Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hnext payment −$0.13 per $10,000 · paid last 24h −0.030%

Price spread now: Deribit against ApeX Omni−0.173%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on ApeX Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)+0.253%+$25 · spread now −0.173%, 7d avg −0.016%

Together, before fees+0.299%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.157% cheaper against ApeX Omni than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XRPUSDT	1.5032	0.0100	pay 0.0013% / 1h	4m 44s	$995K	$687K	50x
Short	Deribit XRP_USDC-PERPETUAL	1.5006	0	get 0.0000% / 1h	4m 44s	$8.7M	$22.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against ApeX Omni. 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 ApeX OmnibpFee DeribitbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$21
Price spread: −0.173% → −0.016%: −$15.74
Slippage, 4 orders: −$11.3
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$65.05
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 19 min ago; Deribit: live order book, 4 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 ApeX Omni live order book, 19 min ago	3.99 bp	9.2 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.67 bp	5.4 bp −$5	6.6 bp −$66	37.8 bp −$3,778	doesn't fit

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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5003	−0.191%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5009	−0.153%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5014	−0.118%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5006	−0.173%	$8.7M	$22.4M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5004	−0.188%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4990	−0.279%	$2K	$62K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.4993	−0.259%	$178K	$779K	50x	as long as short
Vest XRP-PERP	+0.0088%	1h	1.5002	−0.197%	—	$9K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5002	−0.202%	$2.9M	$10.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5005	−0.180%	$570K	$2.4M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5018	−0.093%	$12K	$249K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.4995	−0.243%	$1.0M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.4997	−0.233%	$38.2M	$68.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5013	−0.128%	$663K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5002	−0.200%	$528.1M	$1.75B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5005	−0.180%	$338.6M	$784.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5002	−0.200%	$124.8M	$788.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4998	−0.226%	$559K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5015	−0.113%	$111K	$613K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5015	−0.113%	$1.6M	$139K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5003	−0.193%	$349.0M	$127.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5002	−0.200%	$308.9M	$770.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5002	−0.197%	$110.8M	$137.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5002	−0.200%	$258.8M	$320.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5002	−0.200%	—	$104.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5029	−0.017%	$6.7M	$21.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5058	+0.173%	$654K	$89.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5028	−0.027%	$1.1M	$40.7M	20x	as long as short
ApeX Omni XRPUSDTlong	+0.0100%	1h	1.5032	long leg	$995K	$687K	50x
Polymarket Perps XRP-USD	+0.0100%	1h	1.5007	−0.166%	$60K	$432K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5000	−0.216%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.4999	−0.222%	$808K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5012	−0.130%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.4999	−0.220%	$36K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.4991	−0.274%	$49.4M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5002	−0.200%	$53.8M	$26.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5010	−0.145%	$468K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5000	−0.216%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5016	−0.106%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.4998	−0.225%	$72K	$39K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5021	−0.073%	$1.8M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0170%	1h	1.5009	−0.153%	$1.7M	$916K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5006	−0.173%	$5.1M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.4997	−0.235%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5000	−0.213%	$23.3M	$59.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5038	+0.042%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5002	−0.199%	$15.1M	$55.9M	50x	as long as short
Hyperliquid XRP	+0.0348%	1h	1.5017	−0.100%	$273.2M	$159.6M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5017	−0.101%	$407K	$489K	10x	as long as short
Aftermath Perps XRPUSD	+0.0451%	1h	1.5032	−0.001%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5050	+0.120%	$67K	$89K	15x	as long as short