Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.009%

Price spread now: Orderly against SoDEX−0.013%7-day average 0.000% · you buy dearer than you sell

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

Long on SoDEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.013%, 7d avg 0.000%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5315	0.0100	pay 0.0013% / 1h	32m 59s	$29K	$1.8M	10x
Short	Orderly PERP_XRP_USDC	1.5313	0.0062	get 0.0062% / 8h	7h 32m	$58K	$935K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.013%Rate

Funding earned: −$7.97
Price spread: −0.013% → 0.000%: −$1.34
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$23.31
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 1 min ago; Orderly: 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, 1 min ago	0.33 bp	4.3 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5327	+0.078%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5315	+0.001%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5310	−0.033%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0013% / S +0.0081%	1h	1.5307	−0.051%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.600%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDCshort	+0.0062%	8h	1.5313	−0.013%	$58K	$935K	50x
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5316	+0.007%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5316	+0.008%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5321	+0.039%	$514K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5313	−0.013%	$10K	$277K	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	1.5326	+0.070%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5324	+0.062%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5316	+0.007%	$38.7M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5325	+0.067%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5315	0.000%	$539.3M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5316	+0.007%	$341.2M	$920.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5312	−0.020%	$124.7M	$868.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	+0.007%	$571K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5330	+0.098%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.125%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5313	−0.013%	$373.5M	$149.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5313	−0.013%	$308.0M	$902.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5316	+0.007%	$108.6M	$165.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5314	−0.007%	$267.9M	$374.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5315	0.000%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	+0.086%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	−0.010%	$665K	$107.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5322	+0.048%	$1.1M	$38.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5333	+0.118%	$1.0M	$892K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5324	+0.059%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5312	−0.020%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5315	+0.002%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5326	+0.071%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5315	long leg	$29K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5318	+0.023%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5313	−0.013%	$54.5M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5319	+0.026%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5311	−0.024%	$2.1M	$7.1M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5308	−0.046%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5313	−0.011%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5318	+0.022%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5317	+0.013%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5319	+0.026%	$5.8M	$46.2M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5314	−0.007%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0284%	1h	1.5322	+0.046%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5327	+0.078%	$2.1M	$34.9M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5328	+0.082%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0402%	1h	1.5327	+0.078%	$289.4M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.098%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5328	+0.083%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5323	+0.053%	$506K	$754K	10x	as long as short