Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against SoDEX+0.270%7-day average +0.001% · 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+$6as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 3 days (all we have)−0.175%−$18 · spread now +0.270%, 7d avg +0.001%

Together, before fees−0.177%−$18 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: Bybit is 0.268% dearer against SoDEX than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5579	0.0100	pay 0.0013% / 1h	46m 50s	$30K	$1.9M	10x
Short	Bybit XRPUSDT	1.5621	0.0100	get 0.0100% / 8h	46m 50s	$348.1M	$913.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.270%Rate

Funding earned: $0
Price spread: +0.270% → +0.001%: $26.83
Slippage, 4 orders: −$1.62
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $6.22
Costs to cover: 0.206%
Break-even: from the start

Slippage from SoDEX: live order book, 2 min ago; Bybit: live order book, 2 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	0.32 bp	4.3 bp −$4	6.6 bp −$66	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.32 bp	6.2 bp −$6	7.5 bp −$75	13.1 bp −$1,308	24.5 bp −$12.3K

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	1.5571	−0.051%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5603	+0.154%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.456%	$70K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5567	−0.078%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5568	−0.070%	$856K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5576	−0.019%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5584	+0.031%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5570	−0.058%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.122%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5611	+0.208%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5619	+0.257%	$445K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5571	−0.054%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5611	+0.205%	$39.7M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5579	−0.003%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5617	+0.247%	$559.2M	$2.01B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5621	+0.270%	$348.1M	$913.5M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5623	+0.282%	$127.4M	$892.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.071%	$582K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5572	−0.045%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.347%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5609	+0.193%	$373.0M	$143.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5610	+0.199%	$302.5M	$867.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5611	+0.208%	$113.6M	$163.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5611	+0.205%	$273.0M	$369.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5596	+0.109%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.350%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	+0.089%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	+0.167%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.392%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.065%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5570	−0.058%	$48K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5571	−0.052%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5573	−0.036%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5578	−0.008%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5579	long leg	$30K	$1.9M	10x
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.080%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5580	+0.006%	$55.4M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5570	−0.060%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5574	−0.032%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5607	+0.177%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5575	−0.029%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5571	−0.051%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5562	−0.111%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	+0.039%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5588	+0.058%	$5.9M	$47.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5580	+0.009%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5568	−0.071%	$1.9M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0378%	1h	1.5597	+0.116%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0620%	1h	1.5632	+0.340%	$297.8M	$208.7M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5579	−0.003%	$508K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5606	+0.173%	$1K	$11K	10x	as long as short