05
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$57.05
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bulk: live order book, 4 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 Bulk live order book, 4 min ago	0.33 bp	4.1 bp −$4	5.1 bp −$51	10.5 bp −$1,053	29.9 bp −$15.0K

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 50 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
Kraken Futures PF_XRPUSD	−0.0169%	1h	1.5397	+0.154%	$14.0M	$75.1M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5400	+0.176%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	−0.150%	$69K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5389	+0.102%	$250K	—	150x	as long as short
dYdX XRP-USD	+0.0006%	1h	1.5405	+0.211%	$1.1M	$123K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5399	+0.169%	$7.9M	$22.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.216%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5421	+0.312%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5370	−0.021%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5380	+0.047%	$2.8M	$14.7M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5405	+0.208%	$624K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5409	+0.234%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5412	+0.256%	$481K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5404	+0.198%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5417	+0.286%	$39.1M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5404	+0.199%	$620K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5416	+0.277%	$537.7M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5409	+0.234%	$359.8M	$906.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5403	+0.195%	$126.5M	$841.8M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5373	long leg	$564K	$40K	5x
Arcus XRP-USD	+0.0100%	1h	1.5417	+0.286%	$161K	$702K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5316	−0.372%	$1.6M	$13K	20x
Gate XRP_USDT	+0.0100%	8h	1.5407	+0.221%	$378.8M	$157.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5408	+0.228%	$315.9M	$931.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5410	+0.241%	$108.9M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5409	+0.234%	$273.4M	$360.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5405	+0.208%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5396	+0.149%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5339	−0.221%	$666K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5356	−0.108%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5347	−0.169%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5407	+0.224%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5383	+0.065%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5384	+0.072%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5389	+0.104%	$78K	$646K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5398	+0.163%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5393	+0.130%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5386	+0.082%	$50.1M	$14.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5392	+0.124%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5406	+0.212%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5393	+0.127%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0136% / S −0.0100%	1h	1.5387	+0.094%	$805K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5396	+0.150%	$5.3M	$46.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0173%	8h	1.5385	+0.078%	$1.7M	$32.7M	2.9x	as long as short
Hyperliquid XRP	+0.0182%	1h	1.5418	+0.293%	$295.3M	$266.4M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5388	+0.098%	$23.8M	$78.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5391	+0.118%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0229%	1h	1.5410	+0.241%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5415	+0.271%	$528K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0515%	1h	1.5335	−0.247%	$3K	$15K	10x	as long as short