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: Orderly against Pacifica−0.075%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 Pacifica Short on Orderly

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)−0.057%−$6 · spread now −0.075%, 7d avg −0.022%

Together, before fees−0.140%+ Points / potential airdropPacifica: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.053% cheaper against Pacifica than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5655	0.0100	pay 0.0013% / 1h	38m 04s	$675K	$1.1M	20x
Short	Orderly PERP_XRP_USDC	1.5643	0.0053	get 0.0053% / 8h	1h 38m	$81K	$938K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.075%Rate

Funding earned: −$9.92
Price spread: −0.075% → −0.022%: −$5.31
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$29.23
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 1 min ago; Orderly: 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, 1 min ago	0.96 bp	5.9 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	1.5649	−0.037%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5650	−0.033%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5617	−0.241%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5653	−0.011%	$262K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.330%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5606	−0.311%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDCshort	+0.0053%	8h	1.5643	−0.075%	$81K	$938K	50x
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0134%	1h	1.5653	−0.013%	$922K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5613	−0.266%	$3.0M	$11.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5614	−0.260%	$461K	$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	1.5674	+0.126%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5610	−0.287%	$39.7M	$76.5M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5655	long leg	$675K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5611	−0.280%	$563.6M	$1.94B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5611	−0.280%	$351.6M	$880.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5613	−0.267%	$127.6M	$872.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5693	+0.244%	$584K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5671	+0.104%	$120K	$729K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.180%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5612	−0.273%	$374.8M	$137.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5612	−0.273%	$293.6M	$835.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5614	−0.261%	$114.9M	$156.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5614	−0.260%	$271.6M	$357.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5611	−0.280%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.223%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5681	+0.166%	$681K	$99.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	−0.016%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5674	+0.123%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5660	+0.032%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5676	+0.136%	$47K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5653	−0.011%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5645	−0.065%	$842K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5668	+0.081%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5613	−0.267%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5604	−0.323%	$51.3M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5614	−0.260%	$55.6M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5673	+0.115%	$489K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5675	+0.129%	$13K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5638	−0.109%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5615	−0.254%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5683	+0.180%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5675	+0.129%	$9K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5661	+0.039%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5619	−0.228%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5633	−0.139%	$24.5M	$72.9M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5625	−0.190%	$1.8M	$972K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5650	−0.030%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.481%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5676	+0.135%	$512K	$615K	10x	as long as short
Hyperliquid XRP	+0.0619%	1h	1.5628	−0.171%	$291.4M	$199.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5674	+0.121%	$1K	$11K	10x	as long as short