Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Paradex+2.183%7-day average −0.185% · 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+$131as in the Price arb table

costs, in and out, $10k−$1051.053% of the position

Long on Paradex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.174%+$17 on $10k

Price spread, last 4 days (all we have)−3.114%−$311 · spread now +2.183%, 7d avg −0.185%

Together, before fees−2.940%+ Points / potential airdropParadex: Active · farm board−$294 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.367% dearer against Paradex than usual: you sell high and buy low (spread +2.183% now, against its 7-day average of −0.185%): +$237 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. Mind the row above: over the last 4 days funding on this pair paid +0.174%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5228	0.0100	pay 0.0100% / 8h	3h 52m	$475K	$55K	50x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	52m 41s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.183%Rate

Funding earned: −$14
Price spread: +2.183% → −0.185%: $236.74
Slippage, 4 orders: −$101.33
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $117.4
Costs to cover: 1.053%
Break-even: from the start

Slippage from Paradex: live order book, 1 min ago; Injective: live order book, 1 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, 1 min ago	4.61 bp	6.6 bp −$7	135.4 bp −$1,354	doesn't fit	doesn't fit
Sell Injective live order book, 1 min ago	46.05 bp	46.1 bp −$46	59.2 bp −$592	doesn't fit	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	1.5209	−0.122%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5224	−0.021%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5207	−0.136%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5210	−0.115%	$14.4M	$74.0M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.183%	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0049% / S +0.0017%	1h	1.5206	−0.144%	$780K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5212	−0.103%	$7.7M	$25.5M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5228	+0.003%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5233	+0.035%	$500K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDC	+0.0096%	8h	1.5209	−0.122%	$62K	$934K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0098%	8h	1.5238	+0.068%	$12K	$338K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	−0.113%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5224	−0.026%	$38.5M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5230	+0.013%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5229	+0.010%	$535.3M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5230	+0.016%	$348.6M	$940.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5230	+0.016%	$127.8M	$886.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.352%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5245	+0.114%	$119K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.306%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5228	+0.002%	$372.4M	$153.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5229	+0.009%	$292.8M	$896.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5231	+0.021%	$108.9M	$176.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	+0.042%	$269.7M	$387.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5230	+0.016%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.583%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	−0.402%	$659K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.589%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	−0.287%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5211	−0.109%	$44K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5207	−0.136%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5211	−0.110%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5212	−0.103%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5209	−0.122%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5212	−0.102%	$49.8M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5209	−0.122%	$54.2M	$31.2M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5228	long leg	$475K	$55K	50x
Vest XRP-PERP	+0.0100%	1h	1.5199	−0.187%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5231	+0.024%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5207	−0.139%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5248	+0.134%	$9K	$8K	10x	as long as short
Hyperliquid XRP	+0.0162%	1h	1.5230	+0.016%	$283.8M	$229.5M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5215	−0.083%	$5.6M	$47.4M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5209	−0.121%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5200	−0.181%	$24.2M	$76.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5183	−0.290%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5221	−0.044%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5202	−0.168%	$2.0M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5246	+0.120%	$519K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.444%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0654%	1h	1.5161	−0.438%	$2K	$15K	10x	as long as short