Funding you earn now, next payment 09:00 UTC−0.0110%/8h= −12.0% APRnext payment −$0.14 per $10,000 · paid last 24h −0.084%
Price spread now: Backpack against RISEx+0.028%7-day average −0.007% · 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−$21as in the Price arb table
costs, in and out, $10k−$240.241% of the position
Funding, last 4 days (all we have)−0.305%−$30 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.028%, 7d avg −0.007%
=The price spread pays, funding is against you. Backpack is 0.035% dearer against RISEx than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.007%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 4 days (−0.305% in total) that is about 11 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx XRP/USDC | 1.5383 | 0.0337 | pay 0.0042% / 1h | 11m 27s | $526K | $783K | 10x |
| Short | Backpack XRP_USDC_PERP | 1.5387 | 0.0227 | get 0.0028% / 1h | 11m 27s | $2.0M | $1.3M | 25x |
RISEx XRP/USDC
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against RISEx. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$23.07
- Price spread: +0.028% → −0.007%
- $3.55
- Slippage, 4 orders
- −$8.07
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$43.6
- Costs to cover
- 0.241%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 22 min ago; Backpack: 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 RISEx live order book, 22 min ago | 2.41 bp | 5.4 bp −$5 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.33 bp | 7.9 bp −$8 | 9.7 bp −$97 | doesn't fit | doesn't fit |
XRP on 50 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XRPUSD | −0.0170% | 1h | 1.5371 | −0.078% | $14.1M | $74.7M | 50x | as long as short |
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5351 | −0.206% | $5K | $3K | 20x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5350 | −0.212% | $69K | $110K | 15x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5374 | −0.056% | $7.9M | $22.6M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5389 | +0.039% | $250K | — | 150x | as long as short |
| dYdX XRP-USD | +0.0006% | 1h | 1.5377 | −0.037% | $1.1M | $123K | 10x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +1.153% | $2K | $107K | 30x | as long as short |
| Hibachi XRP/USDT-P | +0.0072% | 1h | 1.5370 | −0.084% | $17K | $78K | 7x | as long as short |
| 01 Exchange XRPUSD | +0.0080% | 1h | 1.5380 | −0.017% | $9K | $2K | 10x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5382 | −0.006% | $2.8M | $14.7M | 20x | as long as short |
Kraken Futures PF_XRPUSD
Hotstuff XRP-PERP
Phoenix XRP
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
dYdX XRP-USD
Injective XRP/USDC PERP
Hibachi XRP/USDT-P
01 Exchange XRPUSD
Lighter XRPShow all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5385 | +0.015% | $625K | $3.1M | 20x | as long as short |
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5372 | −0.069% | $20K | $378K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5385 | +0.018% | $480K | $52K | 50x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5379 | −0.020% | $1.0M | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5378 | −0.033% | $39.0M | $82.6M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5382 | −0.003% | $619K | $1.0M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5380 | −0.017% | $537.4M | $2.12B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5380 | −0.017% | $357.2M | $909.7M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5379 | −0.024% | $126.6M | $841.3M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5373 | −0.063% | $564K | $40K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5385 | +0.015% | $161K | $702K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5316 | −0.434% | $1.6M | $13K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5381 | −0.011% | $379.2M | $157.1M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5381 | −0.011% | $319.1M | $931.1M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5382 | −0.006% | $108.7M | $180.2M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5381 | −0.011% | $273.1M | $361.0M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5388 | +0.035% | — | $106.6M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5344 | −0.249% | $4.8M | $38.3M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5339 | −0.284% | $666K | $113.7M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5356 | −0.171% | $1.1M | $32.7M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5347 | −0.232% | $1.2M | $1.2M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5382 | −0.005% | — | $15K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5383 | +0.002% | $53K | $502K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5384 | +0.009% | $41K | $66K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5372 | −0.069% | $78K | $646K | 50x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5371 | −0.075% | $129K | $1.6M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5369 | −0.089% | $31K | $1.5M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5358 | −0.159% | $50.1M | $14.3M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5371 | −0.076% | $54.5M | $33.3M | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5377 | −0.038% | $2.1M | $6.2M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5366 | −0.111% | $59K | $25K | 3x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0134% / S −0.0096% | 1h | 1.5370 | −0.085% | $789K | — | 200x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0160% | 1h | 1.5371 | −0.076% | $5.3M | $46.5M | 50x | as long as short |
| Kalshi KXXRPPERP | +0.0172% | 8h | 1.5360 | −0.147% | $1.7M | $32.7M | 2.9x | as long as short |
| Hyperliquid XRP | +0.0180% | 1h | 1.5396 | +0.087% | $295.0M | $265.9M | 20x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5334 | −0.316% | $23.8M | $78.0M | 125x | as long as short |
| Reya XRPRUSDPERP | +0.0221% | 1h | 1.5331 | −0.335% | $1.4M | $4K | 15x | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0227% | 1h | 1.5387 | +0.028% | $2.0M | $1.3M | 25x | |
| RISEx XRP/USDClong | +0.0337% | 1h | 1.5383 | long leg | $526K | $783K | 10x | |
| Aftermath Perps XRPUSD | +0.0515% | 1h | 1.5335 | −0.310% | $3K | $15K | 10x | as long as short |
Lighter RH XRP
Katana Perps XRP-USD
Paradex XRP-USD-PERP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Extended XRP-USD
Aevo XRP-PERP
GMX XRP/USD [ETH-USDC]
Coinbase International XRP-PERP-INTX
Kalshi KXXRPPERP
Hyperliquid XRP
BloFin XRP-USDT
Reya XRPRUSDPERP
Aftermath Perps XRPUSD