Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.025%

Price spread now: Deribit against Paradex−0.041%7-day average +0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now −0.041%, 7d avg +0.012%

Together, before fees−0.261%+ Points / potential airdropParadex: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.053% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5146	0.0100	pay 0.0100% / 8h	4h 42m	$472K	$55K	50x
Short	Deribit XRP_USDC-PERPETUAL	1.5140	0	get 0.0000% / 1h	42m 34s	$7.7M	$25.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$21
Price spread: −0.041% → +0.012%: −$5.35
Slippage, 4 orders: −$12.84
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$50.18
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from Paradex: live order book, 17 min ago; Deribit: 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 Paradex live order book, 17 min ago	4.61 bp	6.6 bp −$7	137.9 bp −$1,379	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	0.33 bp	5.6 bp −$6	7.7 bp −$77	45.6 bp −$4,561	doesn't fit

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	1.5145	−0.008%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5137	−0.059%	$14.3M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	+0.022%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	−0.041%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5140	−0.041%	$7.7M	$25.6M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5147	+0.005%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.732%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0039% / S +0.0031%	1h	1.5146	−0.001%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5145	−0.008%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0079%	8h	1.5136	−0.068%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5146	+0.001%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5149	+0.018%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5135	−0.074%	$10K	$321K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5147	+0.002%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5154	+0.053%	$281.5M	$225.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5145	−0.006%	$38.3M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5149	+0.019%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5138	−0.054%	$533.1M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5138	−0.054%	$344.6M	$931.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5141	−0.035%	$125.8M	$873.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5133	−0.087%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5106	−0.266%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5146	−0.003%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5146	−0.002%	$369.8M	$153.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5149	+0.018%	$289.5M	$896.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5152	+0.037%	$108.0M	$173.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5145	−0.008%	$267.9M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5146	−0.002%	—	$126.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5129	−0.116%	$5.4M	$37.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.221%	$656K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.054%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5142	−0.028%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	+0.029%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	+0.038%	$43K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5145	−0.006%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	−0.070%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	−0.012%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5140	−0.041%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5155	+0.056%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5141	−0.035%	$54.0M	$30.5M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5146	long leg	$472K	$55K	50x
Extended XRP-USD	+0.0104%	1h	1.5136	−0.070%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	−0.061%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5165	+0.122%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0172%	1h	1.5147	+0.005%	$1.9M	$1.3M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5141	−0.035%	$5.6M	$47.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5143	−0.023%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	−0.054%	$24.1M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5152	+0.038%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5143	−0.018%	$516K	$780K	10x	as long as short
Aftermath Perps XRPUSD	+0.0664%	1h	1.5146	−0.002%	$2K	$15K	10x	as long as short