XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h +0.008%

Price spread now: Coinbase International against Backpack0.000%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now 0.000%, 7d avg −0.015%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, 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	Backpack XRP_USDC_PERP	1.5372	0.0257	pay 0.0032% / 1h	23m 01s	$1.7M	$1.0M	25x
Short	Coinbase International XRP-PERP-INTX	1.5372	0.0224	get 0.0028% / 1h	23m 01s	$5.8M	$47.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$6.87
Price spread: 0.000% → −0.015%: $1.55
Slippage, 4 orders: −$5.95
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$31.27
Costs to cover: 0.259%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	0.32 bp	5.3 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.32 bp	6.4 bp −$6	10.1 bp −$101	22.4 bp −$2,237	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	1.5361	−0.072%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5364	−0.050%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	+0.052%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	−0.069%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5360	−0.078%	$830K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5367	−0.033%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5365	−0.048%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5367	−0.033%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.223%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5367	−0.033%	$2.9M	$13.0M	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	1.5369	−0.020%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5356	−0.105%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	−0.048%	$39.1M	$81.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5363	−0.059%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5366	−0.039%	$547.2M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5365	−0.046%	$341.7M	$924.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5364	−0.052%	$125.3M	$880.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.176%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	−0.052%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.247%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5363	−0.059%	$361.3M	$147.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5364	−0.052%	$293.1M	$885.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5363	−0.056%	$110.2M	$165.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5362	−0.065%	$267.5M	$374.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5365	−0.046%	—	$121.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.083%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	−0.033%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.201%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.098%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5363	−0.061%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5365	−0.046%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.051%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	−0.039%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	−0.020%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	−0.046%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	−0.036%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5366	−0.039%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5362	−0.065%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5363	−0.059%	$12K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−0.067%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.053%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5363	−0.059%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5363	−0.056%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	−0.033%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0224%	1h	1.5372	0.000%	$5.8M	$47.2M	50x
Backpack XRP_USDC_PERPlong	+0.0257%	1h	1.5372	long leg	$1.7M	$1.0M	25x
Hibachi XRP/USDT-P	+0.0264%	1h	1.5364	−0.049%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0306%	8h	1.5370	−0.013%	$2.0M	$34.4M	2.9x	as long as short
Hyperliquid XRP	+0.0589%	1h	1.5381	+0.059%	$292.6M	$212.5M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5370	−0.011%	$500K	$637K	10x	as long as short
Aftermath Perps XRPUSD	+0.0787%	1h	1.5398	+0.167%	$1K	$11K	10x	as long as short