Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.006%

Price spread now: Ondo Perps against Orderly−0.013%7-day average −0.038% · you buy dearer than you sell

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

Long on Orderly Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)+0.197%+$20 · spread now −0.013%, 7d avg −0.038%

Together, before fees+0.175%+ Points / potential airdropOndo Perps: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Ondo Perps is 0.025% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5570	0.0056	pay 0.0056% / 8h	47m 13s	$77K	$909K	50x
Short	Ondo Perps XRP-USD.P	1.5568	0.0100	get 0.0013% / 1h	47m 13s	$582K	$42K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.013%Rate

Funding earned: $9.21
Price spread: −0.013% → −0.038%: $2.5
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $0.71
Costs to cover: 0.110%
Break-even: 6.5 days

Slippage unknown: Orderly: no order-book sample; Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—

Orderly and 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	1.5571	+0.006%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	+0.026%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.514%	$70K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5567	−0.020%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5568	−0.012%	$856K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5576	+0.039%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5584	+0.089%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0056%	8h	1.5570	long leg	$77K	$909K	50x
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.064%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5584	+0.089%	$3.0M	$12.5M	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	1.5586	+0.103%	$444K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5571	+0.004%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5568	−0.013%	$39.5M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5579	+0.055%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5569	−0.006%	$557.5M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5568	−0.013%	$346.3M	$912.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5569	−0.006%	$127.2M	$889.7M	100x	as long as short
Ondo Perps XRP-USD.Pshort	+0.0100%	1h	1.5568	−0.013%	$582K	$42K	5x
Arcus XRP-USD	+0.0100%	1h	1.5572	+0.013%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.405%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5562	−0.051%	$371.9M	$143.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5570	0.000%	$300.9M	$866.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5565	−0.034%	$113.3M	$162.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5573	+0.019%	$272.3M	$369.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5565	−0.032%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.408%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	+0.147%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	+0.225%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.450%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.008%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5570	0.000%	$48K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5571	+0.006%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5573	+0.022%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5578	+0.050%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5579	+0.058%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.022%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5580	+0.064%	$55.4M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5570	−0.002%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5574	+0.026%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5570	−0.002%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5575	+0.029%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5571	+0.006%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5562	−0.054%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	+0.096%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5588	+0.116%	$5.9M	$47.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5580	+0.067%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5568	−0.013%	$1.9M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0383%	1h	1.5583	+0.083%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0601%	1h	1.5586	+0.103%	$297.0M	$208.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5579	+0.055%	$508K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5606	+0.231%	$1K	$11K	10x	as long as short