Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against SoDEX−0.046%45s7-day average +0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.193% of the position

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.046%, 7d avg +0.008%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.053% cheaper against SoDEX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5164	0.0100	pay 0.0013% / 1h	21m 29s	$30K	$1.7M	10x
Short	Binance XRPUSDT	1.5157	0.0100	get 0.0100% / 8h	6h 21m	$537.6M	$2.10B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.008%: −$5.33
Slippage, 4 orders: −$1.34
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.68
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Binance: live order book, 8 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 SoDEX live order book, 2 min ago	0.33 bp	4.3 bp −$4	7.8 bp −$78	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.33 bp	5.4 bp −$5	8.3 bp −$83	15.3 bp −$1,526	30.7 bp −$15.3K

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
Hotstuff XRP-PERP	−0.0080%	1h	1.5153	−0.073%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5152	−0.082%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.303%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5170	+0.039%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0021% / S +0.0058%	1h	1.5171	+0.044%	$802K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.611%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5162	−0.012%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5170	+0.040%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5170	+0.040%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5155	−0.058%	$2.9M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5155	−0.059%	$513K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5150	−0.092%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5153	−0.069%	$925K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5154	−0.066%	$38.5M	$84.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5154	−0.063%	$608K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5157	−0.046%	$537.6M	$2.10B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5157	−0.046%	$341.3M	$940.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5159	−0.033%	$124.3M	$872.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5173	+0.059%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	−0.066%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.168%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5152	−0.079%	$368.6M	$152.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5152	−0.079%	$289.8M	$913.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5152	−0.081%	$107.1M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5150	−0.092%	$265.8M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5152	−0.079%	—	$126.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	+0.231%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5169	+0.030%	$659K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5186	+0.145%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5174	+0.066%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5160	−0.029%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5184	+0.132%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5180	+0.103%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5175	+0.074%	$817K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5179	+0.098%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5164	long leg	$30K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5162	−0.015%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5164	0.000%	$53.9M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5151	−0.082%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5146	−0.116%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5167	+0.020%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5154	−0.066%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0202%	1h	1.5164	0.000%	$280.7M	$221.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5180	+0.107%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5169	+0.033%	$5.7M	$46.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5168	+0.025%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0355%	1h	1.5170	+0.040%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0361%	8h	1.5180	+0.106%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5157	−0.046%	$532K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0749%	1h	1.5177	+0.084%	$2K	$14K	10x	as long as short