Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.030%

Price spread now: Coinbase International against Paradex+0.115%7-day average +0.010% · 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−$22as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.385%−$38 · spread now +0.115%, 7d avg +0.010%

Together, before fees−0.332%+ Points / potential airdropParadex: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.105% dearer against Paradex than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5360	0.0099	pay 0.0099% / 8h	6h 19m	$479K	$51K	50x
Short	Coinbase International XRP-PERP-INTX	1.5378	0.0120	get 0.0015% / 1h	19m 35s	$5.5M	$45.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.115%Rate

Funding earned: $4.33
Price spread: +0.115% → +0.010%: $10.54
Slippage, 4 orders: −$18.5
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$17.63
Costs to cover: 0.325%
Break-even: 35.5 days

Slippage from Paradex: live order book, 32 min ago; Coinbase International: live order book, 3 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 Paradex live order book, 32 min ago	6.52 bp	8.5 bp −$9	140.9 bp −$1,409	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.32 bp	7.4 bp −$7	10.1 bp −$101	25.4 bp −$2,542	doesn't fit

XRP on 50 exchanges

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	1.5377	+0.108%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5364	+0.022%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5375	+0.095%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5377	+0.112%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5371	+0.068%	$14.1M	$72.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.300%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5366	+0.037%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5358	−0.015%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5362	+0.011%	$604K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5373	+0.081%	$17K	$77K	7x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERPlong	+0.0099%	8h	1.5360	long leg	$479K	$51K	50x
Katana Perps XRP-USD	+0.0100%	8h	1.5360	−0.002%	$9K	$397K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5359	−0.007%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5360	−0.002%	$39.5M	$82.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5360	−0.002%	$589K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5359	−0.010%	$536.0M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5359	−0.009%	$362.6M	$902.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5359	−0.009%	$124.4M	$845.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	+0.193%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5368	+0.050%	$165K	$693K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5429	+0.446%	$1.6M	$8K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5361	+0.004%	$379.6M	$160.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5355	−0.035%	$313.8M	$915.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5362	+0.008%	$106.9M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5361	+0.004%	$272.4M	$360.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5363	+0.017%	—	$104.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	+0.085%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	+0.146%	$668K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5374	+0.089%	$1.1M	$31.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5391	+0.200%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5367	+0.046%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5362	+0.011%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5372	+0.073%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5374	+0.089%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5374	+0.088%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5370	+0.063%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5368	+0.052%	$50.1M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5369	+0.056%	$54.9M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5356	−0.030%	$2.1M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5368	+0.047%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0120%	1h	1.5378	+0.115%	$5.5M	$45.6M	50x
Hyperliquid XRP	+0.0131%	1h	1.5374	+0.089%	$298.5M	$268.3M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0153% / S −0.0125%	1h	1.5371	+0.071%	$801K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0156%	8h	1.5387	+0.174%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0205%	1h	1.5379	+0.121%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5383	+0.147%	$23.9M	$79.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5368	+0.053%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5383	+0.145%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0458%	1h	1.5382	+0.139%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	+0.258%	$69K	$109K	15x	as long as short