Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.006%

Price spread now: Pacifica against Orderly−0.045%7-day average +0.022% · you buy dearer than you sell

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

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now −0.045%, 7d avg +0.022%

Together, before fees+0.260%+ Points / potential airdropPacifica: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.067% cheaper against Orderly than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.022%). If the spread goes back, that is −$7 on $10k: about 4.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5601	0.0053	pay 0.0053% / 8h	1h 36m	$78K	$941K	50x
Short	Pacifica XRP	1.5594	0.0100	get 0.0013% / 1h	36m 53s	$673K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.045%Rate

Funding earned: $9.91
Price spread: −0.045% → +0.022%: −$6.69
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$10.78
Costs to cover: 0.140%
Break-even: 14.6 days

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 2 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 Pacifica live order book, 2 min ago	0.96 bp	5.5 bp −$6	doesn't fit	doesn't fit	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 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	1.5610	+0.058%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5594	−0.047%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5603	+0.013%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5598	−0.016%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.993%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5599	−0.013%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0053%	8h	1.5601	long leg	$78K	$941K	50x
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0133%	1h	1.5606	+0.034%	$919K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5604	+0.016%	$3.0M	$11.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5606	+0.032%	$458K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5589	−0.080%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5601	+0.001%	$39.6M	$76.6M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5594	−0.045%	$673K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5598	−0.019%	$563.1M	$1.94B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5599	−0.013%	$350.7M	$880.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5598	−0.019%	$127.5M	$872.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5693	+0.590%	$584K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5602	+0.006%	$119K	$729K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.526%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5602	+0.006%	$374.6M	$137.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5597	−0.026%	$294.9M	$837.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5598	−0.019%	$114.9M	$157.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5596	−0.032%	$271.4M	$357.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5599	−0.013%	—	$116.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.569%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5643	+0.272%	$679K	$99.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	+0.328%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.282%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5601	−0.002%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5593	−0.051%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5604	+0.021%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5605	+0.024%	$840K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5599	−0.010%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5600	−0.006%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	−0.119%	$51.2M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5606	+0.032%	$55.6M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5592	−0.056%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5601	0.000%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5596	−0.033%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5601	+0.001%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0128%	1h	1.5657	+0.357%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5604	+0.019%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5587	−0.092%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5607	+0.038%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5608	+0.045%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0298%	1h	1.5609	+0.051%	$1.8M	$976K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5614	+0.083%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.827%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5608	+0.045%	$509K	$615K	10x	as long as short
Hyperliquid XRP	+0.0611%	1h	1.5615	+0.090%	$291.2M	$199.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5648	+0.300%	$1K	$11K	10x	as long as short