Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Derive against Ondo Perps+0.262%7-day average +0.043% · you sell dearer than you buy

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

Long on Ondo Perps Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)−0.842%−$84 · spread now +0.262%, 7d avg +0.043%

Together, before fees−0.713%+ Points / potential airdropOndo Perps: Active · farm board−$71 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: Derive is 0.219% dearer against Ondo Perps than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5297	0.0100	pay 0.0013% / 1h	24m 01s	$569K	$41K	5x
Short	Derive XRP-PERP	1.5337	0.0100	get 0.0013% / 1h	24m 01s	$826K	$70K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.262%Rate

Funding earned: $0
Price spread: +0.262% → +0.043%: $21.94
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Derive: 3 bp × 2 orders: −$6
Net: $10.94
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Derive: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Ondo Perps and Derive: 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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5336	+0.257%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5340	+0.281%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5345	+0.313%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	+0.150%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5343	+0.301%	$9.2M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5337	+0.261%	$257K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.046%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5335	+0.248%	$179K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5342	+0.293%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5343	+0.301%	$445K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5338	+0.271%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5341	+0.290%	$38.9M	$71.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5344	+0.308%	$668K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5340	+0.281%	$548.5M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5341	+0.288%	$343.4M	$836.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5340	+0.281%	$123.8M	$833.5M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5297	long leg	$569K	$41K	5x
Arcus XRP-USD	+0.0100%	1h	1.5345	+0.314%	$115K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.627%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5340	+0.281%	$367.9M	$131.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5336	+0.255%	$288.8M	$807.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5338	+0.269%	$112.8M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5339	+0.275%	$266.7M	$339.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5340	+0.281%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	+0.157%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.181%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	+0.075%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.111%	$1.0M	$850K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5334	+0.241%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5340	+0.281%	$49K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5338	+0.266%	$42K	$59K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5337	+0.262%	$826K	$70K	10x
SunX XRP-USDT	+0.0100%	8h	1.5342	+0.297%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5340	+0.281%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5334	+0.243%	$50.5M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5339	+0.275%	$54.8M	$28.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5340	+0.282%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5338	+0.268%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5335	+0.246%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5337	+0.261%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5345	+0.314%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0157%	1h	1.5349	+0.340%	$1.7M	$925K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5342	+0.292%	$15.5M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5348	+0.333%	$5.4M	$43.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5336	+0.257%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5348	+0.333%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5332	+0.229%	$23.8M	$67.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5334	+0.244%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5348	+0.336%	$404K	$497K	10x	as long as short
Hyperliquid XRP	+0.0473%	1h	1.5355	+0.379%	$282.9M	$181.9M	20x	as long as short
Aftermath Perps XRPUSD	+0.0535%	1h	1.5286	−0.073%	$1K	$11K	10x	as long as short