Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Derive against SoDEX−0.011%7-day average +0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.011%, 7d avg +0.007%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5129	0.0100	pay 0.0013% / 1h	52m 18s	$28K	$1.7M	10x
Short	Derive XRP-PERP	1.5127	0.0100	get 0.0013% / 1h	52m 18s	$814K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.007%: −$1.82
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$15.82
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 2 min ago; Derive: no order-book sample. Net counts fees only.

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	6.9 bp −$69	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5117	−0.079%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5132	+0.017%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5118	−0.074%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	−0.059%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5133	+0.026%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5125	−0.026%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.849%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5127	−0.013%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5124	−0.033%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5130	+0.004%	$2.8M	$14.8M	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	1.5131	+0.013%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5118	−0.073%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5113	−0.102%	$941K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5131	+0.013%	$291.0M	$257.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5127	−0.013%	$38.7M	$86.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5122	−0.044%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5127	−0.013%	$532.2M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5124	−0.033%	$342.2M	$950.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5124	−0.033%	$125.4M	$888.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5124	−0.033%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5130	+0.007%	$137K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.100%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5125	−0.026%	$372.5M	$155.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5122	−0.046%	$295.6M	$904.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5129	−0.001%	$107.9M	$179.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5123	−0.040%	$268.5M	$392.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5124	−0.033%	—	$105.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	+0.065%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.107%	$656K	$111.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	+0.057%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	+0.119%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5124	−0.033%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5123	−0.038%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5126	−0.020%	$62K	$934K	50x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5127	−0.011%	$814K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5126	−0.023%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5129	long leg	$28K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5118	−0.074%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5128	−0.007%	$53.9M	$31.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5125	−0.023%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5120	−0.057%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5125	−0.024%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5124	−0.033%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5124	−0.033%	$1.8M	$35.5M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5132	+0.020%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5134	+0.033%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5120	−0.058%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5115	−0.093%	$24.2M	$75.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5112	−0.111%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5129	−0.003%	$516K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0638%	1h	1.5124	−0.032%	$2K	$15K	10x	as long as short