Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Derive against Pacifica−0.096%7-day average −0.017% · you buy dearer than you sell

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

Long on Pacifica Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now −0.096%, 7d avg −0.017%

Together, before fees−0.058%+ Points / potential airdropPacifica: Active · farm board−$6 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: Derive is 0.079% cheaper against Pacifica than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5613	0.0100	pay 0.0013% / 1h	56m 50s	$643K	$1.1M	20x
Short	Derive XRP-PERP	1.5598	0.0100	get 0.0013% / 1h	56m 50s	$840K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.017%: −$7.89
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$21.89
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 2 min ago; Derive: 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 Pacifica live order book, 2 min ago	0.64 bp	5.2 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	1.5579	−0.218%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5606	−0.046%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5598	−0.096%	$9.6M	$25.4M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0003% / S +0.0110%	1h	1.5592	−0.134%	$858K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5592	−0.133%	$261K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5599	−0.089%	$15.7M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5594	−0.122%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.339%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5611	−0.013%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5617	+0.026%	$445K	$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	1.5583	−0.189%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5613	+0.001%	$39.6M	$79.4M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5613	long leg	$643K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5609	−0.024%	$561.1M	$2.00B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5611	−0.013%	$348.6M	$908.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5610	−0.019%	$128.1M	$888.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5574	−0.250%	$578K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5589	−0.154%	$119K	$748K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5609	−0.026%	$374.2M	$142.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5610	−0.019%	$304.2M	$856.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5609	−0.027%	$113.8M	$161.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5613	0.000%	$273.1M	$367.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5605	−0.051%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5530	−0.529%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5558	−0.354%	$679K	$102.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5558	−0.350%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5549	−0.410%	$1.0M	$884K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5597	−0.102%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5593	−0.127%	$42K	$66K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5598	−0.096%	$840K	$81K	10x
SunX XRP-USDT	+0.0100%	8h	1.5601	−0.076%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5596	−0.109%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5588	−0.158%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5596	−0.109%	$55.5M	$29.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5562	−0.330%	$1.7M	$573K	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5587	−0.167%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5584	−0.187%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5589	−0.154%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5607	−0.035%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5598	−0.097%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5593	−0.128%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5592	−0.132%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5596	−0.109%	$24.5M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5607	−0.038%	$6.0M	$47.9M	50x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5573	−0.255%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0320%	8h	1.5603	−0.064%	$2.0M	$33.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0359%	1h	1.5607	−0.038%	$1.7M	$1.0M	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5530	−0.532%	$69K	$89K	15x	as long as short
Hyperliquid XRP	+0.0568%	1h	1.5633	+0.128%	$294.2M	$207.1M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5599	−0.089%	$511K	$631K	10x	as long as short
Aftermath Perps XRPUSD	+0.0768%	1h	1.5560	−0.342%	$1K	$11K	10x	as long as short