Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Aster+2.728%67s7-day average −0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1021.021% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 4 days (all we have)−3.544%−$354 · spread now +2.728%, 7d avg −0.146%

Together, before fees−3.377%+ Points / potential airdropAster: Stage 5 · farm board−$338 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.873% dearer against Aster than usual: you sell high and buy low (spread +2.728% now, against its 7-day average of −0.146%): +$287 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. Mind the row above: over the last 7 days funding on this pair paid +0.167%, so the current rate has only just turned against you. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5147	0.0100	pay 0.0100% / 8h	3h 22m	$38.7M	$85.3M	100x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	22m 15s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +2.728%Rate

Funding earned: −$14
Price spread: +2.728% → −0.146%: $287.33
Slippage, 4 orders: −$94.09
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $171.23
Costs to cover: 1.021%
Break-even: from the start

Slippage from Aster: live order book, 2 min ago; Injective: live order book, 31 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 Aster live order book, 2 min ago	0.99 bp	5.0 bp −$5	5.6 bp −$56	13.9 bp −$1,390	doesn't fit
Sell Injective live order book, 31 min ago	46.05 bp	46.1 bp −$46	59.2 bp −$592	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5148	+0.008%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5148	+0.006%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5153	+0.039%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5153	+0.041%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5149	+0.011%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.728%	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5150	+0.021%	$790K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5154	+0.046%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5152	+0.034%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5138	−0.058%	$9K	$348K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5144	−0.018%	$995K	$6.1M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5147	long leg	$38.7M	$85.3M	100x
Pacifica XRP	+0.0100%	1h	1.5150	+0.021%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	−0.001%	$534.1M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5150	+0.021%	$344.9M	$944.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5155	+0.054%	$126.3M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	+0.001%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5145	−0.012%	$131K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.117%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5153	+0.041%	$371.5M	$156.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	+0.008%	$295.6M	$905.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5151	+0.029%	$109.0M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5154	+0.047%	$268.8M	$389.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	+0.041%	—	$127.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.263%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.276%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	+0.124%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.325%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	+0.028%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5154	+0.047%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	+0.012%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5150	+0.021%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	+0.024%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5151	+0.028%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5150	+0.021%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5150	+0.023%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5150	+0.021%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	+0.023%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5147	+0.003%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5148	+0.009%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5143	−0.025%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5157	+0.067%	$5.7M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5147	+0.002%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	+0.107%	$24.2M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0256%	1h	1.5163	+0.107%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5160	+0.085%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5156	+0.060%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5143	−0.028%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0406%	1h	1.5169	+0.146%	$298.7M	$247.0M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.285%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5184	+0.246%	$2K	$15K	10x	as long as short