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% APRpaid last 24h 0.000%

Price spread now: Bybit against Pacifica−0.045%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.045%, 7d avg −0.023%

Together, before fees−0.114%+ Points / potential airdropPacifica: Active · farm board−$11 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: Bybit is 0.022% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5265	0.0100	pay 0.0013% / 1h	37m 18s	$664K	$1.0M	20x
Short	Bybit XRPUSDT	1.5258	0.0100	get 0.0100% / 8h	2h 37m	$342.1M	$835.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.023%: −$2.23
Slippage, 4 orders: −$3.12
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.35
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	0.33 bp	4.3 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.33 bp	5.8 bp −$6	8.9 bp −$89	18.5 bp −$1,847	30.2 bp −$15.1K

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	1.5263	−0.010%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5194	−0.465%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5262	−0.017%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.033%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5260	−0.032%	$9.2M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5264	−0.003%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.164%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5254	−0.072%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5265	−0.001%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5258	−0.045%	$443K	$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
Aster XRPUSDT	+0.0100%	8h	1.5262	−0.019%	$38.8M	$71.6M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5265	long leg	$664K	$1.0M	20x
Binance XRPUSDT	+0.0100%	8h	1.5264	−0.006%	$545.9M	$1.84B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5258	−0.045%	$342.1M	$835.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5254	−0.072%	$123.0M	$827.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5181	−0.550%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5266	+0.007%	$115K	$646K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5260	−0.029%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5263	−0.013%	$356.0M	$129.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5264	−0.006%	$290.1M	$799.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5263	−0.014%	$112.4M	$146.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5253	−0.078%	$265.4M	$337.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5263	−0.013%	—	$113.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5263	−0.015%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5214	−0.331%	$662K	$95.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5246	−0.121%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5264	−0.006%	$1.0M	$842K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5265	+0.001%	$1.1M	$5.2M	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5252	−0.085%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5265	+0.001%	$50K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5263	−0.010%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5255	−0.067%	$822K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5269	+0.027%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5253	−0.078%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5246	−0.125%	$50.2M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5255	−0.065%	$54.6M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5270	+0.030%	$476K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5261	−0.026%	$12K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5253	−0.078%	$2.1M	$7.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5257	−0.051%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0108%	1h	1.5253	−0.078%	$1.7M	$924K	25x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5267	+0.014%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5252	−0.083%	$15.3M	$63.2M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5267	+0.014%	$5.4M	$43.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5263	−0.011%	$1.3M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0220%	8h	1.5211	−0.353%	$1.7M	$31.7M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5195	−0.458%	$23.7M	$65.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5226	−0.253%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5269	+0.027%	$404K	$498K	10x	as long as short
Hyperliquid XRP	+0.0446%	1h	1.5281	+0.105%	$280.3M	$179.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0513%	1h	1.5245	−0.129%	$1K	$10K	10x	as long as short