Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0728%/8h= −79.7% APRpaid last 24h −0.109%

Price spread now: Bybit against RISEx−0.075%7-day average −0.056% · 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−$23as in the Price arb table

costs, in and out, $10k−$210.211% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.304%−$30 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.075%, 7d avg −0.056%

Together, before fees−0.303%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: −$22 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XRP/USDC	1.5343	0.0828	pay 0.0103% / 1h	36m 38s	$507K	$755K	10x
Short	Bybit XRPUSDT	1.5331	0.0100	get 0.0100% / 8h	7h 36m	$341.5M	$922.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$152.84
Price spread: −0.075% → −0.056%: −$1.9
Slippage, 4 orders: −$4.14
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$175.88
Costs to cover: 0.211%
Break-even: never at this rate

Slippage from RISEx: live order book, 37 min ago; Bybit: 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, 37 min ago	1.37 bp	4.4 bp −$4	9.2 bp −$92	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.33 bp	6.3 bp −$6	8.0 bp −$80	13.2 bp −$1,321	22.4 bp −$11.2K

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	−0.062%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5340	−0.018%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5328	−0.095%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0012% / S +0.0082%	1h	1.5330	−0.084%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.417%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5332	−0.069%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5333	−0.062%	$9.3M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	−0.014%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5344	+0.009%	$513K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5336	−0.043%	$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	−0.039%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	−0.098%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5340	−0.017%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	−0.023%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5335	−0.048%	$539.7M	$2.06B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5331	−0.075%	$341.5M	$922.9M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5335	−0.049%	$125.0M	$869.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5328	−0.095%	$571K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5340	−0.017%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.304%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5337	−0.036%	$374.0M	$149.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5337	−0.036%	$309.0M	$901.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5336	−0.041%	$108.8M	$165.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5337	−0.036%	$268.2M	$375.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5334	−0.056%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5316	−0.172%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5307	−0.229%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5296	−0.303%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5306	−0.238%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5323	−0.124%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5336	−0.043%	$49K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5334	−0.058%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5333	−0.063%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5334	−0.056%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5332	−0.069%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5320	−0.147%	$50.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5337	−0.036%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5334	−0.057%	$2.1M	$7.1M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5336	−0.043%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5330	−0.080%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5331	−0.073%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	−0.088%	$24.0M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5338	−0.030%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5330	−0.081%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0279%	1h	1.5349	+0.042%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5300	−0.274%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5335	−0.049%	$2.1M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0406%	1h	1.5352	+0.062%	$289.9M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.049%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0791%	1h	1.5327	−0.103%	$2K	$12K	10x	as long as short
RISEx XRP/USDClong	+0.0828%	1h	1.5343	long leg	$507K	$755K	10x