Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0151%/8h= −16.5% APRpaid last 24h −0.041%

Price spread now: Orderly against Reya+0.011%7-day average +0.007% · you sell dearer than you buy

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

Long on Reya Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.114%−$11 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.011%, 7d avg +0.007%

Together, before fees−0.190%+ Points / potential airdropReya: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XRPRUSDPERP	1.5328	0.0213	pay 0.0027% / 1h	35m 49s	$1.4M	$7K	15x
Short	Orderly PERP_XRP_USDC	1.5330	0.0062	get 0.0062% / 8h	7h 35m	$58K	$935K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Reya. 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 ReyabpFee OrderlybpOrdersPrice spread, now +0.011%Rate

Funding earned: −$31.73
Price spread: +0.011% → +0.007%: $0.44
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$43.3
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and 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	1.5333	+0.031%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5340	+0.075%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5328	−0.001%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5333	+0.031%	$9.3M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0012% / S +0.0082%	1h	1.5328	−0.002%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.511%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDCshort	+0.0062%	8h	1.5330	+0.011%	$58K	$935K	50x
Lighter XRP	+0.0096%	1h	1.5339	+0.070%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5340	+0.076%	$513K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5336	+0.050%	$10K	$279K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5337	+0.053%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5338	+0.066%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5337	+0.057%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	+0.070%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5325	−0.022%	$539.7M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5329	+0.004%	$341.5M	$922.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5330	+0.011%	$124.8M	$870.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5328	−0.002%	$571K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5340	+0.076%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.212%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5323	−0.035%	$373.9M	$149.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5322	−0.041%	$308.0M	$901.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5330	+0.014%	$108.7M	$165.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5330	+0.011%	$268.1M	$375.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5325	−0.022%	—	$123.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.001%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5307	−0.137%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5296	−0.211%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5306	−0.146%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5329	+0.006%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5338	+0.063%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5330	+0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5333	+0.030%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5341	+0.082%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5332	+0.024%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5343	+0.094%	$50.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5339	+0.070%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5326	−0.013%	$2.1M	$7.1M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5336	+0.050%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5330	+0.013%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERPlong	+0.0213%	1h	1.5328	long leg	$1.4M	$7K	15x
BloFin XRP-USDT	+0.0220%	8h	1.5329	+0.004%	$24.0M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5345	+0.109%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5336	+0.053%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0285%	1h	1.5346	+0.115%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5346	+0.115%	$2.1M	$35.1M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5300	−0.181%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0407%	1h	1.5351	+0.148%	$289.9M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.141%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0792%	1h	1.5329	+0.005%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5343	+0.093%	$507K	$755K	10x	as long as short