Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0608%/8h= −66.6% APRpaid last 24h −0.073%

Price spread now: BloFin against RISEx+0.016%7-day average −0.038% · 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−$19as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.182%−$18 on $10k

Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.016%, 7d avg −0.038%

Together, before fees−0.359%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.055% dearer against RISEx than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.038%): +$5 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 3 days (−0.182% in total) that is about 25 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.182% in total (about -19.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XRP/USDC	1.5327	0.0828	pay 0.0103% / 1h	28m 46s	$506K	$754K	10x
Short	BloFin XRP-USDT	1.5329	0.0220	get 0.0220% / 8h	7h 28m	$24.0M	$73.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against RISEx. 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 RISExbpFee BloFinbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$127.64
Price spread: +0.016% → −0.038%: $5.48
Slippage, 4 orders: −$6.01
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$146.17
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from RISEx: live order book, 45 min ago; BloFin: live order book, 5 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, 45 min ago	1.37 bp	4.4 bp −$4	9.2 bp −$92	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	1.63 bp	7.6 bp −$8	7.9 bp −$79	12.0 bp −$1,196	21.3 bp −$10.7K

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	1.5328	+0.010%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5335	+0.053%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5320	−0.045%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5318	−0.057%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.524%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5329	+0.016%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5330	+0.023%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5345	+0.119%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5350	+0.153%	$515K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5323	−0.023%	$8K	$8K	10x	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	+0.0100%	8h	1.5317	−0.062%	$10K	$277K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5351	+0.157%	$479K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5318	−0.052%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5339	+0.083%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5346	+0.127%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5343	+0.110%	$541.2M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5346	+0.127%	$342.1M	$919.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5345	+0.121%	$125.0M	$868.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	+0.121%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5346	+0.127%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.200%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5337	+0.069%	$374.4M	$149.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5347	+0.134%	$312.3M	$903.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5346	+0.125%	$109.0M	$165.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5344	+0.114%	$268.6M	$374.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5333	+0.042%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	+0.011%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5333	+0.039%	$666K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	+0.049%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5321	−0.036%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5322	−0.029%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5325	−0.010%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5322	−0.031%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5330	+0.021%	$825K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5326	−0.002%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5327	+0.003%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5325	−0.008%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5322	−0.029%	$54.5M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5343	+0.109%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5326	−0.005%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5318	−0.053%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5329	+0.016%	$24.0M	$73.6M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5334	+0.049%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5323	−0.020%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5336	+0.062%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5340	+0.088%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5319	−0.046%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0399%	1h	1.5356	+0.192%	$290.0M	$214.6M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	+0.088%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0806%	1h	1.5328	+0.012%	$2K	$12K	10x	as long as short
RISEx XRP/USDClong	+0.0828%	1h	1.5327	long leg	$506K	$754K	10x