Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Ondo Perps−0.031%7-day average +0.068% · you buy dearer than you sell

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

Long on Ondo Perps Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.031%, 7d avg +0.068%

Together, before fees+0.211%+ Points / potential airdropOndo Perps: Active · Paradex: Active · farm board+$21 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: Paradex is 0.099% cheaper against Ondo Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5157	0.0100	pay 0.0013% / 1h	43m 44s	$564K	$27K	5x
Short	Paradex XRP-USD-PERP	1.5152	0.0100	get 0.0100% / 8h	6h 43m	$472K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → +0.068%: −$9.88
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.88
Costs to cover: 0.090%
Break-even: 183907.1 days

Slippage unknown: Ondo Perps: no order-book sample; Paradex: live order book, 25 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 Paradex live order book, 25 min ago	5.86 bp	7.9 bp −$8	149.4 bp −$1,494	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	1.5156	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5155	−0.015%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.020%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5147	−0.064%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0065%	1h	1.5141	−0.108%	$830K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.659%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5148	−0.061%	$14.6M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0068%	8h	1.5156	−0.007%	$57K	$945K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5150	−0.047%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5157	0.000%	$518K	$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	1.5153	−0.026%	$11K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	−0.036%	$877K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5160	+0.021%	$38.4M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5153	−0.026%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	−0.065%	$536.2M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5150	−0.046%	$337.7M	$938.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5152	−0.033%	$123.9M	$871.2M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5157	long leg	$564K	$27K	5x
Arcus XRP-USD	+0.0100%	1h	1.5157	0.000%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.171%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5150	−0.046%	$367.9M	$150.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5144	−0.086%	$291.9M	$899.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5145	−0.082%	$108.3M	$171.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5147	−0.066%	$264.8M	$384.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5144	−0.086%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	−0.012%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5178	+0.140%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5207	+0.330%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5185	+0.185%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5149	−0.053%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5155	−0.013%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5145	−0.082%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5159	+0.011%	$816K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5151	−0.041%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5153	−0.026%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5153	−0.028%	$49.7M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5155	−0.013%	$53.8M	$29.5M	50x	as long as short
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5152	−0.031%	$472K	$55K	50x
Extended XRP-USD	+0.0104%	1h	1.5146	−0.074%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5155	−0.010%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5161	+0.026%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5160	+0.020%	$9.0M	$25.0M	50x	as long as short
Hyperliquid XRP	+0.0180%	1h	1.5173	+0.109%	$280.7M	$223.2M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5133	−0.156%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5156	−0.007%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.238%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5141	−0.103%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0335%	8h	1.5152	−0.033%	$2.1M	$36.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0355%	1h	1.5164	+0.046%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5158	+0.004%	$537K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0801%	1h	1.5166	+0.058%	$2K	$14K	10x	as long as short