Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.009%

Price spread now: Bullet against Orderly−0.013%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5209	0.0096	pay 0.0096% / 8h	3h 53m	$62K	$934K	50x
Short	Bullet XRP-USD	1.5207	0.0100	get 0.0013% / 1h	53m 22s	$41K	$68K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Orderly. 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 OrderlybpFee BulletbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0.75
Price spread: −0.013% → 0.000%: −$1.32
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$14.57
Costs to cover: 0.140%
Break-even: 143.8 days

Slippage unknown: Orderly: no order-book sample; Bullet: 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 Orderly no order-book sample	—	—	—	—	—
Sell Bullet no order-book sample	—	—	—	—	—

Orderly and Bullet: 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	1.5176	−0.217%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5186	−0.153%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5207	−0.013%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5159	−0.329%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5155	−0.357%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.308%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0049% / S +0.0017%	1h	1.5206	−0.021%	$780K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5190	−0.128%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5190	−0.125%	$499K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDClong	+0.0096%	8h	1.5209	long leg	$62K	$934K	50x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0098%	8h	1.5201	−0.053%	$12K	$337K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	+0.010%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5202	−0.044%	$38.5M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5192	−0.110%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5211	+0.014%	$534.6M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5211	+0.013%	$348.5M	$939.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5213	+0.026%	$127.9M	$885.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.230%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5202	−0.046%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.184%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5209	0.000%	$372.2M	$153.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5208	−0.007%	$293.6M	$896.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5211	+0.010%	$108.7M	$176.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5212	+0.020%	$269.4M	$387.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5212	+0.020%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.461%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	−0.280%	$659K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.467%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	−0.164%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5211	+0.013%	$44K	$455K	20x	as long as short
Bullet XRP-USDshort	+0.0100%	1h	1.5207	−0.013%	$41K	$68K	20x
Derive XRP-PERP	+0.0100%	1h	1.5160	−0.322%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5168	−0.270%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	−0.348%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5161	−0.316%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5154	−0.362%	$54.0M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5192	−0.114%	$474K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5199	−0.065%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5203	−0.036%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5207	−0.016%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5203	−0.039%	$9K	$8K	10x	as long as short
Hyperliquid XRP	+0.0145%	1h	1.5218	+0.059%	$281.5M	$227.7M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5163	−0.302%	$5.6M	$47.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5209	+0.001%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5192	−0.112%	$24.2M	$76.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5183	−0.168%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0262%	8h	1.5186	−0.151%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0275%	1h	1.5163	−0.302%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5203	−0.038%	$518K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.322%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0654%	1h	1.5161	−0.316%	$2K	$15K	10x	as long as short