Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.036%

Price spread now: Coinbase International against Orderly+0.033%7-day average +0.034% · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now +0.033%, 7d avg +0.034%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5170	0.0072	pay 0.0072% / 8h	6h 23m	$62K	$953K	50x
Short	Coinbase International XRP-PERP-INTX	1.5175	0.0216	get 0.0027% / 1h	23m 54s	$5.7M	$46.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.033%Rate

Funding earned: $30.28
Price spread: +0.033% → +0.034%: −$0.12
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $14.16
Costs to cover: 0.160%
Break-even: 3.7 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	0.33 bp	9.0 bp −$9	10.8 bp −$108	24.2 bp −$2,425	doesn't fit

Orderly: 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5170	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5184	+0.095%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.264%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5166	−0.025%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0021% / S +0.0059%	1h	1.5166	−0.026%	$802K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.571%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5169	−0.004%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0072%	8h	1.5170	long leg	$62K	$953K	50x
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5173	+0.020%	$7.7M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5173	+0.022%	$2.9M	$14.3M	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	1.5175	+0.033%	$517K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5154	−0.105%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5164	−0.043%	$906K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5175	+0.032%	$38.6M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5180	+0.066%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5179	+0.059%	$538.4M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5179	+0.059%	$341.7M	$940.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5177	+0.046%	$124.5M	$873.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	+0.026%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5168	−0.013%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.129%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5172	+0.013%	$369.1M	$152.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5173	+0.020%	$290.3M	$913.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5174	+0.027%	$107.1M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5177	+0.046%	$266.2M	$383.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5168	−0.013%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	+0.191%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	+0.090%	$659K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5181	+0.074%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	+0.059%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5180	+0.065%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5174	+0.026%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5172	+0.010%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5172	+0.012%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5175	+0.034%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5171	+0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5164	−0.037%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5171	+0.007%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5163	−0.044%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5170	−0.003%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	−0.010%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5167	−0.020%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0212%	1h	1.5183	+0.086%	$281.0M	$221.5M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5171	+0.008%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0216%	1h	1.5175	+0.033%	$5.7M	$46.7M	50x
Hibachi XRP/USDT-P	+0.0320%	1h	1.5203	+0.218%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0358%	1h	1.5180	+0.066%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0360%	8h	1.5182	+0.079%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5168	−0.016%	$533K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0752%	1h	1.5176	+0.037%	$2K	$14K	10x	as long as short