Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: BloFin against Arcus+0.064%7-day average +0.014% · 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−$19as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.102%+$10 on $10k

Price spread, last 3 days (all we have)−0.155%−$15 · spread now +0.064%, 7d avg +0.014%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.051% dearer against Arcus than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5504	0.0100	pay 0.0013% / 1h	40m 24s	$116K	$754K	20x
Short	BloFin XRP-USDT	1.5514	0.0220	get 0.0220% / 8h	40m 24s	$24.5M	$74.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. 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 ArcusbpFee BloFinbpOrdersPrice spread, now +0.064%Rate

Funding earned: $25.2
Price spread: +0.064% → +0.014%: $5.09
Slippage, 4 orders: −$7.23
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $6.56
Costs to cover: 0.237%
Break-even: 5.2 days

Slippage from Arcus: live order book, 38 min ago; BloFin: 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 Arcus live order book, 38 min ago	0.64 bp	4.9 bp −$5	12.8 bp −$128	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.64 bp	6.6 bp −$7	7.1 bp −$71	10.7 bp −$1,074	18.3 bp −$9,148

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	1.5503	−0.006%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5507	+0.017%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5550	+0.297%	$69K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5495	−0.058%	$9.6M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5495	−0.056%	$259K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0103%	1h	1.5495	−0.060%	$852K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5492	−0.076%	$15.5M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5494	−0.064%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.361%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5496	−0.055%	$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	1.5512	+0.052%	$442K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5500	−0.023%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5494	−0.064%	$39.4M	$80.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5505	+0.006%	$638K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5495	−0.055%	$554.9M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5493	−0.071%	$346.3M	$918.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5493	−0.071%	$126.7M	$884.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5546	+0.271%	$578K	$42K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5504	long leg	$116K	$754K	20x
Bulk XRP-USD	+0.0100%	1h	1.5506	+0.012%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5497	−0.045%	$373.5M	$144.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5497	−0.045%	$295.5M	$872.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5496	−0.052%	$113.0M	$163.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5493	−0.071%	$271.2M	$370.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5497	−0.045%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5522	+0.113%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.621%	$677K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5556	+0.335%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5597	+0.600%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5504	−0.003%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5498	−0.039%	$48K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5497	−0.045%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5495	−0.055%	$834K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5498	−0.035%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5493	−0.071%	$33K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5501	−0.017%	$50.9M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5493	−0.071%	$55.1M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5506	+0.015%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5503	−0.006%	$12K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5490	−0.092%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5493	−0.072%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5503	−0.006%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5495	−0.059%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5514	+0.064%	$24.5M	$74.4M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5504	0.000%	$5.9M	$47.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5527	+0.149%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5546	+0.271%	$2.0M	$34.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0340%	1h	1.5521	+0.110%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0608%	1h	1.5514	+0.064%	$294.8M	$209.8M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5510	+0.038%	$504K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0807%	1h	1.5564	+0.385%	$1K	$11K	10x	as long as short