Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.013%

Price spread now: Backpack against Binance+0.105%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 7 days−0.729%−$73 · spread now +0.105%, 7d avg −0.076%

Together, before fees−0.601%−$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.182% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5401	0.0100	pay 0.0100% / 8h	2h 05m	$554.1M	$1.87B	100x
Short	Backpack XRP_USDC_PERP	1.5417	0.0199	get 0.0025% / 1h	5m 54s	$1.8M	$953K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.105%Rate

Funding earned: $20.72
Price spread: +0.105% → −0.076%: $18.18
Slippage, 4 orders: −$1.93
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $16.98
Costs to cover: 0.219%
Break-even: 1.3 days

Slippage from Binance: live order book, 8 min ago; Backpack: 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 Binance live order book, 8 min ago	0.32 bp	5.3 bp −$5	6.7 bp −$67	14.6 bp −$1,460	35.1 bp −$17.5K
Sell Backpack live order book, 3 min ago	0.32 bp	5.3 bp −$5	7.0 bp −$70	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	1.5407	+0.040%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5403	+0.015%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.320%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5405	+0.028%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5414	+0.086%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.719%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5408	+0.047%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0166%	1h	1.5405	+0.030%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5416	+0.097%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5421	+0.131%	$446K	$3.1M	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	1.5404	+0.018%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5402	+0.008%	$39.2M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5407	+0.040%	$673K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5401	long leg	$554.1M	$1.87B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5403	+0.014%	$346.5M	$852.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5401	+0.002%	$125.9M	$847.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	+0.053%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5423	+0.144%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.459%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	+0.008%	$367.5M	$134.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5402	+0.008%	$289.0M	$824.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5401	+0.002%	$112.0M	$149.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5401	+0.002%	$266.8M	$346.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5403	+0.014%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.561%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.275%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	+0.024%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	+0.235%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5411	+0.066%	$50K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5408	+0.046%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5406	+0.037%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5410	+0.062%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	+0.066%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5406	+0.031%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5416	+0.099%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5406	+0.031%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5405	+0.028%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5404	+0.021%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5399	−0.014%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5408	+0.049%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5412	+0.073%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5412	+0.070%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5415	+0.092%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERPshort	+0.0199%	1h	1.5417	+0.105%	$1.8M	$953K	25x
Reya XRPRUSDPERP	+0.0211%	1h	1.5406	+0.033%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	+0.066%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0301%	8h	1.5415	+0.092%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5416	+0.096%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5415	+0.094%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0512%	1h	1.5422	+0.138%	$284.1M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5427	+0.173%	$1K	$11K	10x	as long as short