Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.093%

Price spread now: Hyperliquid against Orderly+0.079%7-day average +0.075% · you sell dearer than you buy

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

Long on Orderly Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now +0.079%, 7d avg +0.075%

Together, before fees+0.228%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.075%, 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	1.5156	0.0071	pay 0.0071% / 8h	6h 31m	$62K	$953K	50x
Short	Hyperliquid XRP	1.5168	0.0216	get 0.0027% / 1h	31m 11s	$281.1M	$222.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.079%Rate

Funding earned: $30.43
Price spread: +0.079% → +0.075%: $0.45
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $15.88
Costs to cover: 0.150%
Break-even: 3.3 days

Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 13 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 Hyperliquid live order book, 13 min ago	0.66 bp	5.2 bp −$5	6.2 bp −$62	11.7 bp −$1,167	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	1.5159	+0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5149	−0.048%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.026%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5151	−0.036%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0061%	1h	1.5151	−0.034%	$802K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.666%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5150	−0.038%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0071%	8h	1.5156	long leg	$62K	$953K	50x
Lighter XRP	+0.0096%	1h	1.5153	−0.020%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5156	0.000%	$517K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5142	−0.092%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5154	−0.010%	$846K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5157	+0.006%	$38.6M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5154	−0.013%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5153	−0.020%	$539.0M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5154	−0.013%	$341.2M	$940.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	+0.007%	$124.3M	$872.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5136	−0.132%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5152	−0.026%	$115K	$720K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.363%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5157	+0.007%	$368.2M	$151.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5158	+0.013%	$289.7M	$910.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5158	+0.012%	$107.1M	$171.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5152	−0.026%	$266.1M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5157	+0.007%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5152	−0.025%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5130	−0.169%	$657K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5144	−0.076%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	−0.059%	$1.2M	$1.0M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5157	+0.007%	$44K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5157	+0.005%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5158	+0.013%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5159	+0.020%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5152	−0.026%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5156	−0.001%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5153	−0.020%	$53.9M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	−0.041%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5157	+0.007%	—	$12K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5149	−0.049%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5153	−0.020%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5154	−0.013%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0212%	1h	1.5158	+0.013%	$7.7M	$25.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5155	−0.004%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5156	0.000%	$5.7M	$46.7M	50x	as long as short
Hyperliquid XRPshort	+0.0216%	1h	1.5168	+0.079%	$281.1M	$222.4M	20x
Hibachi XRP/USDT-P	+0.0320%	1h	1.5162	+0.042%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0350%	8h	1.5161	+0.033%	$2.1M	$36.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0356%	1h	1.5166	+0.066%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5157	+0.010%	$537K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0774%	1h	1.5139	−0.112%	$2K	$14K	10x	as long as short