Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Pacifica+0.528%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$33as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on Pacifica Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.575%−$58 · spread now +0.528%, 7d avg +0.007%

Together, before fees−0.574%+ Points / potential airdropPacifica: Active · farm board−$57 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.521% dearer against Pacifica than usual: you sell high and buy low, +$52 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5199	0.0100	pay 0.0013% / 1h	45m 20s	$662K	$1.1M	20x
Short	Bulk XRP-USD	1.5279	0.0100	get 0.0013% / 1h	45m 20s	$1.6M	$350K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Pacifica. 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 PacificabpFee BulkbpOrdersPrice spread, now +0.528%Rate

Funding earned: $0
Price spread: +0.528% → +0.007%: $52.11
Slippage, 4 orders: −$4.49
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $32.62
Costs to cover: 0.195%
Break-even: from the start

Slippage from Pacifica: live order book, 4 min ago; Bulk: live order book, 4 min ago.

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 Pacifica live order book, 4 min ago	0.33 bp	4.3 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Bulk live order book, 4 min ago	0.66 bp	5.1 bp −$5	6.6 bp −$66	17.4 bp −$1,745	33.1 bp −$16.6K

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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5201	+0.015%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5209	+0.067%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5199	+0.003%	$1.1M	$100K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.074%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5197	−0.012%	$9.3M	$23.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5202	+0.019%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.600%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5192	−0.045%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5198	−0.004%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5201	+0.015%	$441K	$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	1.5199	+0.005%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5195	−0.025%	$38.6M	$71.3M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5199	long leg	$662K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5200	+0.008%	$543.4M	$1.83B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5196	−0.018%	$339.3M	$830.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5195	−0.025%	$122.4M	$821.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	+0.107%	$566K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5201	+0.015%	$115K	$645K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5199	+0.002%	$353.8M	$128.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5200	+0.008%	$294.5M	$792.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5200	+0.008%	$111.3M	$145.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5192	−0.045%	$264.0M	$336.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5205	+0.041%	—	$3.7M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5212	+0.087%	$1.7M	$923K	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5196	−0.021%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5204	+0.033%	$661K	$95.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	+0.016%	$1.1M	$41.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5203	+0.028%	$1.0M	$827K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5200	+0.005%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5203	+0.028%	$51K	$457K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5200	+0.010%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	−0.024%	$818K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5205	+0.044%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5192	−0.045%	$28K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5189	−0.067%	$50.0M	$14.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5204	+0.034%	$54.3M	$28.1M	50x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5279	+0.528%	$1.6M	$350K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	−0.005%	$474K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5193	−0.038%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5193	−0.038%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5197	−0.014%	$71K	$40K	3x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5194	−0.032%	$15.1M	$62.7M	50x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5199	+0.002%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5208	+0.061%	$5.3M	$42.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0204%	8h	1.5212	+0.087%	$1.7M	$31.8M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5200	+0.009%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.067%	$24.0M	$65.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5204	+0.033%	$19K	$55K	7x	as long as short
Hyperliquid XRP	+0.0417%	1h	1.5215	+0.107%	$278.3M	$178.0M	20x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5205	+0.041%	$402K	$503K	10x	as long as short
Aftermath Perps XRPUSD	+0.0541%	1h	1.5237	+0.252%	$1K	$10K	10x	as long as short