XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0135%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h −0.031%

Price spread now: Bulk against Backpack−0.354%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 7 days+0.643%+$64 · spread now −0.354%, 7d avg +0.056%

Together, before fees+0.609%+$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bulk is 0.410% cheaper against Backpack than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of +0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5487	0.0235	pay 0.0029% / 1h	0m 40s	$2.0M	$1.3M	25x
Short	Bulk XRP-USD	1.5432	0.0100	get 0.0013% / 1h	0m 40s	$1.6M	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Backpack. 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 BackpackbpFee BulkbpOrdersPrice spread, now −0.354%Rate

Funding earned: −$28.31
Price spread: −0.354% → +0.056%: −$40.99
Slippage, 4 orders: −$1.93
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$88.23
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; Bulk: live order book, 3 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 Backpack live order book, 3 min ago	0.32 bp	5.3 bp −$5	7.4 bp −$74	doesn't fit	doesn't fit
Sell Bulk live order book, 3 min ago	0.64 bp	4.1 bp −$4	4.6 bp −$46	7.7 bp −$768	23.7 bp −$11.8K

XRP on 50 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
Kraken Futures PF_XRPUSD	−0.0168%	1h	1.5488	+0.006%	$14.2M	$73.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5485	−0.013%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.019%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5490	+0.019%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5500	+0.083%	$252K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5486	−0.004%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.471%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5506	+0.123%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5494	+0.045%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5488	+0.006%	$2.8M	$14.8M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5489	+0.013%	$627K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5491	+0.026%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5494	+0.048%	$483K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5498	+0.074%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5489	+0.013%	$39.2M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5487	+0.002%	$627K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5487	−0.002%	$541.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5480	−0.045%	$361.5M	$907.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5475	−0.077%	$125.5M	$849.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5481	−0.039%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5499	+0.077%	$168K	$704K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5432	−0.354%	$1.6M	$13K	20x
Gate XRP_USDT	+0.0100%	8h	1.5486	−0.006%	$388.1M	$160.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5483	−0.026%	$313.2M	$945.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5488	+0.008%	$109.8M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5488	+0.006%	$274.5M	$360.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5480	−0.045%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5471	−0.106%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5483	−0.026%	$674K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	+0.246%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	−0.013%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5494	+0.045%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5488	+0.006%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5485	−0.014%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5490	+0.019%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5488	+0.008%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5486	−0.006%	$32K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5476	−0.074%	$50.6M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5486	−0.006%	$55.0M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5484	−0.018%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5486	−0.005%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0109%	1h	1.5484	−0.018%	$830K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5489	+0.013%	$5.3M	$46.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5495	+0.052%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0197%	1h	1.5503	+0.100%	$299.1M	$266.3M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5481	−0.039%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5483	−0.027%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERPlong	+0.0235%	1h	1.5487	long leg	$2.0M	$1.3M	25x
RISEx XRP/USDC	+0.0337%	1h	1.5497	+0.065%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0474%	1h	1.5477	−0.066%	$3K	$15K	10x	as long as short