Funding you earn now, next payment 00:00 UTC−0.0277%/8h= −30.4% APRpaid last 24h −0.017%
Price spread now: Paradex against Backpack+0.148%7-day average −0.028% · 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−$6as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Funding, last 4 days (all we have)−0.030%−$3 on $10k
+Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.148%, 7d avg −0.028%
=Together, before fees−0.183%+ Points / potential airdropParadex: Active · farm board−$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Paradex is 0.176% dearer against Backpack than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of −0.028%): +$18 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 4 days (−0.030% in total) that is about 22 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.030% in total (about -3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XRP_USDC_PERP | 1.5597 | 0.0378 | pay 0.0047% / 1h | 46m 32s | $1.7M | $1.0M | 25x |
| Short | Paradex XRP-USD-PERP | 1.5620 | 0.0100 | get 0.0100% / 8h | 46m 32s | $487K | $54K | 50x |
Backpack XRP_USDC_PERP
Paradex XRP-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$58.26
- Price spread: +0.148% → −0.028%
- $17.57
- Slippage, 4 orders
- −$9.64
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$64.33
- Costs to cover
- 0.236%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 3 min ago; Paradex: live order book, 33 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 | 7.3 bp −$73 | doesn't fit | doesn't fit |
| Sell Paradex live order book, 33 min ago | 4.50 bp | 6.5 bp −$7 | 154.9 bp −$1,549 | 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 | 1.5626 | +0.186% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5603 | +0.038% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5650 | +0.340% | $70K | $90K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5567 | −0.193% | $260K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0005% / S +0.0106% | 1h | 1.5568 | −0.185% | $856K | — | 200x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0007% | 1h | 1.5576 | −0.135% | $9.7M | $25.4M | 50x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0031% | 1h | 1.5584 | −0.084% | $15.6M | $68.7M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0056% | 8h | 1.5570 | −0.173% | $77K | $909K | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | −0.237% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5611 | +0.092% | $3.0M | $12.6M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Deribit XRP_USDC-PERPETUAL
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5619 | +0.141% | $445K | $3.1M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5625 | +0.183% | $1.1M | $5.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5618 | +0.135% | $39.7M | $79.9M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5616 | +0.122% | $642K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5627 | +0.192% | $559.6M | $2.01B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5630 | +0.212% | $348.3M | $913.9M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5628 | +0.199% | $127.6M | $893.1M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5568 | −0.186% | $579K | $42K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5629 | +0.205% | $117K | $752K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5633 | +0.232% | $1.7M | $573K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5624 | +0.173% | $373.4M | $143.2M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5624 | +0.173% | $303.4M | $867.2M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5609 | +0.079% | $113.6M | $163.0M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5629 | +0.205% | $273.3M | $369.7M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5622 | +0.160% | — | $3.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5634 | +0.234% | $11.7M | $30.5M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5593 | −0.026% | $677K | $103.5M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5605 | +0.051% | $1.1M | $40.9M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5640 | +0.276% | $1.0M | $887K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5569 | −0.181% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5570 | −0.173% | $48K | $453K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5571 | −0.167% | $42K | $67K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5573 | −0.152% | $838K | $81K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5578 | −0.123% | $131K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5579 | −0.115% | $30K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5567 | −0.196% | $51.1M | $15.5M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5580 | −0.109% | $55.4M | $29.3M | 50x | as long as short |
| Paradex XRP-USD-PERPshort | +0.0100% | 8h | 1.5620 | +0.148% | $487K | $54K | 50x | |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5629 | +0.205% | $13K | $266K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5628 | +0.202% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5575 | −0.144% | $73K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5631 | +0.218% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0212% | 1h | 1.5562 | −0.227% | $1.4M | $8K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5585 | −0.077% | $24.5M | $74.5M | 125x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0224% | 1h | 1.5588 | −0.058% | $5.9M | $47.7M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0272% | 1h | 1.5580 | −0.106% | $18K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0319% | 8h | 1.5568 | −0.186% | $1.9M | $33.8M | 2.9x | as long as short |
| Backpack XRP_USDC_PERPlong | +0.0378% | 1h | 1.5597 | long leg | $1.7M | $1.0M | 25x | |
| Hyperliquid XRP | +0.0620% | 1h | 1.5632 | +0.224% | $297.8M | $208.7M | 20x | as long as short |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5640 | +0.278% | $510K | $632K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0831% | 1h | 1.5606 | +0.058% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
Hyperliquid XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD