Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h +0.001%

Price spread now: Derive against Orderly+0.009%7-day average +0.007% · you sell dearer than you buy

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

Long on Orderly Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.009%, 7d avg +0.007%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$1 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	1.5344	0.0061	pay 0.0061% / 8h	1m 50s	$75K	$910K	50x
Short	Derive XRP-PERP	1.5345	0.0100	get 0.0013% / 1h	1m 50s	$826K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.009%Rate

Funding earned: $8.18
Price spread: +0.009% → +0.007%: $0.24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Derive: 3 bp × 2 orders: −$6
Net: −$3.58
Costs to cover: 0.120%
Break-even: 10.1 days

Slippage unknown: Orderly: 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 Orderly no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Orderly 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5326	−0.117%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	−0.146%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	−0.091%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5341	−0.018%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0007% / S +0.0090%	1h	1.5340	−0.025%	$841K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5347	+0.020%	$9.3M	$25.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5345	+0.005%	$14.9M	$70.2M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0061%	8h	1.5344	long leg	$75K	$910K	50x
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.408%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5346	+0.012%	$2.9M	$13.8M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5350	+0.039%	$512K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5337	−0.042%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5349	+0.032%	$38.8M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5326	−0.117%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5346	+0.013%	$541.6M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5347	+0.020%	$340.3M	$932.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5345	+0.007%	$125.8M	$885.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5324	−0.130%	$570K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	−0.156%	$117K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.071%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5345	+0.007%	$362.6M	$149.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5347	+0.020%	$303.2M	$901.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5347	+0.018%	$108.7M	$166.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5345	+0.007%	$268.3M	$377.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5347	+0.020%	—	$122.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5290	−0.349%	$8.2M	$33.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5317	−0.173%	$665K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5319	−0.161%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5290	−0.352%	$1.0M	$901K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5336	−0.054%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	+0.013%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5343	−0.006%	$41K	$69K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5345	+0.009%	$826K	$82K	10x
SunX XRP-USDT	+0.0100%	8h	1.5347	+0.019%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5343	−0.007%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5343	−0.005%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5344	0.000%	$54.7M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5324	−0.127%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5343	−0.007%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5344	−0.003%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5341	−0.020%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5329	−0.098%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5344	0.000%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−0.137%	$24.0M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5353	+0.059%	$5.8M	$47.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0265%	1h	1.5358	+0.091%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5326	−0.114%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5343	−0.007%	$2.3M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0554%	1h	1.5362	+0.117%	$290.5M	$216.0M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5338	−0.042%	$525K	$746K	10x	as long as short
Aftermath Perps XRPUSD	+0.0779%	1h	1.5333	−0.074%	$1K	$11K	10x	as long as short